Stock Alert: Smartsheet Up 5%

Shares of cloud-based platform Smartsheet Inc. (SMAR) are up 5 percent on Thursday's trading after the company posted wider loss, which, however, beat Street expectations.

The company reported first-quarter net loss of $37.1 million or $0.30 per share, more than net loss of $27.8 million or $0.23 per share in the same period last year.

On an adjusted basis, net loss was $10.7 million or $0.09 per share, compared to net loss of $12.5 million or $0.11 per share in the year-ago quarter while analysts were looking for net loss of $0.14 per share.

Revenue climbed 37 percent to $117.1 million from $85.5 million a year ago.

The stock is currently trading at $63.40, up $3.28 or 5 percent on the NYSE. SMAR has traded between $40.21 and $85.43 in the past 52 weeks.

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