{"id":20078,"date":"2023-06-08T14:31:37","date_gmt":"2023-06-08T18:31:37","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/smartsheet-stock-is-tanking-some-analysts-see-an-opportunity\/"},"modified":"2023-06-08T14:31:38","modified_gmt":"2023-06-08T18:31:38","slug":"smartsheet-stock-is-tanking-some-analysts-see-an-opportunity","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=20078","title":{"rendered":"Smartsheet Stock Is Tanking. Some Analysts See an Opportunity."},"content":{"rendered":"
\n
<\/p>\n
<\/p>\n<\/figure><\/div>\n

Shares of
\n Smartsheet Inc.
\n were falling early on Thursday after the cloud work-management platform reported disappointing results. Some analysts say the stock is still a buy.<\/p>\n

\n Smartsheet
\n (ticker: SMAR) was down 17.9% to $40.24 in the premarket. The company\u2019s earnings beat estimates, but billings came in below expectations.<\/p>\n

\n

The shares have climbed almost 25% this year, as of Wednesday\u2019s close, but the gains could be almost entirely wiped out if the premarket price holds through the day. <\/p>\n

Guggenheim analysts led by John DiFucci said the company\u2019s valuation, as based on discounted cash flow, is compelling. They give the stock a price target of $57 and a Buy rating.<\/p>\n

KeyBanc lowered its price target to $52 from $53 after the results, but kept its Overweight rating on the shares.<\/p>\n

\u201cWe remain encouraged by the company\u2019s continued focus and improvements in profitability,\u201d KeyBanc analysts led by Jason Celino wrote.<\/p>\n

RBC Capital Markets reduced its price target for Smartshetts to $43 from $49 and maintained a Sector Perform rating.<\/p>\n

Smartsheet reported adjusted earnings of 18 cents per share in its fiscal first quarter, beating analysts\u2019 estimate of 8 cents per share, according to FactSet data.<\/p>\n

Write to Brian Swint at brian.swint@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Shares of Smartsheet Inc. were falling early on Thursday after the cloud work-management platform reported disappointing results. Some analysts say the stock is still a buy. Smartsheet (ticker: SMAR) was down 17.9% to $40.24 in the premarket. The company\u2019s earnings beat estimates, but billings came in below expectations. The shares have climbed almost 25% this […]<\/p>\n","protected":false},"author":1,"featured_media":20079,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-20078","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nSmartsheet Stock Is Tanking. 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