Zacks: Brokerages Expect Sprout Social (NYSE:SPT) Will Post Quarterly Sales of $31.15 Million

Equities analysts expect Sprout Social (NYSE:SPT) to post $31.15 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Sprout Social’s earnings, with the lowest sales estimate coming in at $31.10 million and the highest estimate coming in at $31.20 million. The firm is scheduled to announce its next earnings report after the market closes on Wednesday, August 5th.

On average, analysts expect that Sprout Social will report full year sales of $127.74 million for the current year, with estimates ranging from $125.50 million to $128.60 million. For the next fiscal year, analysts forecast that the firm will report sales of $163.55 million, with estimates ranging from $158.00 million to $167.85 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that follow Sprout Social.

Sprout Social (NYSE:SPT) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.21) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.21). The company had revenue of $30.54 million for the quarter, compared to analyst estimates of $29.21 million.

Several equities analysts have weighed in on SPT shares. KeyCorp lifted their price objective on shares of Sprout Social from $27.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, June 4th. Canaccord Genuity reiterated a “buy” rating and set a $24.00 price objective on shares of Sprout Social in a research report on Thursday, May 7th. Goldman Sachs Group lifted their target price on shares of Sprout Social from $27.00 to $35.00 in a research note on Monday, June 29th. Zacks Investment Research lowered shares of Sprout Social from a “hold” rating to a “sell” rating in a research note on Tuesday, June 30th. Finally, Robert W. Baird started coverage on shares of Sprout Social in a research note on Monday, June 1st. They set an “outperform” rating and a $33.00 target price for the company. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $29.00.

In related news, CEO Justyn Russell Howard sold 100,000 shares of Sprout Social stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $27.92, for a total value of $2,792,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Aaron Edward Frederick Rankin sold 37,000 shares of Sprout Social stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $28.36, for a total transaction of $1,049,320.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 200,393 shares of company stock valued at $5,556,235.

A number of institutional investors have recently added to or reduced their stakes in the business. State Street Corp acquired a new position in Sprout Social during the 1st quarter worth $2,194,000. Clearbridge Investments LLC lifted its position in Sprout Social by 55.7% during the 1st quarter. Clearbridge Investments LLC now owns 850,836 shares of the company’s stock worth $13,579,000 after acquiring an additional 304,370 shares during the last quarter. Kingstown Capital Management L.P. acquired a new position in Sprout Social during the 1st quarter worth $5,586,000. Morgan Stanley lifted its position in Sprout Social by 2,774.5% during the 1st quarter. Morgan Stanley now owns 82,038 shares of the company’s stock worth $1,310,000 after acquiring an additional 79,184 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of Sprout Social by 50.6% during the 1st quarter. Wells Fargo & Company MN now owns 400,097 shares of the company’s stock worth $6,386,000 after purchasing an additional 134,497 shares during the period.

NYSE SPT traded down $1.78 on Friday, hitting $27.40. 620,000 shares of the stock were exchanged, compared to its average volume of 418,888. Sprout Social has a 52-week low of $10.54 and a 52-week high of $33.52. The business’s 50-day moving average price is $27.80.

About Sprout Social

Sprout Social, Inc designs and develops a platform for social media management. The company offers cloud software that brings together social messaging, data, and workflows in a unified system of record, intelligence, and action. It provides various integrated tools in a range of functions comprising social engagement/response, publishing, reporting and analytics, social listening and business intelligence, reputation management, employee advocacy, and automation and workflows.

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Earnings History and Estimates for Sprout Social (NYSE:SPT)

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