Categories Technology, U.S. Markets News

Smartsheet poised to continue rally ahead of Q4 earnings

Cloud-based solutions provider Smartsheet (SMAR) is scheduled to report fourth-quarter 2019 earnings results on March 19, after the regular trading hours. Analysts have projected Q4 loss of 14 cents per share, which also represents the mid-point of the management’s projection of a loss of 13-15 cents per share.

The street expects revenue of $49.6 million during the quarter, which also falls in the management’s projection range of $49-50 million.

Smartsheet Q3 2019 earnings

The company, which went public in April last year, provides various cloud-based platforms, including Smartdashboards, Smartportals and Smartcards, all of which help in streamlining operations and workflow of businesses. Smartsheet competes with companies including Atlassian (TEAM), Salesforce (CRM), ServiceNow (NOW), Workday, Adobe etc.

Since going public, the stock has almost tripled, thanks to the company’s ability to steadily increase its revenue and bookings. The Bellevue, Washington-based firm also boasts of a healthy balance sheet as well as a high ROE. Since the beginning of this year, the stock has gained 83%.

Investors will also be keen to hear out how the newly-appointed Chief Technology Officer Praerit Garg plans to manage the firm in the coming days. It may be noted that Garg is an executive with over 20 years of experience, including founding two cloud-based start-ups.

READ: DOCUSIGN SURPRISES WALL STREET WITH A PROFIT IN Q4

The stock has an average 12-month price target of $10.92, suggesting a 6.5% upside from Friday’s close. SMAR has a Moderate Buy rating.

In Q3

For the last reported quarter, Smartsheet posted a loss of 9 cents per share and revenue of $47 million, beating analysts’ estimates. Subscription revenue surged 57% to $41.5 million and professional services revenue climbed 81% to $5.3 million. The stock jumped about 8% during the extended trading hours.

 

Earnings Call: Listen to on-demand earnings calls and hear how management responds to analysts’ questions

Most Popular

FDX Earnings: FedEx Q1 adjusted earnings drop; revenue up 5%

Cargo giant FedEx Corporation (NYSE: FDX) Thursday reported a decline in first-quarter adjusted earnings, despite an increase in revenues. The company also provided guidance for fiscal 2023. Net income, adjusted

Key highlights from Darden Restaurants (DRI) Q1 2023 earnings results

Darden Restaurants, Inc. (NYSE:DRI) reported first quarter 2023 earnings results. Total sales increased 6.1% year-over-year to $2.4 billion, driven by blended same-restaurant sales growth of 4.2%. Net earnings amounted to

ACN Earnings: Key quarterly highlights from Accenture’s Q4 2022 financial results

Accenture (NYSE: ACN) reported fourth quarter 2022 earnings results today. Total revenues were $15.4 billion, up 15% year-over-year in US dollars and up 22.4% in local currency. Net income attributable

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top