Smartsheet Stock Jumps On Q1 Earnings Beat, Management Sees 'Pivotal Year' Ahead
Portfolio Pulse from Adam Eckert
Smartsheet Inc (NYSE:SMAR) shares surged in after-hours trading following a strong Q1 earnings report. The company reported Q1 revenue of $263 million and EPS of 32 cents, both beating estimates. Smartsheet also announced a $150 million stock repurchase program and provided optimistic guidance for Q2 and the full year.
June 05, 2024 | 8:56 pm
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Smartsheet reported Q1 revenue of $263 million and EPS of 32 cents, both beating estimates. The company also announced a $150 million stock repurchase program and provided optimistic guidance for Q2 and the full year. Shares surged 13.1% in after-hours trading.
The strong Q1 earnings beat, optimistic guidance, and the announcement of a $150 million stock repurchase program are likely to positively impact Smartsheet's stock price in the short term. The 13.1% surge in after-hours trading reflects investor confidence.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100