Scotiabank Comments on Sprout Social FY2024 Earnings

Sprout Social, Inc. (NASDAQ:SPT) – Analysts at Scotiabank issued their FY2024 EPS estimates for Sprout Social in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst A. Verkhovski forecasts 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) last posted 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 the consensus estimate of $102.04 million.

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

Sprout Social Stock Up 1.1 %

Shares of Sprout Social stock opened at $30.72 on Monday. The firm has a market cap of $1.76 billion, a PE ratio of -25.60 and a beta of 1.03. The business’s 50 day simple moving average is $31.47 and its 200 day simple moving average is $31.35. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96. Sprout Social has a 52-week low of $25.05 and a 52-week high of $68.41.

Insider Buying and Selling at Sprout Social

In related news, CEO Ryan Paul Barretto sold 13,465 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $31.45, for a total value of $423,474.25. Following the sale, the chief executive officer now directly owns 546,343 shares in the company, valued at $17,182,487.35. This represents a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Karen Walker sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was 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 in the company, valued at $1,221,169.60. This trade represents a 12.30 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,265 shares of company stock worth $1,266,606. 10.97% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sprout Social

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