Sprout Social (NASDAQ:SPT) Updates Q4 Earnings Guidance

Sprout Social (NASDAQ:SPT) updated its fourth quarter earnings guidance on Thursday. The company provided EPS guidance of $0.15 to $0.16 for the period, compared to the consensus EPS 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.

Sprout Social Price Performance

SPT 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 quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.26. Sprout Social has a 1 year low of $25.05 and a 1 year high of $68.41. The business’s 50 day moving average price is $28.13 and its two-hundred day moving average price is $32.39.

Sprout Social (NASDAQ:SPT) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). The business had revenue of $102.64 million during the quarter, compared to analyst estimates of $102.04 million. Sprout Social had a negative net margin of 17.24% and a negative return on equity of 41.65%. On average, sell-side analysts anticipate that Sprout Social will post -0.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. KeyCorp lowered Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 target price on the stock. in a research note on Thursday, August 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $46.00 price objective on shares of Sprout Social in a research note on Friday, August 2nd. Oppenheimer reduced their target price on shares of Sprout Social from $43.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Robert W. Baird lifted their price target on shares of Sprout Social from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Finally, Barclays reduced their price objective 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 equities 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 company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $48.00.

Insider Transactions at Sprout Social

In related news, President Ryan Paul Barretto sold 13,306 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $29.23, for a total value of $388,934.38. Following the completion of the sale, the president now directly owns 470,809 shares in the company, valued at approximately $13,761,747.07. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Justyn Russell Howard sold 20,000 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $28.23, for a total value of $564,600.00. Following the completion of the transaction, the insider now owns 7,417 shares of the company’s stock, valued at approximately $209,381.91. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Ryan Paul Barretto sold 13,306 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $29.23, for a total value of $388,934.38. Following the completion of the transaction, the president now directly owns 470,809 shares in the company, valued at approximately $13,761,747.07. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 62,882 shares of company stock worth $1,801,351 in the last three months. 10.97% of the stock is currently owned by company insiders.

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.