Scotiabank Predicts Sprout Social FY2024 Earnings

Sprout Social, Inc. (NASDAQ:SPT - Free Report) - Analysts at Scotiabank issued their FY2024 earnings per share (EPS) estimates for Sprout Social in a report issued on Wednesday, January 8th. Scotiabank analyst A. Verkhovski expects that the company will post earnings per share of ($0.98) for the year. Scotiabank has a "Sector Perform" rating and a $28.00 price objective 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.

Sprout Social (NASDAQ:SPT - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate 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.

A number of other research firms have also issued reports on SPT. Piper Sandler lowered their price target on Sprout Social from $40.00 to $29.00 and set a "neutral" rating on the stock in a report on Monday, November 11th. Oppenheimer lowered their target price on Sprout Social from $40.00 to $38.00 and set an "outperform" rating on the stock in a research note on Tuesday, December 3rd. Barclays cut their price target on Sprout Social from $48.00 to $38.00 and set an "overweight" rating for the company in a research note on Friday, October 11th. Morgan Stanley lifted their price objective 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. Finally, Needham & Company LLC restated a "buy" rating and set a $55.00 price objective on shares of Sprout Social in a research report on Friday, November 8th. One equities 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 stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $44.54.

Sprout Social Stock Performance

SPT traded down $0.12 on Monday, reaching $30.38. The company had a trading volume of 436,193 shares, compared to its average volume of 458,742. The stock has a 50-day moving average price of $31.35 and a 200-day moving average price of $31.41. The stock has a market capitalization of $1.74 billion, a PE ratio of -25.32 and a beta of 1.03. Sprout Social has a 1 year low of $25.05 and a 1 year 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.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Rhumbline Advisers lifted its position in Sprout Social by 2.8% during the 2nd quarter. Rhumbline Advisers now owns 71,399 shares of the company's stock worth $2,548,000 after acquiring an additional 1,911 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Sprout Social by 3.9% during the second quarter. Arizona State Retirement System now owns 13,934 shares of the company's stock valued at $497,000 after purchasing an additional 529 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Sprout Social during the second quarter worth $1,959,000. Edgestream Partners L.P. purchased a new position in shares of Sprout Social in the second quarter valued at $969,000. Finally, Hsbc Holdings PLC grew its holdings in Sprout Social by 134.5% during the 2nd quarter. Hsbc Holdings PLC now owns 13,589 shares of the company's stock valued at $472,000 after purchasing an additional 7,793 shares in the last quarter.

Insider Transactions at Sprout Social

In related news, CEO Ryan Paul Barretto sold 16,800 shares of Sprout Social stock in a transaction on Monday, December 30th. The stock was sold at an average price of $30.99, for a total value of $520,632.00. Following the transaction, the chief executive officer now owns 153,375 shares in the company, valued at approximately $4,753,091.25. This trade represents a 9.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Karen Walker sold 5,000 shares of the company's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $34.24, for a total value of $171,200.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,265 shares of company stock worth $1,115,306 over the last quarter. 10.97% of the stock is currently owned by insiders.

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.