Why Smartsheet Stock Popped Today
Shares of Smartsheet (NYSE: SMAR) were up 9.4% as of 2 p.m. ET Friday after the work-management software company announced strong fiscal second-quarter 2024 results for the period ended July 31.
Quarterly revenue climbed 26% year over year to $235.6 million, translating to adjusted net income of $22 million, or $0.16 per share. Analysts on average were expecting earnings of only $0.07 per share on revenue of $229.6 million.
CEO Mark Mader said the company easily exceeded all of its guidance, crediting the platform's scalability for driving "strong demand from enterprises looking for solutions to manage their mission-critical work securely and consistently."
Source Fool.com
Smartsheet Inc. Stock
€38.43
-0.960%
We see a rather positive sentiment for Smartsheet Inc. with 12 Buy predictions and 1 Sell predictions.
With a target price of 48 € there is a positive potential of 24.9% for Smartsheet Inc. compared to the current price of 38.43 €.
