Smartsheet rises on upbeat forecast, Q2 results beat

Smartsheet

06/09/2024 12:47

** Shares in work management firm Smartsheet  SMAR.N  rise
4.5% to $51.55 premarket
    ** Co forecasts FY adj. EPS between $1.36 and $1.39; above
analyst estimate of $1.33 - LSEG data
    ** Q2 revenue of $276.4 mln beat Wall Street view of $274.2
mln
    ** Quarterly adj. EPS of 44 cents beat market consensus of
29 cents
    ** Private equity consortium including Vista Equity Partners
and Blackstone  BX.N  is in talks to acquire co, according to an
exclusive report by Reuters
    ** At least nine brokerages raise their target price on SMAR
following results
    ** 16 of 19 brokerages rate the stock "buy" or higher, three
"hold"; their median PT is $59
    ** Up to Thursday's close, stock had risen 3.2% YTD

 (Reporting by Khushi Singh in Bengaluru)
 ((Khushi.Singh@thomsonreuters.com;))