Sprout Social (NASDAQ:SPT – Get Free Report) issued an update on its second quarter 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 0.070-0.080 for the period, compared to the consensus estimate of 0.040. The company issued revenue guidance of $98.5 million-$98.6 million, compared to the consensus revenue estimate of $101.6 million. Sprout Social also updated its FY 2024 guidance to 0.450-0.460 EPS.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on SPT shares. Piper Sandler downgraded shares of Sprout Social from an overweight rating to a neutral rating and cut their price target for the company from $66.00 to $40.00 in a report on Friday. Oppenheimer decreased their price target on Sprout Social from $76.00 to $43.00 and set an outperform rating for the company in a research note on Friday. The Goldman Sachs Group downgraded Sprout Social from a buy rating to a neutral rating and cut their price objective for the company from $80.00 to $44.00 in a research report on Friday. BTIG Research lowered shares of Sprout Social from a buy rating to a neutral rating in a research note on Friday. Finally, KeyCorp lowered shares of Sprout Social from an overweight rating to a sector weight rating in a report on Friday. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $57.07.
View Our Latest Stock Analysis on SPT
Sprout Social Trading Down 2.4 %
Sprout Social (NASDAQ:SPT – Get Free Report) last announced its earnings results on Tuesday, February 20th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.02). Sprout Social had a negative return on equity of 42.60% and a negative net margin of 19.64%. The business had revenue of $93.58 million for the quarter, compared to analysts’ expectations of $90.76 million. On average, equities analysts anticipate that Sprout Social will post -1.17 EPS for the current year.
Insider Activity at Sprout Social
In other news, President Ryan Paul Barretto sold 5,600 shares of Sprout Social stock in a transaction 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 completion of the transaction, the president now owns 198,175 shares of the company’s stock, valued at approximately $11,286,066.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Sprout Social news, President Ryan Paul Barretto sold 5,600 shares of Sprout Social stock in a transaction that occurred on Thursday, April 4th. The shares were 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 of the company’s stock, valued at $11,286,066.25. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Aaron Edward Frederick Rankin sold 22,000 shares of Sprout Social stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $56.95, for a total transaction of $1,252,900.00. Following the sale, the director now owns 44,487 shares in the company, valued at approximately $2,533,534.65. The disclosure for this sale can be found here. Insiders have sold a total of 89,100 shares of company stock worth $5,126,065 in the last three months. 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.
Featured Stories
- Five stocks we like better than Sprout Social
- Conference Calls and Individual Investors
- 3 CEO-Led Turnaround Stocks You Can Still Buy
- How to Calculate Inflation Rate
- 3 Value Stocks You Can Buy Before They Become Big
- Insider Buying Explained: What Investors Need to Know
- Chinese Stocks Stage Impressive Rebound
Receive News & Ratings for Sprout Social Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sprout Social and related companies with MarketBeat.com's FREE daily email newsletter.