Smartsheet Inc Class A

SMAR: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$16.00	Ttgcr	Dyxzkrzkx

Smartsheet Earnings: Strong Profitability Aided by Operational Efficiency Drives Q2 Outperformance

Emma Williams ,

Sep 6, 2024

We are maintaining our $60 fair value estimate for narrow-moat Smartsheet after the firm delivered solid second-quarter results, with the top line above our forecasts and the bottom line surpassing all estimates. Smartsheet has shown resilience in a tight software market as the enterprise segment continues to gain momentum and strong profitability outperformance propels the company forward. Shares were trading up 4% after hours, and we currently view the company as undervalued.

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