Smartsheet (NYSE:SMAR) Releases Earnings Results, Beats Estimates By $0.15 EPS

Smartsheet (NYSE:SMAR) issued its earnings results on Thursday. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.29 by $0.15, Briefing.com reports. The firm had revenue of $276.41 million during the quarter, compared to analysts’ expectations of $274.23 million. Smartsheet had a negative return on equity of 12.06% and a negative net margin of 8.35%. Smartsheet’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period last year, the business earned ($0.23) earnings per share.

Smartsheet Trading Up 5.9 %

Shares of NYSE SMAR opened at $52.28 on Friday. The firm has a market capitalization of $7.23 billion, a PE ratio of -84.32 and a beta of 0.74. The firm’s 50-day moving average is $47.00 and its 200-day moving average is $42.52. Smartsheet has a 1 year low of $35.52 and a 1 year high of $54.28.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on SMAR shares. Truist Financial increased their price target on shares of Smartsheet from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday. BMO Capital Markets increased their price objective on Smartsheet from $48.00 to $59.00 and gave the stock an “outperform” rating in a research note on Friday. Canaccord Genuity Group lifted their target price on shares of Smartsheet from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Friday. Morgan Stanley increased their price target on Smartsheet from $55.00 to $57.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, DA Davidson reiterated a “buy” rating and issued a $55.00 price objective on shares of Smartsheet in a research report on Friday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Smartsheet presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.06.

Insider Buying and Selling

In other news, COO Stephen Robert Branstetter sold 4,174 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $43.91, for a total value of $183,280.34. Following the transaction, the chief operating officer now owns 68,067 shares of the company’s stock, valued at approximately $2,988,821.97. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, COO Stephen Robert Branstetter sold 4,174 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $43.91, for a total transaction of $183,280.34. Following the completion of the transaction, the chief operating officer now directly owns 68,067 shares in the company, valued at approximately $2,988,821.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Pete Godbole sold 7,500 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $43.54, for a total transaction of $326,550.00. Following the completion of the sale, the chief financial officer now owns 36,846 shares in the company, valued at $1,604,274.84. The disclosure for this sale can be found here. Insiders sold a total of 32,929 shares of company stock valued at $1,446,805 over the last ninety days. Insiders own 4.52% of the company’s stock.

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.