Brokers Issue Forecasts for Sprout Social FY2024 Earnings

Sprout Social, Inc. (NASDAQ:SPT) – Investment analysts at Scotiabank issued their FY2024 earnings per share estimates for shares of Sprout Social in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst A. Verkhovski forecasts that the company will post earnings of ($0.98) per share for the year. Scotiabank currently has a “Sector Perform” rating and a $28.00 target price 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.

Several other equities analysts also recently weighed in on SPT. Needham & Company LLC reissued a “buy” rating and set a $55.00 price target on shares of Sprout Social in a research report on Friday, November 8th. Piper Sandler decreased their price objective on Sprout Social from $40.00 to $29.00 and set a “neutral” rating on the stock in a research note on Monday, November 11th. Barclays cut their target price on shares of Sprout Social from $48.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Finally, Oppenheimer decreased their price target on shares of Sprout Social from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $45.46.

Sprout Social Trading Down 3.7 %

Shares of SPT opened at $30.50 on Monday. Sprout Social has a 1-year low of $25.05 and a 1-year high of $68.41. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a 50 day simple moving average of $31.35 and a 200-day simple moving average of $31.41. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of -25.42 and a beta of 1.03.

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

Institutional Trading of Sprout Social

Several large investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers lifted its stake in shares of Sprout Social by 2.8% during the second quarter. Rhumbline Advisers now owns 71,399 shares of the company’s stock worth $2,548,000 after purchasing an additional 1,911 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Sprout Social by 3.9% during the 2nd quarter. Arizona State Retirement System now owns 13,934 shares of the company’s stock valued at $497,000 after buying an additional 529 shares during the period. Renaissance Technologies LLC acquired a new position in Sprout Social during the 2nd quarter worth approximately $1,959,000. Edgestream Partners L.P. purchased a new position in Sprout Social in the 2nd quarter worth approximately $969,000. Finally, Hsbc Holdings PLC grew its position in Sprout Social by 134.5% in the second quarter. Hsbc Holdings PLC now owns 13,589 shares of the company’s stock valued at $472,000 after acquiring an additional 7,793 shares in the last quarter.

Insiders Place Their Bets

In related news, CEO Ryan Paul Barretto sold 16,800 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $30.99, for a total transaction of $520,632.00. Following the completion of the sale, the chief executive officer now owns 153,375 shares of the company’s stock, valued at approximately $4,753,091.25. This represents a 9.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Karen Walker sold 5,000 shares of Sprout Social stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $34.24, for a total transaction of $171,200.00. Following the transaction, the director now directly owns 35,665 shares in the company, valued at approximately $1,221,169.60. This trade represents a 12.30 % decrease in their ownership of the stock. 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 quarter. Company 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.