Smartsheet Inc (NYSE:SMAR) – Equities researchers at William Blair issued their Q1 2021 earnings per share estimates for shares of Smartsheet in a research note issued on Wednesday, March 18th. William Blair analyst A. Bhatia expects that the company will earn ($0.37) per share for the quarter.
Smartsheet (NYSE:SMAR) last announced its quarterly earnings data on Tuesday, March 17th. The company reported ($0.13) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.03. Smartsheet had a negative net margin of 35.42% and a negative return on equity of 22.63%. The business had revenue of $78.52 million for the quarter, compared to analyst estimates of $77.70 million. During the same period last year, the business earned ($0.07) EPS. The company’s revenue was up 50.6% on a year-over-year basis.
SMAR has been the topic of a number of other reports. Needham & Company LLC restated a “buy” rating and issued a $60.00 price objective on shares of Smartsheet in a report on Wednesday, March 18th. DA Davidson reduced their price objective on shares of Smartsheet from $44.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday, March 18th. BMO Capital Markets reduced their price objective on shares of Smartsheet from $57.00 to $48.00 and set an “outperform” rating on the stock in a report on Wednesday, March 18th. Oppenheimer reduced their price objective on shares of Smartsheet from to in a report on Wednesday, March 18th. Finally, Royal Bank of Canada reduced their price objective on shares of Smartsheet from $53.00 to $48.00 and set an “outperform” rating on the stock in a report on Wednesday, March 18th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $48.93.
Shares of SMAR opened at $42.10 on Monday. Smartsheet has a twelve month low of $30.91 and a twelve month high of $55.79. The firm’s fifty day simple moving average is $45.88 and its 200-day simple moving average is $43.16. The firm has a market capitalization of $4.74 billion, a price-to-earnings ratio of -49.53 and a beta of 1.76. The company has a current ratio of 3.14, a quick ratio of 3.14 and a debt-to-equity ratio of 0.10.
In other Smartsheet news, Director Elena Gomez sold 5,000 shares of the firm’s stock in a transaction on Thursday, January 9th. The shares were sold at an average price of $45.72, for a total transaction of $228,600.00. Following the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $228,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Patrick Mader sold 40,000 shares of the firm’s stock in a transaction on Thursday, January 9th. The stock was sold at an average price of $45.22, for a total transaction of $1,808,800.00. Following the transaction, the chief executive officer now directly owns 933,757 shares in the company, valued at $42,224,491.54. The disclosure for this sale can be found here. Insiders have sold a total of 187,991 shares of company stock worth $8,818,298 over the last quarter. 24.73% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the business. Covington Capital Management purchased a new position in Smartsheet during the 4th quarter worth $25,000. Advisor Group Inc. grew its position in Smartsheet by 42.6% during the 4th quarter. Advisor Group Inc. now owns 830 shares of the company’s stock worth $37,000 after purchasing an additional 248 shares during the last quarter. Institute for Wealth Management LLC. purchased a new position in Smartsheet during the 4th quarter worth $39,000. Cutler Group LP grew its position in Smartsheet by 56.6% during the 4th quarter. Cutler Group LP now owns 1,046 shares of the company’s stock worth $46,000 after purchasing an additional 378 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in Smartsheet during the 4th quarter worth $54,000. 83.77% of the stock is currently owned by institutional investors.
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.