SMAR Stock Recent News

Smartsheet (SMAR) came out with quarterly earnings of $0.18 per share, beating the Zacks Consensus Estimate of $0.08 per share. This compares to loss of $0.19 per share a year ago.

Markets were mixed on Wednesday, as high-flying indexes like the Nasdaq gave back some gains. Smartsheet and HashiCorp both posted solid fiscal first-quarter financial results but didn't give investors the guidance they wanted to see.

Smartsheet Inc. SMAR, -5.15% shares dropped in the extended session Wednesday after a light free-cash-flow outlook upset an otherwise beat-and-raise quarter. Smartsheet shares dropped as much as 14% after hours, following a 5.2% decline in the regular session to close at $49.

Smartsheet stock is among a large group of enterprise software stocks showing big revenue growth in recent quarters.

Smartsheet is the IBD Stock of the Day ahead of its first-quarter earnings report on June 7. The software maker's shares are up 20% this year.

Smartsheet (SMAR) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

The stock trades at just 4.5 times enterprise value to 2024 revenue, according to Jefferies.

BELLEVUE, Wash.--(BUSINESS WIRE)--Smartsheet Inc. (NYSE: SMAR), the enterprise platform for modern work management, today announced that it will release its financial results for its first quarter of fiscal year 2024, which ended April 30, 2023, after the close of U.S. financial markets on June 7, 2023. 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.

Shares of Smartsheet are flat for the year, having given up all their post-Q4 earnings gains in recent weeks. This is in spite of surging growth rates in a tough macro environment, as well as sharp gains to profitability.

Market Trends Favorable For Smartsheet's Upmarket Strategy.