Sprout Social (NASDAQ:SPT) issued an update on its second quarter 2021 earnings guidance on Tuesday morning. The company provided EPS guidance of -0.100–0.090 for the period, compared to the Thomson Reuters consensus EPS estimate of $-0.100. The company issued revenue guidance of $43 million-$43.10 million, compared to the consensus revenue estimate of $41.29 million.Sprout Social also updated its FY 2021 guidance to -0.350–0.340 EPS.
Several research firms recently commented on SPT. Needham & Company LLC lifted their price target on Sprout Social from $52.00 to $80.00 and gave the stock a buy rating in a research report on Wednesday, March 3rd. Piper Sandler assumed coverage on Sprout Social in a research report on Monday. They issued an overweight rating and a $86.00 price target for the company. Morgan Stanley boosted their price objective on shares of Sprout Social from $53.00 to $81.00 and gave the company an equal weight rating in a research report on Tuesday, March 2nd. Barclays raised their target price on shares of Sprout Social from $68.00 to $84.00 and gave the stock an overweight rating in a report on Tuesday, March 2nd. Finally, Canaccord Genuity upped their price target on shares of Sprout Social from $50.00 to $77.00 and gave the company a buy rating in a report on Tuesday, March 2nd. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $67.20.
NASDAQ:SPT traded down $4.71 during midday trading on Tuesday, hitting $60.94. The stock had a trading volume of 399,882 shares, compared to its average volume of 574,298. The stock has a 50-day moving average of $60.90 and a 200 day moving average of $57.59. The company has a market capitalization of $3.25 billion and a price-to-earnings ratio of -37.85. Sprout Social has a one year low of $16.31 and a one year high of $82.47.
Sprout Social (NASDAQ:SPT) last announced its quarterly earnings results on Tuesday, May 4th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.05. The firm had revenue of $40.80 million for the quarter, compared to analysts’ expectations of $39.73 million. The business’s quarterly revenue was up 33.8% compared to the same quarter last year. As a group, research analysts predict that Sprout Social will post -0.68 EPS for the current year.
In other Sprout Social news, Director Steven A. Collins sold 10,000 shares of the business’s stock in a transaction dated Monday, March 1st. The shares were sold at an average price of $71.88, for a total value of $718,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Ryan Paul Barretto sold 25,600 shares of the stock in a transaction dated Monday, March 1st. The shares were sold at an average price of $71.11, for a total transaction of $1,820,416.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 184,661 shares of company stock worth $11,472,759.
Sprout Social Company Profile
Sprout Social, Inc designs, develops, and operates a web-based social media management tool in Americas, EMEA, and the Asia Pacific. The company offers cloud software that brings together social messaging, data, and workflows in a unified system of record, intelligence, and action. It provides various integrated tools in a range of functions comprising social engagement/response, publishing, reporting and analytics, social listening and business intelligence, reputation management, employee advocacy, and automation and workflows.
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