Smartsheet (NYSE:SMAR) Issues FY25 Earnings Guidance

Smartsheet (NYSE:SMAR) updated its FY25 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.36-1.39 for the period, compared to the consensus estimate of $1.25. The company issued revenue guidance of $1.116-1.121 billion, compared to the consensus revenue estimate of $1.12 billion. Smartsheet also updated its Q3 guidance to $0.29-0.31 EPS.

Analyst Ratings Changes

Several research analysts recently weighed in on SMAR shares. UBS Group lifted their price objective on shares of Smartsheet from $56.00 to $61.00 and gave the stock a buy rating in a research note on Thursday, August 29th. Guggenheim reissued a buy rating and issued a $56.00 price target on shares of Smartsheet in a report on Tuesday, June 25th. Canaccord Genuity Group raised their price objective on Smartsheet from $45.00 to $52.00 and gave the stock a buy rating in a research note on Thursday, June 6th. Truist Financial reissued a buy rating and issued a $55.00 target price on shares of Smartsheet in a research note on Monday, August 26th. Finally, Barclays boosted their price objective on Smartsheet from $40.00 to $45.00 and gave the company an equal weight rating in a research report on Thursday, June 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $52.41.

Smartsheet Price Performance

NYSE:SMAR traded up $2.01 on Thursday, hitting $49.35. 6,301,545 shares of the company’s stock were exchanged, compared to its average volume of 1,469,076. The company has a market cap of $6.83 billion, a P/E ratio of -81.97 and a beta of 0.74. The firm has a 50-day moving average price of $46.72 and a 200-day moving average price of $42.41. Smartsheet has a 52 week low of $35.52 and a 52 week high of $51.42.

Smartsheet (NYSE:SMAR) last released its earnings results on Wednesday, June 5th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.06. The business had revenue of $262.98 million for the quarter, compared to analyst estimates of $258.06 million. Smartsheet had a negative return on equity of 12.06% and a negative net margin of 8.35%. On average, research analysts expect that Smartsheet will post -0.21 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Pete Godbole sold 7,500 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $43.54, for a total transaction of $326,550.00. Following the transaction, the chief financial officer now directly owns 36,846 shares in the company, valued at $1,604,274.84. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CFO Pete Godbole sold 7,500 shares of Smartsheet stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $43.54, for a total transaction of $326,550.00. Following the completion of the transaction, the chief financial officer now owns 36,846 shares in the company, valued at $1,604,274.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Stephen Robert Branstetter sold 4,174 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $43.91, for a total value of $183,280.34. Following the transaction, the chief operating officer now directly owns 68,067 shares in the company, valued at approximately $2,988,821.97. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,929 shares of company stock valued at $1,446,805. 4.52% of the stock is owned by 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.