Smartsheet (NYSE:SMAR) Issues 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 Price Performance

Shares of SMAR traded up $3.98 during trading hours on Friday, hitting $53.33. The stock had a trading volume of 214,125 shares, compared to its average volume of 1,462,485. The stock has a market capitalization of $7.38 billion, a price-to-earnings ratio of -85.37 and a beta of 0.74. The company’s fifty day moving average is $46.84 and its two-hundred day moving average is $42.46. Smartsheet has a 52 week low of $35.52 and a 52 week high of $53.78.

Smartsheet (NYSE:SMAR) last announced its earnings results on Thursday, September 5th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.29 by $0.15. The company had revenue of $276.41 million for 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%. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.23) earnings per share. Equities analysts predict that Smartsheet will post -0.21 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on SMAR shares. Morgan Stanley boosted their price objective on shares of Smartsheet from $55.00 to $57.00 and gave the stock an overweight rating in a research report on Friday. Royal Bank of Canada upped their price target on Smartsheet from $43.00 to $51.00 and gave the company a sector perform rating in a research note on Friday. Wells Fargo & Company lifted their price objective on Smartsheet from $47.00 to $50.00 and gave the stock an overweight rating in a research report on Thursday, June 6th. Canaccord Genuity Group upped their target price on shares of Smartsheet from $45.00 to $52.00 and gave the company a buy rating in a research report on Thursday, June 6th. Finally, Needham & Company LLC reiterated a buy rating and set a $57.00 price target on shares of Smartsheet in a research report on Friday. One research 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. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $53.94.

Insider Buying and Selling

In other Smartsheet news, COO Stephen Robert Branstetter sold 2,004 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $48.00, for a total value of $96,192.00. Following the completion of the transaction, the chief operating officer now directly owns 61,791 shares of the company’s stock, valued at $2,965,968. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Smartsheet news, COO Stephen Robert Branstetter sold 2,004 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $48.00, for a total transaction of $96,192.00. Following the sale, the chief operating officer now directly owns 61,791 shares in the company, valued at approximately $2,965,968. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Pete Godbole sold 7,244 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $41.22, for a total transaction of $298,597.68. Following the completion of the transaction, the chief financial officer now owns 30,786 shares of the company’s stock, valued at approximately $1,268,998.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,929 shares of company stock valued at $1,446,805. 4.52% of the stock is owned by company 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.