SMAR Stock Recent News

Smartsheet Inc.'s stock SMAR climbed more than 3% in extended trading Thursday after the company reported quarterly results and full-year revenue guidance that beat analyst estimates. Guidewire reported a fiscal second-quarter net loss of $33.4 million, or 25 cents a share, compared with a net loss of $63.2 million, or 47 cents a share, in the year-ago quarter.

As we enter the final months of 2023, the stock market continues to face headwinds. Inflation remains stubbornly high, the Federal Reserve is still on its rate-hiking path, and recession fears linger.

Smartsheet has seen a sharp correction over the past month due to concerns on slowing billings growth. The company expects billings to accelerate in the back half of the year, driven by Free plan conversions and a marketing push. Trading at ~5x forward revenue, Smartsheet is a great "growth at a reasonable price" investment.

Smartsheet's share price decline has brought its EV/S ratio to around 4.5X, with a projected free cash flow margin of around 12% over the next 12 months, making it an attractive investment opportunity. The company is a leader in the workflow management space, with strong growth in profitability and free cash generation, and is set to launch generative AI tools in the coming months. Smartsheet's valuation does not depend on the generative AI opportunity, and its shares are expected to perform well in the long term as the company continues to grow and improve its business model.

Enterprise workflow collaboration and automation software maker Smartsheet Inc. NASDAQ: SMAR shares plummeted over (20%) due to its fiscal first quarter 2024 earnings report. While results were strong, the mixed forward guidance spooked investors as they frantically rushed out of the proverbial burning theater.

Smartsheet Inc. shares fell more than 20% Thursday after Wall Street acknowledged that the soft business spending environment had finally caught up with the cloud-based work-management platform provider.

Smartsheet beat expectations in its most recent quarter but management's guidance failed to inspire investors. The company's adjusted operating margin is improving.

The software company's free cash flow makes its valuation compelling, Guggenheim says.

Smartsheet Inc. (NYSE:SMAR ) Q1 2024 Earnings Conference Call June 7, 2023 4:30 PM ET Company Participants Aaron Turner - Head, Investor Relations Mark Mader - Chief Executive Officer Pete Godbole - Chief Financial Officer Conference Call Participants Terry Tillman - Truist Securities Scott Berg - Needham John DiFucci - Guggenheim Ryan MacWilliams - Barclays George Iwanyc - Oppenheimer Ethan Bruck - Wolfe Research Jacob Roberge - William Blair Shebly Seyrafi - FBN Securities Pinjalim Bora - JPMorgan Jason Celino - KeyBanc Capital Markets Josh Baer - Morgan Stanley Keith Bachman - BMO Robert Simmons - D.A. Davidson Fred Lee - Credit Suisse Operator Good afternoon, ladies and gentlemen and welcome to the Smartsheet First Quarter Fiscal 2024 Earnings Conference Call.

Although the revenue and EPS for Smartsheet (SMAR) give a sense of how its business performed in the quarter ended April 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.