Sprout Social (NASDAQ:SPT) Issues Q4 Earnings Guidance

Sprout Social (NASDAQ:SPT) updated its fourth quarter earnings guidance on Thursday. The company provided EPS guidance of $0.15 to $0.16 for the period, compared to the consensus EPS estimate of $0.16. The company issued revenue guidance of $106.3 million to $107.1 million, compared to the consensus revenue estimate of $107.46 million.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. 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 report on Thursday, October 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 target price on shares of Sprout Social in a research report on Friday, August 2nd. Robert W. Baird increased their target price on shares of Sprout Social from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Barclays dropped their target price on shares of Sprout Social from $48.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. Finally, KeyCorp downgraded shares of Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 target price on the stock. in a research report on Thursday, August 22nd. One equities research 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $48.00.

Sprout Social Stock Performance

Shares of NASDAQ:SPT traded up $1.69 during midday trading on Thursday, hitting $31.00. The stock had a trading volume of 1,003,941 shares, compared to its average volume of 746,282. The company has a market capitalization of $1.77 billion, a PE ratio of -23.17 and a beta of 0.99. The stock has a 50 day moving average price of $28.23 and a two-hundred day moving average price of $32.71. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.26. Sprout Social has a 1 year low of $25.05 and a 1 year high of $68.41.

Insider Buying and Selling

In related news, insider Justyn Russell Howard sold 20,000 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $28.23, for a total transaction of $564,600.00. Following the sale, the insider now owns 7,417 shares of the company’s stock, valued at approximately $209,381.91. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Sprout Social news, CFO Preto Joseph Del sold 1,500 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $29.81, for a total value of $44,715.00. Following the sale, the chief financial officer now owns 162,624 shares of the company’s stock, valued at $4,847,821.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Justyn Russell Howard sold 20,000 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $28.23, for a total transaction of $564,600.00. Following the completion of the sale, the insider now directly owns 7,417 shares in the company, valued at $209,381.91. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 62,882 shares of company stock valued at $1,801,351. Corporate 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.