These Analysts Cut Their Forecasts On Smartsheet After Q4 Results
Portfolio Pulse from Avi Kapoor
Smartsheet Inc. (NYSE:SMAR) reported Q4 results surpassing market estimates with adjusted earnings of 34 cents per share and quarterly sales of $256.900 million. However, the company's FY25 revenue forecast fell short of expectations, leading to a 10.4% drop in pre-market trading. Analysts from Keybanc, Barclays, Oppenheimer, Wells Fargo, and Jefferies adjusted their price targets on Smartsheet following the earnings announcement.
March 15, 2024 | 12:48 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Smartsheet's Q4 earnings beat estimates but its FY25 revenue forecast disappointed, leading to a 10.4% pre-market stock drop. Analysts have adjusted their price targets.
The positive Q4 earnings report was overshadowed by a lower than expected revenue forecast for FY25, leading to a significant pre-market stock price drop. Analysts' adjustments to price targets reflect a recalibration of expectations based on the new financial outlook, indicating a bearish short-term sentiment.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100