Smartsheet Trades At A Discount To Peers Despite An Expanding Enterprise Business [Forbes]
Smartsheet Inc. Class A (SMAR)
Last smartsheet inc. class a earnings: 3/17 04:21 pm
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Source: Forbes
in its high-velocity transactional business due to a pullback in spending, it's still growing at a solid pace thanks to an expanding enterprise presence. With Smartsheet shares recently trading around $41 (down from a 52-week high of $52.81), the company's enterprise value is 5.2 times the FY'24 (Jan.) consensus revenue estimate of $952.2 million and just 4.3x the FY'25 consensus of $1.15 billion. Analysts on average look for Smartsheet to deliver top-line growth of 24% in the current fiscal year and 20.6% growth next year. In comparison, the median forward multiple for SaaS companies with growth rates in the 15% to 30% range now stands at 8.3x, according to Altimeter Capital. Smartsheet's work management solutions are used for multiple purposes across many different verticals—including manufacturing, healthcare, finance and retail. The company has more than 13.4 million users on the platform. While many individuals and small teams are on a free version of the platform, Smartsheet
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