Sprout Social (NASDAQ:SPT) Updates Q4 2024 Earnings Guidance

Sprout Social (NASDAQ:SPT) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 0.150-0.160 for the period, compared to the consensus estimate of 0.160. The company issued revenue guidance of $106.3 million-$107.1 million, compared to the consensus revenue estimate of $107.4 million. Sprout Social also updated its FY 2024 guidance to 0.460-0.470 EPS.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Robert W. Baird boosted their price target on Sprout Social from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Oppenheimer reduced their price target on Sprout Social from $43.00 to $40.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Cantor Fitzgerald restated an “overweight” rating and set a $46.00 price objective on shares of Sprout Social in a report on Friday, August 2nd. Needham & Company LLC reissued a “buy” rating and issued a $55.00 price objective on shares of Sprout Social in a report on Friday, August 2nd. Finally, Barclays decreased their price objective on Sprout Social from $48.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $48.00.

Sprout Social Price Performance

SPT stock traded up $1.69 during trading on Thursday, hitting $31.00. The company had a trading volume of 1,003,197 shares, compared to its average volume of 746,282. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of -23.17 and a beta of 0.99. Sprout Social has a fifty-two week low of $25.05 and a fifty-two week high of $68.41. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.26. The business has a 50 day moving average of $28.23 and a 200 day moving average of $32.71.

Insiders Place Their Bets

In other Sprout Social news, CFO Preto Joseph Del sold 1,500 shares of Sprout Social stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $28.27, for a total transaction of $42,405.00. Following the completion of the sale, the chief financial officer now owns 158,614 shares of the company’s stock, valued at $4,484,017.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Preto Joseph Del sold 1,500 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $28.27, for a total transaction of $42,405.00. Following the completion of the transaction, the chief financial officer now owns 158,614 shares in the company, valued at $4,484,017.78. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Aaron Edward Frederick Rankin sold 1,181 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $29.23, for a total transaction of $34,520.63. Following the completion of the transaction, the director now directly owns 42,122 shares in the company, valued at $1,231,226.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 62,882 shares of company stock valued at $1,801,351 in the last 90 days. 10.97% of the stock is currently owned by 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.