The Latest Breaking News from SMAR

With rapid digitalization, the growing dependence of businesses on software solutions, and remarkable technological advancements, the software industry is poised to witness solid long-term growth. Hence, it could be wise to invest in quality software stocks Splunk (SPLK), Smartsheet (SMAR), and Park City Group (PCYG), which are attracting the attention…

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…

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.

Within the last quarter, Smartsheet (NYSE:SMAR) has observed the following analyst ratings: