Sprout Social (NASDAQ:SPT) Releases FY24 Earnings Guidance

Sprout Social (NASDAQ:SPT - Get Free Report) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $0.45-$0.46 for the period, compared to the consensus earnings per share estimate of $0.23. The company issued revenue guidance of $405-$406 million, compared to the consensus revenue estimate of $425.52 million. Sprout Social also updated its Q2 guidance to $0.07-$0.08 EPS.

Analyst Ratings Changes

Several research analysts have weighed in on the company. KeyCorp assumed coverage on Sprout Social in a report on Thursday, March 21st. They set an overweight rating and a $83.00 target price on the stock. Stifel Nicolaus upped their target price on Sprout Social from $60.00 to $70.00 and gave the stock a buy rating in a report on Friday, January 19th. Needham & Company LLC reiterated a buy rating and set a $75.00 target price on shares of Sprout Social in a report on Monday, April 22nd. Canaccord Genuity Group restated a buy rating and issued a $70.00 price objective on shares of Sprout Social in a research note on Wednesday, February 21st. Finally, Jefferies Financial Group initiated coverage on Sprout Social in a research report on Wednesday, February 7th. They issued a buy rating and a $76.00 target price on the stock. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $72.57.

Sprout Social Trading Down 3.5 %

Sprout Social stock traded down $1.76 during trading hours on Thursday, reaching $48.15. 1,390,548 shares of the company's stock were exchanged, compared to its average volume of 603,698. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.38. The firm's 50 day simple moving average is $57.01 and its 200 day simple moving average is $56.92. Sprout Social has a twelve month low of $37.00 and a twelve month high of $68.41. The firm has a market capitalization of $2.71 billion, a PE ratio of -40.27 and a beta of 1.09.

Sprout Social (NASDAQ:SPT - Get Free Report) last issued its earnings results on Tuesday, February 20th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.02). The firm had revenue of $93.58 million during the quarter, compared to analyst estimates of $90.76 million. Sprout Social had a negative net margin of 19.91% and a negative return on equity of 41.25%. Research analysts predict that Sprout Social will post -1.17 earnings per share for the current year.

Insider Buying and Selling at Sprout Social

In other Sprout Social news, CEO Justyn Russell Howard sold 20,000 shares of Sprout Social stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $56.52, for a total transaction of $1,130,400.00. Following the completion of the transaction, the chief executive officer now owns 406,636 shares in the company, valued at approximately $22,983,066.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Sprout Social news, CEO Justyn Russell Howard sold 20,000 shares of Sprout Social stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $56.52, for a total transaction of $1,130,400.00. Following the transaction, the chief executive officer now owns 406,636 shares of the company's stock, valued at approximately $22,983,066.72. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, President Ryan Paul Barretto sold 5,600 shares of Sprout Social stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $56.95, for a total transaction of $318,920.00. Following the transaction, the president now directly owns 198,175 shares in the company, valued at approximately $11,286,066.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 140,200 shares of company stock worth $8,171,958. 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.