Smartsheet shares are trading lower after the company reported Q4 financial results and issued Q1 revenue guidance and FY25 revenue guidance below estimates. Also, Barclays and Keybanc lowered their respective price targets on the stock.
Portfolio Pulse from Benzinga Newsdesk
Smartsheet's shares dropped following its Q4 financial results announcement, with revenue guidance for Q1 and FY25 falling short of expectations. Additionally, Barclays and Keybanc reduced their price targets for the stock.
March 15, 2024 | 11:36 am
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Smartsheet's stock price is likely to face downward pressure in the short term due to disappointing Q4 financial results and lower-than-expected revenue guidance for Q1 and FY25. Additionally, price target reductions by Barclays and Keybanc could further impact investor sentiment.
The negative reaction to Smartsheet's Q4 financial performance and the subsequent lowering of revenue forecasts for Q1 and FY25 are clear indicators of potential short-term stock price decline. The adjustments in price targets by reputable financial institutions like Barclays and Keybanc further validate the anticipated negative impact on the stock, as these actions typically influence investor perception and can lead to selling pressure.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100