2024-06-06 08:00:00 ET
Summary
- Smartsheet stock rallied more than 10% after reporting strong Q1 results and announcing a share buyback program.
- The company plans to overhaul its pricing model to attract more users at a lower per-user rate.
- Smartsheet also significantly boosted its operating margin guidance for the year, a result of disciplined opex management.
- SMAR stock still trades at a very cheap ~4.6x forward revenue multiple.
It has been relatively rare for small and mid-cap growth stocks to exceed expectations and rally this earnings season. Smartsheet ( SMAR ) was a welcome outlier: this high-quality project management and workflow software company, in my view, has been long overdue for a rally. After reporting Q1 results, the stock shot up more than 10%....
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Smartsheet Stock: Finally Showing The Capacity To Rally