(Bloomberg) — Smartsheet Inc.’s first-quarter results were hamstrung by the Covid-19 pandemic as demand and sales cycles were hurt across a range of its segments and management cut its expectations for the year.Jefferies analyst Brent Thill said expectations were elevated going into the earnings and that Smartsheet “unfortunately fell victim to a weaker business environment due to Covid-19.” Thill said bears will also point to a material accounting weakness and reduced close rates. Smartsheet’s stock fell the most on record, sinking 23% at 10:08 a.m. Thursday, after shares closed at a record high on Monday.Some on the Street, such as …read more
Source:: Yahoo Finance
