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

Sprout Social (NASDAQ:SPT) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 0.450-0.460 for the period, compared to the consensus earnings per share estimate of 0.470. The company issued revenue guidance of $405.0 million-$406.0 million, compared to the consensus revenue estimate of $405.5 million. Sprout Social also updated its FY24 guidance to $0.45 to $0.46 EPS.

Sprout Social Trading Down 11.6 %

Sprout Social stock traded down $4.33 during trading on Friday, reaching $32.93. The company had a trading volume of 1,049,495 shares, compared to its average volume of 613,503. Sprout Social has a 12-month low of $25.68 and a 12-month high of $68.41. The stock’s 50 day moving average price is $35.08 and its two-hundred day moving average price is $47.31. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of -26.34 and a beta of 1.00. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.97 and a current ratio of 0.97.

Sprout Social (NASDAQ:SPT) last released its earnings results on Thursday, May 2nd. The company reported ($0.22) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $96.78 million during the quarter, compared to the consensus estimate of $97.29 million. As a group, equities analysts expect that Sprout Social will post -0.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on SPT shares. Needham & Company LLC restated a buy rating and issued a $55.00 target price on shares of Sprout Social in a report on Friday. Morgan Stanley reduced their price target 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. William Blair reaffirmed a market perform rating on shares of Sprout Social in a research report on Friday, May 3rd. KeyCorp cut shares of Sprout Social from an overweight rating to a sector weight rating in a research report on Friday, May 3rd. Finally, Robert W. Baird lifted their price target on shares of Sprout Social from $38.00 to $40.00 and gave the company a neutral rating in a research report on Friday. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Sprout Social has a consensus rating of Moderate Buy and an average price target of $56.57.

Insider Buying and Selling at Sprout Social

In other Sprout Social news, President Ryan Paul Barretto sold 15,586 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $32.14, for a total transaction of $500,934.04. Following the transaction, the president now directly owns 484,115 shares in the company, valued at approximately $15,559,456.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Sprout Social news, CFO Preto Joseph Del sold 1,500 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $36.66, for a total transaction of $54,990.00. Following the sale, the chief financial officer now directly owns 165,624 shares of the company’s stock, valued at $6,071,775.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Ryan Paul Barretto sold 15,586 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $32.14, for a total transaction of $500,934.04. Following the sale, the president now directly owns 484,115 shares in the company, valued at $15,559,456.10. The disclosure for this sale can be found here. Insiders have sold 92,470 shares of company stock worth $3,063,248 in the last ninety days. 10.97% of the stock is owned by insiders.

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.