Why Smartsheet Stock Bucked the Market Trend and Was Gaining Ground Friday

·2-min read
Why Smartsheet Stock Bucked the Market Trend and Was Gaining Ground Friday

Shares of Smartsheet (NYSE: SMAR) surged out of the gate Friday, jumping as much as 16.5%, before being weighed down by the falling market. The catalyst that sent the workflow management software provider higher was a financial report that exceeded already bullish expectations. For its fiscal 2022 third quarter (ended Oct. 31), Smartsheet delivered revenue of $144.6 million, up 46% year over year, driven by subscription revenue of $132.6 million, also up 46%.

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