Zacks: Analysts Expect Smartsheet Inc (NYSE:SMAR) to Announce -$0.15 EPS

Analysts expect that Smartsheet Inc (NYSE:SMAR) will report earnings of ($0.15) per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Smartsheet’s earnings. The lowest EPS estimate is ($0.15) and the highest is ($0.14). Smartsheet posted earnings of ($0.04) per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 275%. The company is expected to issue its next earnings report on Tuesday, March 15th.

On average, analysts expect that Smartsheet will report full-year earnings of ($0.31) per share for the current year, with EPS estimates ranging from ($0.31) to ($0.30). For the next fiscal year, analysts anticipate that the business will post earnings of ($0.28) per share, with EPS estimates ranging from ($0.34) to ($0.20). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that cover Smartsheet.

Smartsheet (NYSE:SMAR) last posted its earnings results on Thursday, December 2nd. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.08. Smartsheet had a negative net margin of 29.13% and a negative return on equity of 24.34%. The company had revenue of $144.60 million during the quarter, compared to analysts’ expectations of $139.93 million. During the same quarter in the previous year, the company posted ($0.27) earnings per share. Smartsheet’s quarterly revenue was up 46.2% compared to the same quarter last year.

Several research analysts recently weighed in on SMAR shares. DA Davidson started coverage on shares of Smartsheet in a research report on Wednesday, January 5th. They issued a “buy” rating and a $100.00 price objective for the company. Citigroup boosted their price objective on shares of Smartsheet from $72.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, December 3rd. Morgan Stanley boosted their price objective on shares of Smartsheet from $98.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, December 13th. KeyCorp lifted their target price on shares of Smartsheet from $94.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, December 3rd. Finally, BMO Capital Markets decreased their price target on shares of Smartsheet from $90.00 to $88.00 and set an “outperform” rating for the company in a report on Friday, December 3rd. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $87.29.

In other news, Director Geoffrey T. Barker sold 2,250 shares of the company’s stock in a transaction dated Tuesday, January 11th. The shares were sold at an average price of $60.45, for a total value of $136,012.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CMO Andrew Lee Bennett sold 2,963 shares of the company’s stock in a transaction dated Friday, December 10th. The shares were sold at an average price of $71.00, for a total transaction of $210,373.00. The disclosure for this sale can be found here. Insiders have sold a total of 253,043 shares of company stock worth $19,227,844 over the last three months. Insiders own 6.07% of the company’s stock.

Several hedge funds have recently modified their holdings of SMAR. JPMorgan Chase & Co. raised its holdings in shares of Smartsheet by 86.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,197,461 shares of the company’s stock valued at $231,240,000 after purchasing an additional 1,486,732 shares during the period. Point72 Asset Management L.P. acquired a new position in Smartsheet in the 2nd quarter valued at about $100,410,000. FMR LLC grew its stake in Smartsheet by 754,292.5% in the 1st quarter. FMR LLC now owns 1,214,572 shares of the company’s stock valued at $49,542,000 after buying an additional 1,214,411 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Smartsheet by 191.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,633,707 shares of the company’s stock valued at $118,150,000 after buying an additional 1,074,006 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its stake in Smartsheet by 465.3% in the 3rd quarter. Allianz Asset Management GmbH now owns 1,173,322 shares of the company’s stock valued at $80,748,000 after buying an additional 965,757 shares during the last quarter. 86.56% of the stock is currently owned by institutional investors.

SMAR stock traded up $1.29 during trading on Friday, hitting $62.68. The company had a trading volume of 74,395 shares, compared to its average volume of 1,527,609. The firm has a 50-day moving average price of $69.94 and a 200-day moving average price of $71.52. Smartsheet has a 12 month low of $51.11 and a 12 month high of $85.65. The stock has a market cap of $7.94 billion, a price-to-earnings ratio of -53.01 and a beta of 1.46.

Smartsheet Company Profile

Smartsheet, Inc engages in managing and automating collaborative work. Its platform provides solutions that eliminate the obstacles to capturing information, including a familiar and intuitive spreadsheet interface as well as easily customizable forms. The company was founded by W. Eric Browne, Maria Colacurcio, John D.

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Earnings History and Estimates for Smartsheet (NYSE:SMAR)

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