Analysts Offer Predictions for Sprout Social FY2024 Earnings

Sprout Social, Inc. (NASDAQ:SPT) – Stock analysts at Scotiabank issued their FY2024 earnings per share estimates for shares of Sprout Social in a research note issued on Wednesday, January 8th. Scotiabank analyst A. Verkhovski forecasts that the company will earn ($0.98) per share for the year. Scotiabank has a “Sector Perform” rating and a $28.00 price target on the stock. The consensus estimate for Sprout Social’s current full-year earnings is ($0.98) per share. Scotiabank also issued estimates for Sprout Social’s FY2025 earnings at ($1.02) EPS.

A number of other equities research analysts also recently commented on SPT. Piper Sandler cut their target price on shares of Sprout Social from $40.00 to $29.00 and set a “neutral” rating for the company in a research report on Monday, November 11th. Barclays reduced their price objective on Sprout Social from $48.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Needham & Company LLC reissued a “buy” rating and issued a $55.00 target price on shares of Sprout Social in a research report on Friday, November 8th. Oppenheimer reduced their price target on shares of Sprout Social from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Tuesday, December 3rd. Finally, Morgan Stanley boosted their target price on shares of Sprout Social from $36.00 to $37.00 and gave the company an “equal weight” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $44.54.

Sprout Social Stock Performance

Shares of SPT stock opened at $30.38 on Monday. The firm has a market capitalization of $1.74 billion, a PE ratio of -25.32 and a beta of 1.03. The company has a 50 day moving average price of $31.41 and a 200-day moving average price of $31.38. Sprout Social has a 52 week low of $25.05 and a 52 week high of $68.41. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19.

Sprout Social (NASDAQ:SPT) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.06). The business had revenue of $102.64 million for the quarter, compared to analysts’ expectations of $102.04 million. Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%.

Insider Buying and Selling at Sprout Social

In other Sprout Social news, Director Karen Walker sold 5,000 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $34.24, for a total transaction of $171,200.00. Following the completion of the transaction, the director now owns 35,665 shares of the company’s stock, valued at $1,221,169.60. This represents a 12.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Paul Barretto sold 13,465 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $31.45, for a total value of $423,474.25. Following the transaction, the chief executive officer now owns 546,343 shares of the company’s stock, valued at approximately $17,182,487.35. The trade was a 2.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,265 shares of company stock valued at $1,115,306 over the last ninety days. 10.97% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sprout Social

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Diversified Trust Co raised its holdings in shares of Sprout Social by 8.1% during the 4th quarter. Diversified Trust Co now owns 17,044 shares of the company’s stock worth $523,000 after acquiring an additional 1,274 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Sprout Social by 324.0% during the third quarter. JPMorgan Chase & Co. now owns 402,947 shares of the company’s stock valued at $11,714,000 after purchasing an additional 307,906 shares in the last quarter. Principal Financial Group Inc. raised its stake in Sprout Social by 20.0% during the third quarter. Principal Financial Group Inc. now owns 1,199,451 shares of the company’s stock valued at $34,868,000 after purchasing an additional 200,190 shares in the last quarter. Franklin Resources Inc. lifted its position in Sprout Social by 5.4% during the third quarter. Franklin Resources Inc. now owns 20,256 shares of the company’s stock valued at $576,000 after purchasing an additional 1,034 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its stake in shares of Sprout Social by 3.5% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 98,204 shares of the company’s stock worth $2,855,000 after buying an additional 3,344 shares in the last quarter.

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.