What's Going On With Smartsheet Stock Thursday?
Portfolio Pulse from Adam Eckert
Smartsheet Inc (NYSE:SMAR) reported Q1 revenue of $219.89 million, beating estimates of $214.07 million, and adjusted EPS of 18 cents, surpassing estimates of 8 cents. The company expects Q2 revenue between $228 million and $231 million and raised its full-year adjusted earnings guidance. However, SMAR shares are trading lower, and analysts have updated their price targets.
June 08, 2023 | 3:32 pm
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Smartsheet reported better-than-expected Q1 results and raised its full-year guidance, but shares are trading lower as analysts update their price targets.
Despite Smartsheet's strong Q1 results and raised guidance, the stock is trading lower, possibly due to mixed analyst updates. Oppenheimer and Morgan Stanley maintained positive ratings, but Credit Suisse reiterated a Neutral rating. This could create short-term downward pressure on the stock.
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