Smartsheet Inc. (NYSE:SMAR) reported upbeat financial results for the fourth quarter on Thursday.
Smartsheet posted adjusted earnings of 34 cents per share, beating market estimates of 18 cents per share. The company’s quarterly sales came in at $256.900 million versus estimates of $255.379 million, according to data from Benzinga Pro.
Smartsheet said it sees FY25 adjusted earnings of $1.06 to $1.13 per share, versus estimates of 94 cents per share. The company expects revenue of $1.113 billion to $1.118 billion, versus expectations of $1.144 billion.
Smartsheet expects first-quarter adjusted earnings of 26 cents to 27 cents per share, versus market estimates of 20 cents per share. The company sees revenue of $257 million to $259 million, versus expectations of $263.609 million.
Smartsheet shares fell 10.4% to $36.10 in pre-market trading.
These analysts made changes to their price targets on Smartsheet following earnings announcement.
- Keybanc lowered the price target on Smartsheet from $53 to $51. Keybanc analyst Jason Celino maintained an Overweight rating.
- Barclays cut the price target on Smartsheet from $50 to $40. Barclays analyst Ryan Macwilliams maintained an Equal-Weight rating.
- Oppenheimer slashed the price target on Smartsheet from $60 to $55. Oppenheimer analyst George Iwanyc maintained an Outperform rating.
- Wells Fargo cut the price target on Smartsheet from $55 to $47. Wells Fargo analyst Michael Berg maintained an Overweight rating.
- Jefferies cut the price target on Smartsheet from $57 to $50. Jefferies analyst Brent Thill maintained a Buy rating.
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