Sprout Social (NASDAQ:SPT) Releases Q3 Earnings Guidance

Sprout Social (NASDAQ:SPT) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.12 to $0.13 for the period, compared to the consensus estimate of $0.12. The company issued revenue guidance of $101.9 million to $102.1 million, compared to the consensus revenue estimate of $101.89 million. Sprout Social also updated its FY 2024 guidance to 0.450-0.460 EPS.

Sprout Social Stock Performance

Shares of SPT traded down $4.33 during trading hours on Friday, hitting $32.93. The company had a trading volume of 1,049,495 shares, compared to its average volume of 613,503. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of -26.34 and a beta of 1.00. The business has a fifty day moving average of $35.08 and a 200-day moving average of $47.31. Sprout Social has a 12 month low of $25.68 and a 12 month high of $68.41. 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 (NASDAQ:SPT) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.10. Sprout Social had a negative net margin of 19.60% and a negative return on equity of 44.88%. The business had revenue of $96.78 million for the quarter, compared to analyst estimates of $97.29 million. Equities analysts anticipate that Sprout Social will post -0.84 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SPT shares. Robert W. Baird increased their price objective on shares of Sprout Social from $38.00 to $40.00 and gave the stock a neutral rating in a research note on Friday. KeyCorp downgraded shares of Sprout Social from an overweight rating to a sector weight rating in a research note on Friday, May 3rd. Canaccord Genuity Group reduced their price target on shares of Sprout Social from $70.00 to $50.00 and set a buy rating on the stock in a research note on Friday, May 3rd. Morgan Stanley cut their target price on shares of Sprout Social from $65.00 to $49.00 and set an equal weight rating on the stock in a research report on Friday, May 3rd. Finally, Cantor Fitzgerald reiterated an overweight rating and set a $46.00 target price on shares of Sprout Social in a research report on Friday. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Sprout Social currently has a consensus rating of Moderate Buy and an average price target of $56.57.

Insider Activity at Sprout Social

In other news, Director Aaron Edward Frederick Rankin sold 1,184 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $32.14, for a total value of $38,053.76. Following the sale, the director now directly owns 43,303 shares of the company’s stock, valued at $1,391,758.42. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Aaron Edward Frederick Rankin sold 1,184 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $32.14, for a total value of $38,053.76. Following the sale, the director now directly owns 43,303 shares of the company’s stock, valued at $1,391,758.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Ryan Paul Barretto sold 11,200 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $36.10, for a total transaction of $404,320.00. Following the completion of the sale, the president now directly owns 186,975 shares in the company, valued at $6,749,797.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 92,470 shares of company stock worth $3,063,248. 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.