Sprout Social (NASDAQ:SPT) Releases FY24 Earnings Guidance

Sprout Social (NASDAQ:SPT) issued an update on its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.45-$0.46 for the period, compared to the consensus 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.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Robert W. Baird cut shares of Sprout Social from an outperform rating to a neutral rating and dropped their price objective for the stock from $72.00 to $45.00 in a report on Friday. Jefferies Financial Group initiated coverage on shares of Sprout Social in a research report on Wednesday, February 7th. They issued a buy rating and a $76.00 target price for the company. William Blair reiterated a market perform rating on shares of Sprout Social in a report on Friday. BTIG Research cut Sprout Social from a buy rating to a neutral rating in a research report on Friday. Finally, The Goldman Sachs Group lowered Sprout Social from a buy rating to a neutral rating and decreased their price objective for the stock from $80.00 to $44.00 in a report on Friday. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $57.07.

Sprout Social Stock Performance

Shares of Sprout Social stock traded down $19.33 during trading hours on Friday, reaching $28.82. The company had a trading volume of 13,470,229 shares, compared to its average volume of 679,800. 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 firm has a market cap of $1.62 billion, a PE ratio of -23.06 and a beta of 1.09. Sprout Social has a one year low of $27.85 and a one year high of $68.41. The business has a fifty day simple moving average of $55.98 and a 200 day simple moving average of $56.80.

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

Insiders Place Their Bets

In other Sprout Social news, CEO Justyn Russell Howard sold 20,000 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $56.52, for a total value of $1,130,400.00. Following the transaction, the chief executive officer now directly owns 406,636 shares of the company’s stock, valued at $22,983,066.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Justyn Russell Howard sold 20,000 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $56.52, for a total transaction of $1,130,400.00. Following the completion of the transaction, the chief executive officer now directly owns 406,636 shares in the company, valued at approximately $22,983,066.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 value of $333,928.00. Following the sale, the president now owns 209,375 shares in the company, valued at $12,485,031.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 140,200 shares of company stock valued at $8,171,958. Insiders own 10.97% of the company’s stock.

About Sprout Social

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.