Q1 2023 EPS Estimates for Sprout Social, Inc. (NASDAQ:SPT) Decreased by KeyCorp

Sprout Social, Inc. (NASDAQ:SPTGet Rating) – Stock analysts at KeyCorp decreased their Q1 2023 EPS estimates for shares of Sprout Social in a report released on Tuesday, August 2nd. KeyCorp analyst M. Turits now anticipates that the company will earn ($0.19) per share for the quarter, down from their prior forecast of ($0.18). The consensus estimate for Sprout Social’s current full-year earnings is ($0.74) per share. KeyCorp also issued estimates for Sprout Social’s FY2023 earnings at ($0.91) EPS.

SPT has been the subject of several other research reports. Robert W. Baird reduced their target price on shares of Sprout Social from $110.00 to $76.00 in a research note on Wednesday. Barclays reduced their target price on shares of Sprout Social from $79.00 to $66.00 in a research note on Wednesday. Canaccord Genuity Group reduced their target price on shares of Sprout Social from $75.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday. Morgan Stanley reduced their target price on shares of Sprout Social from $70.00 to $66.00 and set an “equal weight” rating for the company in a research note on Thursday, July 14th. Finally, Cantor Fitzgerald reduced their price objective on shares of Sprout Social from $99.00 to $80.00 in a research note on Wednesday, May 4th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $96.00.

Sprout Social Stock Performance

SPT stock opened at $58.27 on Thursday. Sprout Social has a one year low of $38.39 and a one year high of $145.42. The stock has a market capitalization of $3.17 billion, a PE ratio of -76.80 and a beta of 1.10. The company has a fifty day moving average of $55.74 and a 200-day moving average of $61.39.

Sprout Social (NASDAQ:SPTGet Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.01). Sprout Social had a negative return on equity of 28.39% and a negative net margin of 18.65%. The business had revenue of $57.43 million for the quarter, compared to analyst estimates of $56.25 million. During the same quarter in the prior year, the company earned ($0.12) EPS. The firm’s revenue for the quarter was up 40.7% on a year-over-year basis.

Insider Transactions at Sprout Social

In other news, CTO Aaron Edward Frederick Rankin sold 769 shares of Sprout Social stock in a transaction dated Thursday, June 2nd. The shares were sold at an average price of $58.31, for a total transaction of $44,840.39. Following the completion of the sale, the chief technology officer now directly owns 41,634 shares in the company, valued at $2,427,678.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CTO Aaron Edward Frederick Rankin sold 769 shares of Sprout Social stock in a transaction dated Thursday, June 2nd. The shares were sold at an average price of $58.31, for a total transaction of $44,840.39. Following the completion of the sale, the chief technology officer now directly owns 41,634 shares in the company, valued at $2,427,678.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Justyn Russell Howard sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, July 7th. The shares were sold at an average price of $64.42, for a total transaction of $1,288,400.00. Following the completion of the sale, the chief executive officer now owns 250,642 shares of the company’s stock, valued at $16,146,357.64. The disclosure for this sale can be found here. Insiders sold a total of 76,848 shares of company stock worth $4,351,506 over the last ninety days. 13.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sprout Social

Institutional investors have recently bought and sold shares of the stock. Jennison Associates LLC lifted its position in Sprout Social by 95.3% during the second quarter. Jennison Associates LLC now owns 1,063,868 shares of the company’s stock valued at $61,779,000 after buying an additional 519,059 shares in the last quarter. Victory Capital Management Inc. lifted its position in Sprout Social by 4,899.1% during the first quarter. Victory Capital Management Inc. now owns 355,787 shares of the company’s stock valued at $28,431,000 after buying an additional 348,670 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Sprout Social by 352.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 327,281 shares of the company’s stock valued at $29,681,000 after buying an additional 254,921 shares in the last quarter. Renaissance Technologies LLC lifted its position in Sprout Social by 97.1% during the first quarter. Renaissance Technologies LLC now owns 363,400 shares of the company’s stock valued at $29,116,000 after buying an additional 179,000 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its position in Sprout Social by 1,888.7% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 175,185 shares of the company’s stock valued at $15,888,000 after buying an additional 166,376 shares in the last quarter. 83.30% of the stock is currently owned by hedge funds and other institutional investors.

Sprout Social Company Profile

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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. It provides cloud software that brings together social messaging, data, and workflows in a unified system of record, intelligence, and action.

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