$44.08 Million in Sales Expected for Smartsheet Inc (SMAR) This Quarter

Wall Street analysts predict that Smartsheet Inc (NYSE:SMAR) will announce $44.08 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Smartsheet’s earnings. The highest sales estimate is $44.30 million and the lowest is $43.91 million. The firm is expected to announce its next earnings report on Tuesday, December 4th.

On average, analysts expect that Smartsheet will report full-year sales of $168.27 million for the current fiscal year, with estimates ranging from $167.90 million to $168.60 million. For the next year, analysts forecast that the business will post sales of $234.76 million, with estimates ranging from $231.80 million to $237.21 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Smartsheet.

Smartsheet (NYSE:SMAR) last posted its quarterly earnings data on Tuesday, September 4th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.08. The firm had revenue of $42.38 million for the quarter, compared to analysts’ expectations of $39.21 million. The company’s revenue for the quarter was up 58.9% on a year-over-year basis.

Several equities analysts have recently commented on SMAR shares. JPMorgan Chase & Co. boosted their price target on shares of Smartsheet to $33.00 and gave the company an “overweight” rating in a report on Wednesday, September 5th. Morgan Stanley lowered their price target on shares of Smartsheet from $36.00 to $33.00 and set an “overweight” rating on the stock in a report on Tuesday, October 23rd. Zacks Investment Research cut shares of Smartsheet from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Canaccord Genuity boosted their price target on shares of Smartsheet from $29.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, September 5th. Finally, Jefferies Financial Group boosted their price target on shares of Smartsheet to $38.00 and gave the company a “buy” rating in a report on Wednesday, September 5th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $34.86.

Shares of Smartsheet stock traded down $0.16 on Friday, hitting $25.57. 717,800 shares of the company traded hands, compared to its average volume of 405,780. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.31 and a current ratio of 2.31. Smartsheet has a 12-month low of $18.06 and a 12-month high of $33.98.

In related news, Director Brent Frei sold 20,000 shares of the company’s stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $25.50, for a total value of $510,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Kara Hamilton sold 30,000 shares of the company’s stock in a transaction on Tuesday, October 30th. The stock was sold at an average price of $23.10, for a total transaction of $693,000.00. The disclosure for this sale can be found here.

Large investors have recently modified their holdings of the stock. Victory Capital Management Inc. bought a new stake in Smartsheet in the third quarter worth $143,000. Bank of New York Mellon Corp bought a new stake in Smartsheet in the second quarter worth $230,000. Russell Investments Group Ltd. bought a new stake in Smartsheet in the second quarter worth $275,000. Systematic Financial Management LP bought a new stake in Smartsheet in the second quarter worth $307,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Smartsheet in the second quarter worth $316,000. Hedge funds and other institutional investors own 41.77% of the company’s stock.

About Smartsheet

Smartsheet Inc provides cloud-based platform for execution of work. It enables teams and organizations to plan, capture, manage, automate, and report on work. The company offers Smartdashboards that provides the status of work to align individuals, managers, and executives; Smartportals to easily locate and access from any device the resources available for a project without IT assistance; Smartcards to organize, share, and act on workflows; and Smartgrids to keep teams on task by easily tracking multiple moving parts.

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Earnings History and Estimates for Smartsheet (NYSE:SMAR)

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