Zacks: Analysts Expect Smartsheet Inc (SMAR) to Post -$0.14 EPS

Analysts predict that Smartsheet Inc (NYSE:SMAR) will report earnings of ($0.14) per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Smartsheet’s earnings. The lowest EPS estimate is ($0.14) and the highest is ($0.13). The business is expected to issue its next earnings results on Monday, March 4th.

On average, analysts expect that Smartsheet will report full-year earnings of ($0.43) per share for the current year, with EPS estimates ranging from ($0.44) to ($0.42). For the next financial year, analysts forecast that the business will report earnings of ($0.53) per share, with EPS estimates ranging from ($0.56) to ($0.51). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that cover Smartsheet.

Smartsheet (NYSE:SMAR) last posted its earnings results on Monday, December 3rd. The company reported ($0.09) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.11. The company had revenue of $46.90 million during the quarter, compared to analyst estimates of $44.12 million. Smartsheet had a negative return on equity of 111.93% and a negative net margin of 32.12%. The firm’s revenue for the quarter was up 59.5% compared to the same quarter last year.

SMAR has been the subject of several analyst reports. Zacks Investment Research upgraded Smartsheet from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research report on Saturday, December 8th. Royal Bank of Canada reduced their price objective on Smartsheet from $39.00 to $34.00 and set an “outperform” rating for the company in a research report on Friday, November 30th. Stephens initiated coverage on Smartsheet in a research report on Thursday, January 3rd. They set an “overweight” rating and a $32.00 price objective for the company. Finally, Morgan Stanley boosted their price objective on Smartsheet from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 4th. Nine research analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and an average price target of $34.00.

In other Smartsheet news, insider Mark Patrick Mader sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, January 10th. The stock was sold at an average price of $25.93, for a total value of $518,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Kara Hamilton sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $23.10, for a total value of $693,000.00. The disclosure for this sale can be found here. Insiders sold 233,686 shares of company stock valued at $5,844,714 over the last 90 days.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital International Investors acquired a new stake in shares of Smartsheet during the 3rd quarter valued at $32,354,000. BlackRock Inc. lifted its position in shares of Smartsheet by 10.7% during the 3rd quarter. BlackRock Inc. now owns 751,415 shares of the company’s stock valued at $23,489,000 after acquiring an additional 72,383 shares during the last quarter. Morgan Stanley lifted its position in shares of Smartsheet by 1,011.4% during the 3rd quarter. Morgan Stanley now owns 592,133 shares of the company’s stock valued at $18,510,000 after acquiring an additional 538,853 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Smartsheet by 16.7% during the 3rd quarter. Vanguard Group Inc. now owns 587,606 shares of the company’s stock valued at $18,369,000 after acquiring an additional 83,956 shares during the last quarter. Finally, Vanguard Group Inc lifted its position in shares of Smartsheet by 16.7% during the 3rd quarter. Vanguard Group Inc now owns 587,606 shares of the company’s stock valued at $18,369,000 after acquiring an additional 83,956 shares during the last quarter. Hedge funds and other institutional investors own 41.63% of the company’s stock.

Shares of NYSE SMAR opened at $25.52 on Wednesday. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.02. Smartsheet has a 12-month low of $18.06 and a 12-month high of $33.98.

Smartsheet Company Profile

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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