Sprout Social (NASDAQ:SPT) Releases Q4 2024 Earnings Guidance

Sprout Social (NASDAQ:SPT) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 0.150-0.160 for the period, compared to the consensus estimate of 0.160. The company issued revenue guidance of $106.3 million-$107.1 million, compared to the consensus revenue estimate of $107.4 million. Sprout Social also updated its FY 2024 guidance to 0.460-0.470 EPS.

Sprout Social Trading Down 13.8 %

NASDAQ:SPT traded down $4.29 on Friday, reaching $26.71. The company’s stock had a trading volume of 1,504,473 shares, compared to its average volume of 401,026. Sprout Social has a 12-month low of $25.05 and a 12-month high of $68.41. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a 50 day moving average price of $28.13 and a 200 day moving average price of $32.39.

Sprout Social (NASDAQ:SPT) last posted its earnings results on Thursday, November 7th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). Sprout Social had a negative net margin of 17.24% and a negative return on equity of 41.65%. The business had revenue of $102.64 million during the quarter, compared to analysts’ expectations of $102.04 million. Research analysts predict that Sprout Social will post -0.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on SPT. KeyCorp downgraded Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 price objective on the stock. in a report on Thursday, August 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $55.00 price objective on shares of Sprout Social in a report on Friday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $46.00 price objective on shares of Sprout Social in a report on Friday, August 2nd. Robert W. Baird boosted their price objective on Sprout Social from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, Oppenheimer cut their price objective on Sprout Social from $43.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $48.00.

Insider Transactions at Sprout Social

In other news, President Ryan Paul Barretto sold 13,306 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $29.23, for a total transaction of $388,934.38. Following the completion of the transaction, the president now directly owns 470,809 shares of the company’s stock, valued at approximately $13,761,747.07. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Aaron Edward Frederick Rankin sold 1,181 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $29.23, for a total value of $34,520.63. Following the completion of the sale, the director now directly owns 42,122 shares of the company’s stock, valued at $1,231,226.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Ryan Paul Barretto sold 13,306 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $29.23, for a total value of $388,934.38. Following the sale, the president now directly owns 470,809 shares of the company’s stock, valued at $13,761,747.07. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,882 shares of company stock valued at $1,801,351. 10.97% of the stock is currently 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.