Why Smartsheet Stock Surged 20% in November
Shares of Smartsheet (NYSE: SMAR) gained 20.4% last month, according to data provided by S&P Global Market Intelligence.
In the year or so since its initial public offering in December 2018, investors have been generally bullish about the software-as-a-service company's long-term growth prospects. The stock is currently up 127% since the IPO. The bounce last month could be attributed to nothing more than a rebound in the shares after their dip during the prior two.
Investors were obviously anticipating a strong third-quarter report, which is for the most part what they got when Smartsheet announced better-than-expected earnings on Wednesday.
Source Fool.com
