Sprout Social (NASDAQ:SPT) Releases FY 2024 Earnings Guidance

by · The Markets Daily

Sprout Social (NASDAQ:SPT – Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 0.460-0.470 for the period, compared to the consensus EPS estimate of 0.460. The company issued revenue guidance of $405.1 million-$405.9 million, compared to the consensus revenue estimate of $405.5 million. Sprout Social also updated its Q4 guidance to $0.15 to $0.16 EPS.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $46.00 target price on shares of Sprout Social in a research report on Friday, August 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 price objective on shares of Sprout Social in a research report on Friday. Barclays cut their price objective on Sprout Social from $48.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. Robert W. Baird upped their price objective on Sprout Social from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, KeyCorp lowered Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 price objective on the stock. in a research report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $48.00.

Get Our Latest Analysis on Sprout Social

Sprout Social Stock Down 13.8 %

NASDAQ SPT traded down $4.29 during trading hours on Friday, hitting $26.71. 1,504,473 shares of the stock were exchanged, compared to its average volume of 401,026. Sprout Social has a 12-month low of $25.05 and a 12-month high of $68.41. The stock has a 50-day moving average of $28.13 and a 200 day moving average of $32.39. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.26.

Sprout Social (NASDAQ:SPT – Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.06). The firm had revenue of $102.64 million for the quarter, compared to analysts’ expectations of $102.04 million. Sprout Social had a negative return on equity of 41.65% and a negative net margin of 17.24%. Sell-side analysts predict that Sprout Social will post -0.9 earnings per share for the current year.

Insider Buying and Selling

In other Sprout Social news, CFO Preto Joseph Del sold 1,500 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $28.27, for a total value of $42,405.00. Following the completion of the transaction, the chief financial officer now directly owns 158,614 shares of the company’s stock, valued at approximately $4,484,017.78. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Justyn Russell Howard sold 8,595 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $29.27, for a total transaction of $251,575.65. Following the sale, the chief executive officer now owns 302,217 shares in the company, valued at approximately $8,845,891.59. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Preto Joseph Del sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $28.27, for a total transaction of $42,405.00. Following the sale, the chief financial officer now owns 158,614 shares in the company, valued at approximately $4,484,017.78. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 62,882 shares of company stock valued at $1,801,351 over the last ninety days. Corporate insiders own 10.97% of the company’s stock.

About Sprout Social

(Get Free Report)

Sprout Social, Inc designs, develops, and operates a web-based social media management platform in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company provides cloud software for social messaging, data and workflows in a unified system of record, intelligence, and action.

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