The Latest Breaking News from SMAR

With organizations embracing innovative software solutions across diverse business functions globally, the software industry is poised for sustained and steady growth. Hence, fundamentally sound software stocks Palantir Technologies (PLTR), Elastic (ESTC), and Smartsheet (SMAR), with massive growth potential, might be ideal additions to one’s watchlist. Read more.

While macroeconomic challenges have impacted the software industry, its long-term prospects remain robust. Thus, investors could consider adding software stocks Palantir Technologies (PLTR) and Smartsheet (SMAR) to their watchlist now. Keep reading.

Enterprise software firm Smartsheet beat Wall Street's targets for its fiscal first quarter but disappointed with its sales projections.

Tech futures umped up after a debt-ceiling deal. Tesla CEO Elon Musk is in China. Nvidia unveiled new AI offerings.

Smartsheet is the IBD Stock of the Day ahead of its first-quarter earnings report on June 7. The software maker's shares are up 20% this year.

Smartsheet shares popped on July-quarter earnings and revenue that topped estimates, though management lowered its 2022 billings growth guidance.

Smartsheet Inc (NYSE:SMAR) reported first-quarter revenue growth of 44% year-over-year to $168.3 million, beating the consensus of $162.55 million. Adjusted EPS was $(0.18), beat the consensus of $(0.19). The gross margin expanded by 62 bps to 77.9%. Loss from operations widened to $(69.8) million from $(38.36) million in 1Q22. SMAR's net operating…

Smartsheet reported April-quarter earnings and revenue that edged by estimates while the company's own outlook for SMAR stock disappointed.

Due to rising inflation, the Fed’s tightening monetary policy, slowing economic growth, and geopolitical strife in Europe, technology stocks are expected to remain under pressure. Thus, we think overvalued SaaS stocks Palantir (PLTR), UiPath (PATH), and Smartsheet (SMAR) are best avoided now, given their weak fundamentals and growth prospects.