Smartsheet might be another example of how profitable the sector of Software as a Service can be, also known as SaaS sector, as the company went public back in April 2018 at the very beginning of the IPO boom that took place in 2018, while the trend continues in 2019 as well.
Smartsheet started their IPO at the price of 15$ per share, climbing to 19$ by the time the first trading session closed.
The company based in Washington previously raised 113 million dollars through private funding rounds, which brought Smartsheet IPO evaluation to 990 million dollars.
Smartsheet raised 150 million dollars with their IPO, going public under the thicker SMAR.
How Profitable is Investing in Smartsheet Shares (SMAR)?
Starting at 15$ and ending the first trading session at 19$, Smartsheet shares touched a peak price of 45.69$ per share on March 20th, after the company published their report for fourth quarter for fiscal year 2018.
The company stated in their financial report that Smartsheets is reporting losses of 11.7 million dollars, or 11 cents per share, while the company also saw their revenue surging in the given period by around 20 million dollars, generating a total of 52.2 million dollars in oppose to 33 million dollars generated for the fiscal year of 2017.
Additionally, Wall Street watchdogs are predicting that the company might bring their sales to 49.7 million dollars in accordance with the report found at FactSet.
Smartsheet also shared that they expect to see a loss of 18 to 19 cents in the first quarter of 2019, expecting to see revenues settled between 54 and 55 million dollars, while the market watchers suggest that the company could top 52.4 million dollars for Q1 2019.
At the beginning of April and Q2 of 2019, Smartsheet shares are seeing a weak decline in the second week of April, however, the shares are still favorably priced at 38$.