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
€43.45
-1.140%
With 18 Buy predictions and only 1 Sell predictions the community sentiment for the stock is positive.
As a result the target price of 48 € shows a slightly positive potential of 10.47% compared to the current price of 43.45 € for Smartsheet Inc..
