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

Sprout Social (NASDAQ:SPT) 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.

Sprout Social Price Performance

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

Sprout Social (NASDAQ:SPT) last announced 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). Sprout Social had a negative net margin of 17.24% and a negative return on equity of 41.65%. The firm had revenue of $102.64 million for the quarter, compared to analyst estimates of $102.04 million. On average, sell-side analysts expect that Sprout Social will post -0.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

SPT has been the topic of a number of recent research reports. Barclays dropped 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. Oppenheimer lowered their price objective on Sprout Social from $43.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Sprout Social in a research note on Friday. KeyCorp cut Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 target price on the stock. in a report on Thursday, August 22nd. Finally, Robert W. Baird lifted their target price on shares of Sprout Social from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Sprout Social has a consensus rating of “Hold” and an average target price of $48.00.

Insider Transactions at Sprout Social

In related news, CEO Justyn Russell Howard sold 8,595 shares of Sprout Social stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $29.27, for a total value of $251,575.65. Following the completion of the transaction, the chief executive officer now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Aaron Edward Frederick Rankin sold 1,181 shares of Sprout Social stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $29.23, for a total transaction of $34,520.63. Following the completion of the sale, the director now directly owns 42,122 shares in the company, valued at approximately $1,231,226.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Justyn Russell Howard sold 8,595 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $29.27, for a total value of $251,575.65. Following the transaction, the chief executive officer now owns 302,217 shares of the company’s stock, valued at approximately $8,845,891.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 62,882 shares of company stock worth $1,801,351 over the last three months. 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.