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

Sprout Social (NASDAQ:SPT) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 0.450-0.460 for the period, compared to the consensus estimate of 0.230. The company issued revenue guidance of $405.0 million-$406.0 million, compared to the consensus revenue estimate of $425.6 million. Sprout Social also updated its Q2 2024 guidance to 0.070-0.080 EPS.

Analyst Ratings Changes

A number of research firms have commented on SPT. Piper Sandler downgraded shares of Sprout Social from an overweight rating to a neutral rating and dropped their price target for the stock from $66.00 to $40.00 in a research report on Friday. Oppenheimer dropped their price objective on Sprout Social from $76.00 to $43.00 and set an outperform rating for the company in a research note on Friday. Cantor Fitzgerald dropped their price objective on shares of Sprout Social from $74.00 to $46.00 and set an overweight rating on the stock in a report on Friday. Robert W. Baird downgraded shares of Sprout Social from an outperform rating to a neutral rating and decreased their price objective for the company from $72.00 to $45.00 in a report on Friday. Finally, Morgan Stanley lowered their price objective on shares of Sprout Social from $65.00 to $49.00 and set an equal weight rating on the stock in a report on Friday. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $57.07.

Sprout Social Trading Down 0.6 %

Sprout Social stock traded down $0.18 during trading on Monday, hitting $28.64. The company’s stock had a trading volume of 750,632 shares, compared to its average volume of 751,723. Sprout Social has a 1-year low of $27.85 and a 1-year high of $68.41. The stock’s fifty day moving average is $55.98 and its 200 day moving average is $56.80. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of -23.06 and a beta of 1.09.

Sprout Social (NASDAQ:SPT) last released its quarterly earnings data on Tuesday, February 20th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.02). Sprout Social had a negative return on equity of 42.60% and a negative net margin of 19.64%. The company had revenue of $93.58 million for the quarter, compared to the consensus estimate of $90.76 million. As a group, equities research analysts predict that Sprout Social will post -1.17 EPS for the current year.

Insider Activity

In other news, CFO Preto Joseph Del sold 1,500 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $59.63, for a total value of $89,445.00. Following the completion of the transaction, the chief financial officer now owns 172,644 shares of the company’s stock, valued at approximately $10,294,761.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, President Ryan Paul Barretto sold 5,600 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $56.95, for a total value of $318,920.00. Following the sale, the president now owns 198,175 shares of the company’s stock, valued at $11,286,066.25. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Preto Joseph Del sold 1,500 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $59.63, for a total transaction of $89,445.00. Following the transaction, the chief financial officer now owns 172,644 shares in the company, valued at approximately $10,294,761.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 89,100 shares of company stock worth $5,126,065. 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.