Sprout Social (NASDAQ:SPT) Updates Q2 Earnings Guidance

Sprout Social (NASDAQ:SPT) updated its second quarter earnings guidance on Thursday. The company provided EPS guidance of $0.07-$0.08 for the period, compared to the consensus EPS estimate of $0.04. The company issued revenue guidance of $98.5-$98.6 million, compared to the consensus revenue estimate of $101.60 million. Sprout Social also updated its FY24 guidance to $0.45-$0.46 EPS.

Sprout Social Price Performance

NASDAQ:SPT traded down $19.33 during mid-day trading on Friday, reaching $28.82. 13,470,229 shares of the stock were exchanged, compared to its average volume of 679,800. Sprout Social has a 1-year low of $27.85 and a 1-year high of $68.41. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $1.62 billion, a PE ratio of -23.06 and a beta of 1.09. The business has a fifty day moving average price of $55.98 and a 200 day moving average price of $56.80.

Sprout Social (NASDAQ:SPT) last released its earnings results on Tuesday, February 20th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). The business had revenue of $93.58 million during the quarter, compared to the consensus estimate of $90.76 million. Sprout Social had a negative return on equity of 42.60% and a negative net margin of 19.64%. Research analysts expect that Sprout Social will post -1.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on SPT shares. BTIG Research lowered shares of Sprout Social from a buy rating to a neutral rating in a research note on Friday. Jefferies Financial Group started coverage on shares of Sprout Social in a research note on Wednesday, February 7th. They issued a buy rating and a $76.00 price objective for the company. 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 note on Friday. Needham & Company LLC reduced their target price on Sprout Social from $75.00 to $55.00 and set a buy rating for the company in a report on Friday. Finally, William Blair reiterated a market perform rating on shares of Sprout Social in a report on Friday. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $57.07.

Insider Activity at Sprout Social

In other news, Director Aaron Edward Frederick Rankin sold 44,000 shares of the stock in a transaction on Monday, February 5th. The shares were sold at an average price of $59.60, for a total transaction of $2,622,400.00. Following the transaction, the director now owns 40,888 shares in the company, valued at approximately $2,436,924.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Sprout Social news, Director Aaron Edward Frederick Rankin sold 44,000 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $59.60, for a total value of $2,622,400.00. Following the completion of the sale, the director now owns 40,888 shares of the company’s stock, valued at $2,436,924.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Preto Joseph Del sold 1,500 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $59.71, for a total value of $89,565.00. Following the transaction, the chief financial officer now directly owns 127,322 shares in the company, valued at approximately $7,602,396.62. The disclosure for this sale can be found here. In the last quarter, insiders sold 140,200 shares of company stock valued at $8,171,958. 10.97% of the stock is owned by corporate 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.