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

Sprout Social (NASDAQ:SPT) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 0.460-0.470 for the period, compared to the consensus EPS estimate of 0.460. The company issued revenue guidance of $405.1 million-$405.9 million, compared to the consensus revenue estimate of $405.5 million. Sprout Social also updated its Q4 guidance to $0.15 to $0.16 EPS.

Analysts Set New Price Targets

Several equities analysts recently commented on SPT shares. Barclays cut their target price on shares of Sprout Social from $48.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Needham & Company LLC reissued a “buy” rating and issued a $55.00 price target on shares of Sprout Social in a report on Friday, August 2nd. Robert W. Baird upped their price objective on shares of Sprout Social from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Oppenheimer lowered their target price on shares of Sprout Social from $43.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $46.00 target price on shares of Sprout Social in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Sprout Social presently has a consensus rating of “Hold” and a consensus target price of $48.00.

Sprout Social Stock Up 5.8 %

NASDAQ SPT traded up $1.69 on Thursday, reaching $31.00. The company had a trading volume of 1,003,197 shares, compared to its average volume of 746,282. The firm has a 50-day moving average of $28.23 and a 200-day moving average of $32.71. The firm has a market capitalization of $1.77 billion, a PE ratio of -23.17 and a beta of 0.99. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.98 and a quick ratio of 0.98. Sprout Social has a 1 year low of $25.05 and a 1 year high of $68.41.

Insider Buying and Selling

In other news, Director Aaron Edward Frederick Rankin sold 1,181 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $29.23, for a total value of $34,520.63. Following the transaction, the director now directly owns 42,122 shares in the company, valued at $1,231,226.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Sprout Social news, CFO Preto Joseph Del sold 1,500 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $29.81, for a total transaction of $44,715.00. Following the sale, the chief financial officer now directly owns 162,624 shares in the company, valued at approximately $4,847,821.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Aaron Edward Frederick Rankin sold 1,181 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $29.23, for a total transaction of $34,520.63. Following the completion of the sale, the director now directly owns 42,122 shares in the company, valued at $1,231,226.06. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 62,882 shares of company stock worth $1,801,351 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.