Sprout Social (NASDAQ:SPT) Releases FY 2024 Earnings Guidance

Sprout Social (NASDAQ:SPT) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 0.450-0.460 for the period, compared to the consensus earnings per share estimate of 0.470. The company issued revenue guidance of $405.0 million-$406.0 million, compared to the consensus revenue estimate of $405.5 million. Sprout Social also updated its FY24 guidance to $0.45 to $0.46 EPS.

Wall Street Analyst Weigh In

SPT has been the topic of a number of research reports. Robert W. Baird upped their price target on Sprout Social from $38.00 to $40.00 and gave the stock a neutral rating in a report on Friday. Barclays dropped their price target on Sprout Social from $50.00 to $48.00 and set an overweight rating for the company in a research report on Tuesday, July 16th. Piper Sandler lowered shares of Sprout Social from an overweight rating to a neutral rating and decreased their price objective for the stock from $66.00 to $40.00 in a research report on Friday, May 3rd. The Goldman Sachs Group cut shares of Sprout Social from a buy rating to a neutral rating and cut their target price for the stock from $80.00 to $44.00 in a research report on Friday, May 3rd. Finally, Oppenheimer reduced their price target on shares of Sprout Social from $76.00 to $43.00 and set an outperform rating on the stock in a report on Friday, May 3rd. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $56.57.

Sprout Social Trading Down 11.6 %

SPT stock traded down $4.33 on Friday, hitting $32.93. 1,049,495 shares of the company were exchanged, compared to its average volume of 613,503. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of -26.34 and a beta of 1.00. The business’s fifty day moving average is $35.08 and its two-hundred day moving average is $47.31. Sprout Social has a twelve month low of $25.68 and a twelve month high of $68.41. 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 issued its earnings results on Thursday, May 2nd. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.10. The business had revenue of $96.78 million for the quarter, compared to analyst estimates of $97.29 million. Sprout Social had a negative return on equity of 44.88% and a negative net margin of 19.60%. As a group, research analysts forecast that Sprout Social will post -0.84 earnings per share for the current year.

Insider Activity

In related news, President Ryan Paul Barretto sold 15,586 shares of Sprout Social stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $32.14, for a total transaction of $500,934.04. Following the transaction, the president now owns 484,115 shares in the company, valued at approximately $15,559,456.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Aaron Edward Frederick Rankin sold 1,184 shares of Sprout Social stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $32.14, for a total transaction of $38,053.76. Following the sale, the director now owns 43,303 shares in the company, valued at $1,391,758.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Ryan Paul Barretto sold 15,586 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $32.14, for a total transaction of $500,934.04. Following the completion of the transaction, the president now owns 484,115 shares of the company’s stock, valued at $15,559,456.10. The disclosure for this sale can be found here. Insiders have sold 92,470 shares of company stock valued at $3,063,248 in the last three months. 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.