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

Sprout Social (NASDAQ:SPT) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 0.450-0.460 for the period, compared to the consensus EPS 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.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SPT. KeyCorp lowered Sprout Social from an overweight rating to a sector weight rating in a research report on Friday, May 3rd. Robert W. Baird lowered their target price on shares of Sprout Social from $45.00 to $38.00 and set a neutral rating for the company in a research note on Thursday, June 27th. Barclays lowered their target price on shares of Sprout Social from $50.00 to $48.00 and set an overweight rating for the company in a research note on Tuesday, July 16th. Morgan Stanley dropped their price target on shares of Sprout Social from $65.00 to $49.00 and set an equal weight rating on the stock in a research note on Friday, May 3rd. Finally, William Blair restated a market perform rating on shares of Sprout Social in a report on Friday, May 3rd. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Sprout Social presently has a consensus rating of Moderate Buy and a consensus target price of $56.43.

Sprout Social Price Performance

SPT stock traded down $1.81 during trading on Thursday, reaching $37.26. 998,510 shares of the company were exchanged, compared to its average volume of 859,442. Sprout Social has a 52-week low of $25.68 and a 52-week high of $68.41. The company has a market cap of $2.11 billion, a P/E ratio of -29.81 and a beta of 1.00. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.97 and a current ratio of 0.97. The stock’s 50 day moving average price is $34.97 and its 200 day moving average price is $47.67.

Sprout Social (NASDAQ:SPT) last released 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. Sprout Social had a negative net margin of 19.64% and a negative return on equity of 42.51%. The company had revenue of $96.78 million during the quarter, compared to the consensus estimate of $97.29 million. As a group, analysts predict that Sprout Social will post -0.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Justyn Russell Howard sold 20,000 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $36.13, for a total value of $722,600.00. Following the sale, the chief executive officer now owns 398,229 shares of the company’s stock, valued at approximately $14,388,013.77. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Preto Joseph Del sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $28.51, for a total value of $42,765.00. Following the completion of the transaction, the chief financial officer now owns 171,144 shares in the company, valued at approximately $4,879,315.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Justyn Russell Howard sold 20,000 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $36.13, for a total value of $722,600.00. Following the sale, the chief executive officer now owns 398,229 shares in the company, valued at approximately $14,388,013.77. The disclosure for this sale can be found here. Insiders sold 92,470 shares of company stock valued at $3,063,248 over the last ninety days. 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.