2024-03-17 08:30:24 ET
Summary
- Smartsheet's stock has been negatively impacted by quarterly earnings, making it an attractive value play in an expensive market.
- It faces the same challenges as most of the rest of the software sector, most notably weakness among SMB customers.
- Over the long run, however, Smartsheet still benefits from greater adoption of distributed workforces. Its growth plus margin profile remains attractive.
- The stock is cheap at ~4x forward revenue.
No matter what, it seems that some stocks are completely incapable of avoiding the so-called "penalty box." Each and every earnings quarter is read in a negative light, and momentum only works in the downward direction....
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Smartsheet: Ignore Common Sentiment And Buy