Sprout Social (NASDAQ:SPT) Updates Q4 Earnings Guidance

Sprout Social (NASDAQ:SPT) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.15 to $0.16 for the period, compared to the consensus earnings per share estimate of $0.16. The company issued revenue guidance of $106.3 million to $107.1 million, compared to the consensus revenue estimate of $107.46 million. Sprout Social also updated its FY 2024 guidance to 0.460-0.470 EPS.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Oppenheimer decreased their price objective on shares of Sprout Social from $43.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Robert W. Baird boosted their price objective on shares of Sprout Social from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. KeyCorp cut shares of Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 price objective for the company. in a report on Thursday, August 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $46.00 price target on shares of Sprout Social in a research note on Friday, August 2nd. Finally, Barclays cut their price target on shares of Sprout Social from $48.00 to $38.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $48.00.

Sprout Social Stock Down 13.8 %

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

Sprout Social (NASDAQ:SPT) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.28) 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 company had revenue of $102.64 million during the quarter, compared to analyst estimates of $102.04 million. Analysts predict that Sprout Social will post -0.9 EPS for the current year.

Insider Activity at Sprout Social

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 transaction of $42,405.00. Following the sale, the chief financial officer now directly owns 158,614 shares in the company, valued at $4,484,017.78. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Sprout Social news, President Ryan Paul Barretto sold 13,306 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $29.23, for a total transaction of $388,934.38. Following the sale, the president now directly owns 470,809 shares in the company, valued at $13,761,747.07. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Preto Joseph Del sold 1,500 shares of the stock in a transaction dated 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 $4,484,017.78. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 62,882 shares of company stock worth $1,801,351. Corporate insiders own 10.97% of the company’s stock.

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.