logo
Plus   Neg
Share
Email

Stock Alert: Smartsheet Falls 22% On Outlook

Shares of enterprise platform Smartsheet Inc. (SMAR) are falling more than 22% Thursday morning after the company announced second-quarter outlook that fall short of guidance.

For the second quarter, Smartsheet expects loss on an adjusted basis to be in the range of $0.18 to $0.16 per share, while analysts polled by Thomson Reuters see loss of $0.14 per share.

The company expects second-quarter revenue to be in the range of $86.0 million to $87.0 million. The consensus estimate is at $88.23 million.

Wednesday the company reported first-quarter revenue of $85.5 million, an increase of 52% year over year.

Loss on an adjusted basis in the first quarter was $0.11 per share that beat the analysts' view of $0.19 loss per share.

Smartsheet stock is currently trading at $45.69. It has traded in the range of $30.91- $60.45 in the past one year.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Consumers plan to spend less overall on gifts, holiday items, and non-gift purchases for themselves this holiday season, according to an annual survey by the National Retail Federation and Prosper Insights & Analytics. The survey also found that one in five, or 19 percent of holiday shoppers who typically travel for the holidays, prefer to remain at home this year due to the coronavirus pandemic. Microsoft is in agreement with Alaska Airlines to enable flying more sustainably on three most popular routes traveled by Microsoft employees on Alaska Airlines, which uses sustainable aviation fuel (SAF). The SAF, supplied by SkyNRG, is an important option for the aviation industry to reduce carbon (CO2) emissions on a life-cycle basis. Walmart and Sam's Club announced options for customers to safely dispose unused, unwanted and expired medication throughout the year. With this, the retail giant aims to help the public from potential danger for misuse and abuse of prescription medications. On Saturday, October 24, the company will host in-person medication disposal events at select store and club locations across U.S.
RELATED NEWS
Follow RTT