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.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Robert W. Baird boosted their price objective on Sprout Social from $38.00 to $40.00 and gave the stock a neutral rating in a research note on Friday. BTIG Research lowered Sprout Social from a buy rating to a neutral rating in a research note on Friday, May 3rd. KeyCorp lowered Sprout Social from an overweight rating to a sector weight rating in a research note on Friday, May 3rd. Morgan Stanley reduced their price objective on 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, The Goldman Sachs Group downgraded Sprout Social from a buy rating to a neutral rating and dropped their target price for the stock from $80.00 to $44.00 in a research report on Friday, May 3rd. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Sprout Social has a consensus rating of Moderate Buy and an average price target of $56.57.

Sprout Social Trading Down 11.6 %

NASDAQ SPT traded down $4.33 on Friday, reaching $32.93. The company had a trading volume of 1,049,495 shares, compared to its average volume of 613,503. The stock’s 50 day moving average is $35.08 and its 200-day moving average is $47.31. 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 quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.31. Sprout Social has a 52 week low of $25.68 and a 52 week high of $68.41.

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

Insiders Place Their Bets

In other Sprout Social news, Director Aaron Edward Frederick Rankin sold 1,184 shares of the stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $32.14, for a total value of $38,053.76. Following the completion of the sale, the director now directly owns 43,303 shares in the company, valued at $1,391,758.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Sprout Social news, CEO Justyn Russell Howard sold 20,000 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $28.50, for a total value of $570,000.00. Following the completion of the sale, the chief executive officer now directly owns 406,636 shares in the company, valued at $11,589,126. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Aaron Edward Frederick Rankin sold 1,184 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $32.14, for a total value of $38,053.76. Following the transaction, the director now directly owns 43,303 shares of the company’s stock, valued at $1,391,758.42. The disclosure for this sale can be found here. Insiders sold 92,470 shares of company stock worth $3,063,248 over the last ninety days. 10.97% of the stock is currently owned by corporate 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.