SMAR Stock Recent News

BELLEVUE, Wash.--(BUSINESS WIRE)--Smartsheet Inc. (NYSE: SMAR), the enterprise work management platform, today announced that it will release its financial results for its first quarter of fiscal year 2025, which ended April 30, 2024, after the close of U.S. financial markets on June 5, 2024. Smartsheet executives will host a conference call and webcast that day at 4:30 p.m. ET (1:30 p.m. PT) to discuss the results. The dial-in number to access the call will be (888) 440-6385 or (646) 960-0180.

The average of price targets set by Wall Street analysts indicates a potential upside of 33.1% in Smartsheet (SMAR). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.

Smartsheet (SMAR) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term.

Smartsheet's stock has been negatively impacted by quarterly earnings, making it an attractive value play in an expensive market. It faces the same challenges as most of the rest of the software sector, most notably weakness among SMB customers. Over the long run, however, Smartsheet still benefits from greater adoption of distributed workforces. Its growth plus margin profile remains attractive.

Business software company Smartsheet surpassed $1 billion in annualized recurring revenue in the fourth quarter, within the timeframe established by the company during its first analyst day as a public company in 2018.

These stocks were set to make moves on Friday.

Smartsheet Inc. (SMAR) Q4 2024 Earnings Call Transcript

Although the revenue and EPS for Smartsheet (SMAR) give a sense of how its business performed in the quarter ended January 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Smartsheet (SMAR) came out with quarterly earnings of $0.34 per share, beating the Zacks Consensus Estimate of $0.18 per share. This compares to earnings of $0.07 per share a year ago.

Smartsheet on Thursday provided a revenue outlook that missed analyst estimates, sending its stock down 10%, even after the cloud software seller's quarterly revenue exceeded estimates.