Sprout Social (NASDAQ:SPT) Releases 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.

Sprout Social Stock Down 13.8 %

Shares of Sprout Social stock traded down $4.29 on Friday, hitting $26.71. The stock had a trading volume of 1,504,473 shares, compared to its average volume of 401,026. The stock has a 50 day moving average of $28.13 and a 200 day moving average of $32.39. Sprout Social has a twelve month low of $25.05 and a twelve month high of $68.41. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.98 and a current ratio of 0.98.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.06). The company had revenue of $102.64 million for the quarter, compared to analyst estimates of $102.04 million. Sprout Social had a negative return on equity of 41.65% and a negative net margin of 17.24%. As a group, equities research analysts forecast that Sprout Social will post -0.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on SPT shares. Oppenheimer decreased their target price 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 reiterated an “overweight” rating and set a $46.00 price target on shares of Sprout Social in a research report on Friday, August 2nd. Needham & Company LLC restated a “buy” rating and issued a $55.00 target price on shares of Sprout Social in a research report on Friday. 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. Finally, Barclays reduced their price target on Sprout Social from $48.00 to $38.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $48.00.

Insider Activity at Sprout Social

In other Sprout Social news, CFO Preto Joseph Del sold 1,500 shares of Sprout Social stock in a transaction dated 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 directly owns 162,624 shares of the company’s stock, valued at $4,847,821.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Sprout Social news, insider Justyn Russell Howard sold 20,000 shares of Sprout Social stock in a transaction that occurred 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 sale, the insider now owns 7,417 shares of the company’s stock, valued at approximately $209,381.91. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Preto Joseph Del sold 1,500 shares of Sprout Social stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $29.81, for a total value of $44,715.00. Following the completion of the sale, the chief financial officer now directly 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 three months, insiders sold 62,882 shares of company stock worth $1,801,351. Company 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.