Zacks: Analysts Anticipate Smartsheet Inc (NYSE:SMAR) to Announce -$0.16 EPS

Wall Street analysts expect Smartsheet Inc (NYSE:SMAR) to post ($0.16) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Smartsheet’s earnings, with the highest EPS estimate coming in at ($0.14) and the lowest estimate coming in at ($0.16). Smartsheet reported earnings of ($0.08) per share during the same quarter last year, which would suggest a negative year over year growth rate of 100%. The business is scheduled to issue its next earnings results after the market closes on Wednesday, September 4th.

On average, analysts expect that Smartsheet will report full year earnings of ($0.55) per share for the current financial year, with EPS estimates ranging from ($0.57) to ($0.51). For the next financial year, analysts forecast that the firm will report earnings of ($0.53) per share, with EPS estimates ranging from ($0.62) to ($0.43). Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow Smartsheet.

Smartsheet (NYSE:SMAR) last announced its earnings results on Wednesday, June 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.15. Smartsheet had a negative net margin of 30.04% and a negative return on equity of 34.42%. The company had revenue of $56.19 million during the quarter, compared to analyst estimates of $54.65 million. During the same period in the previous year, the business earned ($0.12) earnings per share. The firm’s quarterly revenue was up 54.7% compared to the same quarter last year.



SMAR has been the subject of several research reports. Wedbush initiated coverage on shares of Smartsheet in a research report on Thursday, August 1st. They issued an “outperform” rating and a $62.00 target price for the company. Zacks Investment Research lowered shares of Smartsheet from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $60.00 target price (up from $45.00) on shares of Smartsheet in a research report on Thursday, July 11th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $53.17.

NYSE:SMAR traded down $1.44 during midday trading on Friday, hitting $50.32. The company had a trading volume of 800,105 shares, compared to its average volume of 1,229,743. Smartsheet has a 52-week low of $20.34 and a 52-week high of $55.79. The stock’s fifty day moving average price is $51.29 and its 200-day moving average price is $43.91. The company has a market capitalization of $5.52 billion, a PE ratio of -81.16 and a beta of 2.00. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.29.

In other news, Director Matthew S. Mcilwain sold 5,225,000 shares of the stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $43.54, for a total transaction of $227,496,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Michael Arntz sold 4,000 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $45.26, for a total transaction of $181,040.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,825,089 shares of company stock valued at $472,738,900. 24.73% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. Treasurer of the State of North Carolina bought a new position in shares of Smartsheet during the second quarter valued at approximately $1,655,000. BlackRock Inc. increased its position in shares of Smartsheet by 285.3% during the second quarter. BlackRock Inc. now owns 4,536,828 shares of the company’s stock valued at $219,582,000 after acquiring an additional 3,359,344 shares in the last quarter. KCL Capital L.P. bought a new stake in shares of Smartsheet during the second quarter valued at approximately $271,000. United Services Automobile Association bought a new stake in shares of Smartsheet during the second quarter valued at approximately $1,432,000. Finally, Clear Creek Financial Management LLC bought a new stake in shares of Smartsheet during the second quarter valued at approximately $706,000. Institutional investors own 55.10% of the company’s stock.

About Smartsheet

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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