Sprout Social (NASDAQ:SPT) Issues FY24 Earnings Guidance

Sprout Social (NASDAQ:SPT) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.45-$0.46 for the period, compared to the consensus earnings per share estimate of $0.23. The company issued revenue guidance of $405-$406 million, compared to the consensus revenue estimate of $425.52 million. Sprout Social also updated its Q2 guidance to $0.07-$0.08 EPS.

Analysts Set New Price Targets

Several brokerages have weighed in on SPT. Needham & Company LLC lowered their target price on Sprout Social from $75.00 to $55.00 and set a buy rating for the company in a report on Friday. BTIG Research lowered shares of Sprout Social from a buy rating to a neutral rating in a research note on Friday. Barclays lowered their price target on shares of Sprout Social from $72.00 to $50.00 and set an overweight rating on the stock in a report on Friday. Cantor Fitzgerald reduced their price objective on shares of Sprout Social from $74.00 to $46.00 and set an overweight rating for the company in a research report on Friday. Finally, Jefferies Financial Group assumed coverage on shares of Sprout Social in a report on Wednesday, February 7th. They set a buy rating and a $76.00 target price for the company. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $57.07.

Sprout Social Trading Down 40.1 %

NASDAQ:SPT traded down $19.33 on Friday, reaching $28.82. The stock had a trading volume of 13,470,229 shares, compared to its average volume of 679,800. The firm’s fifty day moving average is $55.98 and its two-hundred day moving average is $56.80. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market cap of $1.62 billion, a price-to-earnings ratio of -23.06 and a beta of 1.09. Sprout Social has a 12-month low of $27.85 and a 12-month high of $68.41.

Sprout Social (NASDAQ:SPT) last issued its earnings results on Tuesday, February 20th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). Sprout Social had a negative net margin of 19.64% and a negative return on equity of 42.60%. The firm had revenue of $93.58 million during the quarter, compared to analyst estimates of $90.76 million. Equities analysts expect that Sprout Social will post -1.17 EPS for the current fiscal year.

Insider Transactions at Sprout Social

In other news, CFO Preto Joseph Del sold 1,500 shares of Sprout Social stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $59.71, for a total value of $89,565.00. Following the completion of the transaction, the chief financial officer now directly owns 127,322 shares of the company’s stock, valued at approximately $7,602,396.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Preto Joseph Del sold 1,500 shares of the business’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $59.71, for a total value of $89,565.00. Following the sale, the chief financial officer now owns 127,322 shares of the company’s stock, valued at approximately $7,602,396.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Ryan Paul Barretto sold 5,600 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $59.63, for a total transaction of $333,928.00. Following the completion of the sale, the president now owns 209,375 shares of the company’s stock, valued at approximately $12,485,031.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 140,200 shares of company stock valued at $8,171,958. 10.97% of the stock is currently owned by insiders.

Sprout Social Company Profile

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.