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

Smartsheet (NYSE:SMAR) released its quarterly earnings data on Thursday. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.15, Briefing.com reports. The firm 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 quarterly revenue was up 17.3% on a year-over-year basis. During the same period last year, the firm earned ($0.23) earnings per share.

Smartsheet Stock Performance

Shares of SMAR opened at $49.40 on Friday. The stock has a 50-day moving average of $46.84 and a two-hundred day moving average of $42.46. The stock has a market cap of $6.83 billion, a P/E ratio of -79.68 and a beta of 0.74. Smartsheet has a one year low of $35.52 and a one year high of $51.42.

Wall Street Analyst Weigh In

SMAR has been the subject of several recent research reports. Royal Bank of Canada boosted their price target on Smartsheet from $36.00 to $43.00 and gave the stock a “sector perform” rating in a research report on Thursday, June 6th. Morgan Stanley boosted their target price on shares of Smartsheet from $53.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. BMO Capital Markets increased their price target on shares of Smartsheet from $48.00 to $59.00 and gave the company an “outperform” rating in a research report on Friday. Barclays lifted their price objective on shares of Smartsheet from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 6th. Finally, Wells Fargo & Company boosted their price objective on shares of Smartsheet from $47.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, June 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Smartsheet currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.06.

Insider Transactions at Smartsheet

In related news, CFO Pete Godbole sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $43.54, for a total value of $326,550.00. Following the sale, the chief financial officer now owns 36,846 shares in the company, valued at $1,604,274.84. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Smartsheet news, insider Jolene Lau Marshall sold 3,994 shares of the stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $43.11, for a total transaction of $172,181.34. Following the sale, the insider now directly owns 16,567 shares of the company’s stock, valued at approximately $714,203.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Pete Godbole sold 7,500 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $43.54, for a total value of $326,550.00. Following the completion of the transaction, the chief financial officer now directly owns 36,846 shares of the company’s stock, valued at approximately $1,604,274.84. The disclosure for this sale can be found here. Insiders sold a total of 32,929 shares of company stock worth $1,446,805 over the last three months. 4.52% of the stock is currently owned by insiders.

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.