Smartsheet Announced Inaugural $150M Share Repurchase Program
Portfolio Pulse from Benzinga Newsdesk
Smartsheet has announced its first-ever share repurchase program, authorizing the buyback of up to $150 million worth of its shares.

June 05, 2024 | 8:11 pm
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Smartsheet has announced its first-ever share repurchase program, authorizing the buyback of up to $150 million worth of its shares.
The announcement of a share repurchase program typically signals that the company believes its stock is undervalued and is confident in its future growth prospects. This can lead to a positive short-term impact on the stock price as it reduces the number of shares outstanding, potentially increasing earnings per share.
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