The correction in the American stock market continues, which means that the search for promising stocks that will allow you to safely survive turbulence and bring good income is still relevant. Smartsheet is a workspace for automating workflows, creating new solutions using code-free development, collaboration on projects, and so on. At the moment, SMAR shares are trading 9% below the mark of the beginning of 2021, and the EV/S ratio (expected revenue next year) is 11.5x. Wall Street expects revenue growth in 2022 by 29% YoY, to $680.7 million.
Remote work is still popular and there are no signs of a decrease in interest in such a format. Thus, the demand for tools for organizing effective communication of teams will continue. The reputation of Smartsheet allows you to attract an increasing number of large customers: according to the results of the previous quarter, the number of users with a check of $ 100 thousand or more increased by 73% yoy, to 750. In general, the net revenue retention rate was 130%, which means that on average existing customers began to pay 30% more than last year. Business diversification is also taking place: in 2020, Brandfolder was bought, which develops solutions for managing and analyzing digital web content. Further release of new products will allow maintaining high rates of revenue growth.