SMAR - Smartsheet: Cheaper Than Ever But I Wonder If It Is Smart
2024-05-29 17:12:22 ET
Summary
- Smartsheet Inc. offers collaboration software for unstructured work, as I wonder if the company could face competition from AI.
- Shares have traded flat while the business has tripled over the past five years, but per-share growth has been slower due to dilution from losses and stock-based compensation expenses.
- Smartsheet has seen narrowing losses and expects to see further sales growth, but concerns remain about economic profits and competition.
It hasn't been since 2019 when I last covered Smartsheet Inc. (SMAR) , which makes an update on the investment thesis long overdue. Fast forwarding nearly five years in time, Smartsheet has seen its shares trade flat, while the business has more than tripled in size since, although growth on a per-share basis has been slower amidst dilution incurred from losses and stock-based compensation expenses....
Smartsheet: Cheaper Than Ever, But I Wonder If It Is Smart