Sprout Social (NASDAQ:SPT) Issues Q4 2024 Earnings Guidance

by · The Markets Daily

Sprout Social (NASDAQ:SPT – Get Free Report) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided EPS guidance of 0.150-0.160 for the period, compared to the consensus EPS estimate of 0.160. The company issued revenue guidance of $106.3 million-$107.1 million, compared to the consensus revenue estimate of $107.4 million. Sprout Social also updated its FY 2024 guidance to 0.460-0.470 EPS.

Wall Street Analyst Weigh In

SPT has been the topic of a number of recent analyst reports. Barclays reduced their target price on Sprout Social from $48.00 to $38.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Cantor Fitzgerald reissued an “overweight” rating and set a $46.00 price target 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. Robert W. Baird raised their price target on Sprout Social from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Finally, KeyCorp downgraded Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 price target for the company. in a report on Thursday, August 22nd. One research 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 MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $48.00.

Get Our Latest Stock Report on Sprout Social

Sprout Social Price Performance

SPT stock traded down $4.29 during trading on Friday, hitting $26.71. 1,504,473 shares of the company traded hands, compared to its average volume of 401,026. Sprout Social has a 1 year low of $25.05 and a 1 year high of $68.41. The stock’s 50-day simple moving average is $28.13 and its 200 day simple moving average is $32.39. The company has a quick ratio of 0.98, a current 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 data on Thursday, November 7th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). The business had revenue of $102.64 million during the quarter, compared to analysts’ expectations of $102.04 million. Sprout Social had a negative net margin of 17.24% and a negative return on equity of 41.65%. On average, sell-side analysts anticipate that Sprout Social will post -0.9 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Justyn Russell Howard sold 20,000 shares of Sprout Social stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $28.23, for a total value of $564,600.00. Following the sale, the insider now directly owns 7,417 shares of the company’s stock, valued at $209,381.91. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Sprout Social news, CEO Ryan Paul Barretto sold 16,800 shares of the business’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $28.25, for a total transaction of $474,600.00. Following the transaction, the chief executive officer now owns 170,175 shares of the company’s stock, valued at approximately $4,807,443.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Justyn Russell Howard sold 20,000 shares of the business’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $28.23, for a total value of $564,600.00. Following the transaction, the insider now directly owns 7,417 shares in the company, valued at $209,381.91. 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 worth $1,801,351 over the last three months. 10.97% of the stock is currently owned by corporate insiders.

Sprout Social Company Profile

(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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