Smartsheet (NYSE:SMAR) Updates Q3 Earnings Guidance

Smartsheet (NYSE:SMAR) issued an update on its third quarter earnings guidance on Thursday morning. The company provided EPS guidance of $0.29-0.31 for the period, compared to the consensus EPS estimate of $0.29. The company issued revenue guidance of $282-285 million, compared to the consensus revenue estimate of $285.26 million. Smartsheet also updated its FY 2025 guidance to 1.360-1.390 EPS.

Smartsheet Stock Up 5.9 %

Shares of Smartsheet stock opened at $52.28 on Friday. The stock’s fifty day moving average is $47.00 and its two-hundred day moving average is $42.52. Smartsheet has a 52 week low of $35.52 and a 52 week high of $54.28. The company has a market capitalization of $7.23 billion, a PE ratio of -84.32 and a beta of 0.74.

Smartsheet (NYSE:SMAR) last issued its earnings results on Thursday, September 5th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.15. The business had revenue of $276.41 million for the quarter, compared to the consensus estimate of $274.23 million. Smartsheet had a negative net margin of 8.35% and a negative return on equity of 12.06%. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.23) EPS. As a group, research analysts anticipate that Smartsheet will post -0.21 earnings per share for the current year.

Analyst Upgrades and Downgrades

SMAR has been the subject of a number of recent research reports. UBS Group boosted their target price on shares of Smartsheet from $56.00 to $61.00 and gave the stock a buy rating in a report on Thursday, August 29th. Guggenheim boosted their price objective on shares of Smartsheet from $60.00 to $62.00 and gave the stock a buy rating in a research note on Friday. Wells Fargo & Company raised their target price on Smartsheet from $47.00 to $50.00 and gave the stock an overweight rating in a research note on Thursday, June 6th. Canaccord Genuity Group lifted their price target on Smartsheet from $52.00 to $60.00 and gave the stock a buy rating in a research report on Friday. Finally, Royal Bank of Canada increased their price objective on shares of Smartsheet from $43.00 to $51.00 and gave the stock a sector perform rating in a research note on Friday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Smartsheet has an average rating of Moderate Buy and a consensus price target of $55.06.

Insider Transactions at Smartsheet

In other Smartsheet news, insider Jolene Lau Marshall sold 3,741 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $48.18, for a total value of $180,241.38. Following the completion of the sale, the insider now owns 17,100 shares in the company, valued at approximately $823,878. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Smartsheet news, insider Jolene Lau Marshall sold 3,741 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $48.18, for a total value of $180,241.38. Following the completion of the sale, the insider now directly owns 17,100 shares in the company, valued at approximately $823,878. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Stephen Robert Branstetter sold 4,174 shares of Smartsheet 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 in the company, valued at approximately $2,988,821.97. The disclosure for this sale can be found here. Insiders sold 32,929 shares of company stock valued at $1,446,805 over the last 90 days. 4.52% of the stock is currently owned by corporate insiders.

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.