Sprout Social (NASDAQ:SPT) Releases FY24 Earnings Guidance

Sprout Social (NASDAQ:SPT) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.45 to $0.46 for the period, compared to the consensus estimate of $0.47. The company issued revenue guidance of $405.0 million to $406.0 million, compared to the consensus revenue estimate of $405.53 million. Sprout Social also updated its FY 2024 guidance to 0.450-0.460 EPS.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Needham & Company LLC reaffirmed a buy rating and issued a $55.00 price objective on shares of Sprout Social in a research report on Friday. William Blair reaffirmed a market perform rating on shares of Sprout Social in a research report on Friday, May 3rd. Morgan Stanley reduced their target price on Sprout Social from $65.00 to $49.00 and set an equal weight rating for the company in a research note on Friday, May 3rd. Barclays reduced their target price on Sprout Social from $50.00 to $48.00 and set an overweight rating for the company in a research note on Tuesday, July 16th. Finally, Robert W. Baird increased their target price on Sprout Social from $38.00 to $40.00 and gave the company a neutral rating in a research note on Friday. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $56.57.

Sprout Social Stock Performance

SPT traded down $4.33 during trading hours on Friday, hitting $32.93. 1,049,495 shares of the stock were exchanged, compared to its average volume of 613,503. The stock has a 50-day simple moving average of $35.08 and a 200-day simple moving average of $47.31. Sprout Social has a 12 month low of $25.68 and a 12 month high of $68.41. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of -26.34 and a beta of 1.00. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.97 and a quick ratio of 0.97.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.10. The firm had revenue of $96.78 million for the quarter, compared to analysts’ expectations of $97.29 million. Sprout Social had a negative return on equity of 44.88% and a negative net margin of 19.60%. Analysts anticipate that Sprout Social will post -0.84 earnings per share for the current year.

Insider Buying and Selling at Sprout Social

In other Sprout Social news, CEO Justyn Russell Howard sold 20,000 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $36.13, for a total value of $722,600.00. Following the sale, the chief executive officer now directly owns 398,229 shares in the company, valued at $14,388,013.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, President Ryan Paul Barretto sold 11,200 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $36.10, for a total transaction of $404,320.00. Following the transaction, the president now directly owns 186,975 shares of the company’s stock, valued at $6,749,797.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Justyn Russell Howard sold 20,000 shares of the firm’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $36.13, for a total value of $722,600.00. Following the transaction, the chief executive officer now directly owns 398,229 shares in the company, valued at $14,388,013.77. The disclosure for this sale can be found here. Over the last three months, insiders have sold 92,470 shares of company stock worth $3,063,248. 10.97% of the stock is 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.