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.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Cantor Fitzgerald restated an “overweight” rating and set a $46.00 target price on shares of Sprout Social in a report on Friday, August 2nd. 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 research report on Thursday, August 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Sprout Social in a research report on Friday, August 2nd. Oppenheimer reduced their price objective on shares of Sprout Social from $43.00 to $40.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Finally, Barclays cut their price objective on shares of Sprout Social from $48.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, October 11th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $48.00.

Sprout Social Trading Up 5.8 %

SPT traded up $1.69 during trading hours on Thursday, reaching $31.00. The company’s stock had a trading volume of 1,003,197 shares, compared to its average volume of 746,282. Sprout Social has a fifty-two week low of $25.05 and a fifty-two week high of $68.41. The business’s 50-day moving average is $28.23 and its 200-day moving average is $32.71. 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 market cap of $1.77 billion, a PE ratio of -23.17 and a beta of 0.99.

Insider Transactions at Sprout Social

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

About Sprout Social

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.