Why Did Smartsheet Shares Drop 8%?
<p><a href='https://financialmodelingprep.com/financial-summary/SMAR'>Smartsheet Inc. (NYSE:SMAR) </a>shares closed around 8% lower on Monday following the company’s virtual investor day, where management officially pushed out the timeframe to reach $1 billion revenue to 2024- 2025 from 2023-2035 prior.</p>
<p>Analysts at RBC Capital think that the negative market reaction is very surprising as the push-out was already implied, given management commentary on earnings calls. </p>
<p>Instead, the analysts believe that the Investor Day was solid, with the following key takeaways:</p>
<p>(1) 2025 targets of 30% growth and 10% FCF, </p>
<p>(2) positive data points on enterprise traction,</p>
<p>(3) encouraging proof points on capabilities-based product adoption.</p>

NYSE:SMAR