Smartsheet Shares Up 6% Following Q4 Results
<p><a href='https://financialmodelingprep.com/financial-summary/SMAR'>Smartsheet Inc. (NYSE:SMAR) </a>shares were trading more than 6% higher Wednesday afternoon following the company’s reported Q4 results, with EPS of ($0.12) coming in better than the Street estimate of ($0.15). Quarterly revenue increased 43% year-over-year to $157.4 million, better than the Street estimate of $151.66 million. The company expects full 2023-year EPS to range from ($0.70) to ($0.62), worse than the consensus estimate of ($0.27). Revenue is expected to be $750-755 million, compared to the consensus estimate of $730.11 million.</p>
<p>Despite strong results, the company announced a ramp-up in sales and marketing spend that would contract margins by 5pp this year. Similar to the view on peers Asana and monday.com, analysts at Berenberg Bank believe the investments are needed for Smartsheet to capture share in a relatively unpenetrated market, and that they are further supported by strong sales efficiency metrics. </p>

NYSE:SMAR