Sprout Social (NASDAQ:SPT) Updates Q4 Earnings Guidance

Sprout Social (NASDAQ:SPT) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided EPS guidance of $0.15 to $0.16 for the period, compared to the consensus EPS estimate of $0.16. The company issued revenue guidance of $106.3 million to $107.1 million, compared to the consensus revenue estimate of $107.46 million. Sprout Social also updated its FY 2024 guidance to 0.460-0.470 EPS.

Analyst Upgrades and Downgrades

SPT has been the subject of a number of recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $46.00 price target on shares of Sprout Social in a report on Friday, August 2nd. KeyCorp cut Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 target price on the stock. in a research note on Thursday, August 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 price target on shares of Sprout Social in a research report on Friday. Robert W. Baird lifted their price objective on Sprout Social from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Barclays decreased their target price on Sprout Social from $48.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $48.00.

Sprout Social Stock Performance

Shares of NASDAQ SPT traded down $4.29 on Friday, reaching $26.71. 1,504,473 shares of the company’s stock traded hands, compared to its average volume of 401,026. The business’s 50 day simple moving average is $28.13 and its two-hundred day simple moving average is $32.39. Sprout Social has a 12 month low of $25.05 and a 12 month high of $68.41. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.98 and a quick ratio of 0.98.

Sprout Social (NASDAQ:SPT) last released its earnings results on Thursday, November 7th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). The company had revenue of $102.64 million during the quarter, compared to analysts’ expectations of $102.04 million. Sprout Social had a negative return on equity of 41.65% and a negative net margin of 17.24%. Equities analysts predict that Sprout Social will post -0.9 EPS for the current year.

Insiders Place Their Bets

In other Sprout Social news, insider Justyn Russell Howard sold 20,000 shares of Sprout Social stock in a transaction on Monday, October 7th. The stock was sold at an average price of $28.23, for a total value of $564,600.00. Following the completion of the sale, the insider now owns 7,417 shares of the company’s stock, valued at approximately $209,381.91. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Justyn Russell Howard sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $28.23, for a total transaction of $564,600.00. Following the completion of the transaction, the insider now directly owns 7,417 shares of the company’s stock, valued at $209,381.91. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Preto Joseph Del sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $29.81, for a total transaction of $44,715.00. Following the completion of the sale, the chief financial officer now owns 162,624 shares in the company, valued at $4,847,821.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 62,882 shares of company stock valued at $1,801,351. 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.