Sprout Social (NASDAQ:SPT) Announces Quarterly Earnings Results


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Sprout Social (NASDAQ:SPT) announced its earnings results on Tuesday. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.05, MarketWatch Earnings reports. The company had revenue of $40.80 million for the quarter, compared to the consensus estimate of $39.73 million. The company’s revenue was up 33.8% compared to the same quarter last year.

Shares of NASDAQ SPT traded down $4.71 during trading on Tuesday, hitting $60.94. The company had a trading volume of 399,882 shares, compared to its average volume of 574,298. The stock has a 50 day simple moving average of $60.90 and a 200 day simple moving average of $57.59. Sprout Social has a 12 month low of $16.31 and a 12 month high of $82.47. The firm has a market capitalization of $3.25 billion and a P/E ratio of -37.85.

A number of equities research analysts have recently weighed in on the stock. BTIG Research boosted their price objective on shares of Sprout Social from $71.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, February 24th. KeyCorp boosted their price target on shares of Sprout Social from $55.00 to $81.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 24th. Needham & Company LLC raised their price objective on Sprout Social from $52.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, March 3rd. Barclays raised their price objective on Sprout Social from $68.00 to $84.00 and gave the company an “overweight” rating in a research note on Tuesday, March 2nd. Finally, Canaccord Genuity raised their price objective on Sprout Social from $50.00 to $77.00 and gave the company a “buy” rating in a research note on Tuesday, March 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. Sprout Social has a consensus rating of “Buy” and an average price target of $67.20.

In other news, CMO Jamie Cannon Gilpin sold 1,278 shares of the firm’s stock in a transaction dated Wednesday, February 17th. The shares were sold at an average price of $77.97, for a total value of $99,645.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Aaron Edward Frederick Rankin sold 54,000 shares of the firm’s stock in a transaction dated Thursday, April 22nd. The shares were sold at an average price of $59.27, for a total transaction of $3,200,580.00. Insiders have sold 184,661 shares of company stock valued at $11,472,759 in the last quarter.

Sprout Social Company Profile

Sprout Social, Inc designs, develops, and operates a web-based social media management tool in Americas, EMEA, and the Asia Pacific. The company offers cloud software that brings together social messaging, data, and workflows in a unified system of record, intelligence, and action. It provides various integrated tools in a range of functions comprising social engagement/response, publishing, reporting and analytics, social listening and business intelligence, reputation management, employee advocacy, and automation and workflows.

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Earnings History for Sprout Social (NASDAQ:SPT)

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