Sprout Social (NASDAQ:SPT) Posts Earnings Results, Beats Expectations By $0.05 EPS

Sprout Social (NASDAQ:SPT) issued its quarterly earnings data on Tuesday. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.05, MarketWatch Earnings reports. The company had revenue of $40.80 million for the quarter, compared to the consensus estimate of $39.73 million. Sprout Social’s quarterly revenue was up 33.8% on a year-over-year basis.

Shares of NASDAQ SPT traded down $4.71 during trading on Tuesday, reaching $60.94. 399,882 shares of the stock traded hands, compared to its average volume of 574,298. The stock has a market capitalization of $3.25 billion and a P/E ratio of -37.85. Sprout Social has a 52-week low of $16.31 and a 52-week high of $82.47. The company has a 50-day moving average of $60.90 and a 200-day moving average of $57.59.

Several brokerages recently issued reports on SPT. Barclays upped their price target on Sprout Social from $68.00 to $84.00 and gave the stock an “overweight” rating in a report on Tuesday, March 2nd. Needham & Company LLC upped their target price on shares of Sprout Social from $52.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, March 3rd. Piper Sandler assumed coverage on shares of Sprout Social in a research report on Monday. They set an “overweight” rating and a $86.00 price target on the stock. BTIG Research boosted their price target on shares of Sprout Social from $71.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, February 24th. Finally, Morgan Stanley lifted their target price on shares of Sprout Social from $53.00 to $81.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $67.20.

In related news, CEO Justyn Russell Howard sold 20,000 shares of the business’s stock in a transaction on Monday, March 8th. The stock was sold at an average price of $53.98, for a total transaction of $1,079,600.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CMO Jamie Cannon Gilpin sold 1,278 shares of the stock in a transaction dated Wednesday, February 17th. The stock was sold at an average price of $77.97, for a total value of $99,645.66. The disclosure for this sale can be found here. In the last three months, insiders sold 184,661 shares of company stock valued at $11,472,759.

About Sprout Social

Sprout Social, Inc designs, develops, and operates a web-based social media management tool in Americas, EMEA, and the Asia Pacific. 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 for Sprout Social (NASDAQ:SPT)

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