Image Source: DepositPhotos
Smartsheet (SMAR), the collaborative work management software provider, reported Q2 results that were pretty much in-line with expectations. Revenues were up 17%, with average revenue per customer up 16%, and net retention of 113%.
All of these are good figures, showing Smartsheet as a stable, reasonably modest growth firm. I did like that their largest cohort, customers over $100k annually, grew 23% - these are your stickiest and most-likely-to-expand clients.
This continues to look like a solid choice on the Green Screens but it does trade a good bit over the (re-iterated) $45 fair value target. We will leave it on the Watch List.
More By This Author:
CrowdStrike Reports After The Fallout
Oddity Is An Intriguing Stock
A Delicious Q2 For Chipotle
Comments
Log in or sign up to join the conversation.