Zacks: Brokerages Anticipate Smartsheet Inc (SMAR) Will Announce Quarterly Sales of $44.08 Million

Equities research analysts expect Smartsheet Inc (NYSE:SMAR) to announce $44.08 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Smartsheet’s earnings. The lowest sales estimate is $43.91 million and the highest is $44.30 million. The firm is scheduled to issue its next quarterly earnings results on Tuesday, December 4th.

On average, analysts expect that Smartsheet will report full-year sales of $168.27 million for the current financial year, with estimates ranging from $167.90 million to $168.60 million. For the next year, analysts expect that the firm will post sales of $234.76 million, with estimates ranging from $231.80 million to $237.21 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Smartsheet.

Smartsheet (NYSE:SMAR) last posted its quarterly earnings data on Tuesday, September 4th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.08. The firm had revenue of $42.38 million during the quarter, compared to analyst estimates of $39.21 million. The company’s revenue for the quarter was up 58.9% on a year-over-year basis.

SMAR has been the topic of several recent research reports. JPMorgan Chase & Co. boosted their target price on Smartsheet to $33.00 and gave the stock an “overweight” rating in a report on Wednesday, September 5th. Zacks Investment Research cut Smartsheet from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Canaccord Genuity boosted their target price on Smartsheet from $29.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, September 5th. Jefferies Financial Group boosted their target price on Smartsheet to $38.00 and gave the stock a “buy” rating in a report on Wednesday, September 5th. Finally, SunTrust Banks boosted their target price on Smartsheet to $37.00 and gave the stock a “positive” rating in a report on Wednesday, September 5th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. Smartsheet has an average rating of “Buy” and a consensus price target of $36.33.

Shares of Smartsheet stock traded up $0.57 on Friday, hitting $30.71. 234,200 shares of the company were exchanged, compared to its average volume of 378,187. Smartsheet has a 1-year low of $18.06 and a 1-year high of $33.98. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.31 and a current ratio of 2.31.

Institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp purchased a new stake in shares of Smartsheet during the 2nd quarter valued at approximately $230,000. Russell Investments Group Ltd. purchased a new stake in shares of Smartsheet during the 2nd quarter valued at approximately $275,000. Systematic Financial Management LP purchased a new stake in shares of Smartsheet during the 2nd quarter valued at approximately $307,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Smartsheet during the 2nd quarter valued at approximately $316,000. Finally, Brighton Jones LLC purchased a new stake in shares of Smartsheet during the 2nd quarter valued at approximately $440,000. Institutional investors and hedge funds own 41.63% of the company’s stock.

Smartsheet Company Profile

Smartsheet Inc provides cloud-based platform for execution of work. It enables teams and organizations to plan, capture, manage, automate, and report on work. The company offers Smartdashboards that provides the status of work to align individuals, managers, and executives; Smartportals to easily locate and access from any device the resources available for a project without IT assistance; Smartcards to organize, share, and act on workflows; and Smartgrids to keep teams on task by easily tracking multiple moving parts.

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