Sprout Social (NASDAQ:SPT) Issues Quarterly Earnings Results

Sprout Social (NASDAQ:SPT) issued its quarterly earnings data on Tuesday. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.16, FiscalAI reports. The firm had revenue of $125.15 million for the quarter, compared to the consensus estimate of $123.83 million. Sprout Social had a negative net margin of 6.13% and a negative return on equity of 8.80%.

Sprout Social Trading Down 1.3%

Sprout Social stock traded down $0.16 during mid-day trading on Tuesday, hitting $11.93. 717,152 shares of the stock were exchanged, compared to its average volume of 1,382,483. The firm’s fifty day simple moving average is $11.06 and its two-hundred day simple moving average is $8.27. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.14. Sprout Social has a 12 month low of $4.92 and a 12 month high of $13.35. The stock has a market capitalization of $722.86 million, a price-to-earnings ratio of -23.86 and a beta of 1.01.

Insider Transactions at Sprout Social

In other Sprout Social news, insider Justyn Howard sold 40,000 shares of Sprout Social stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $11.02, for a total transaction of $440,800.00. Following the completion of the transaction, the insider owned 7,417 shares in the company, valued at approximately $81,735.34. The trade was a 84.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 51,612 shares of company stock valued at $573,757 in the last 90 days. 9.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SPT. Wall Street Zen upgraded shares of Sprout Social from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 15th. Barclays increased their price target on shares of Sprout Social from $9.00 to $12.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Zacks Research cut Sprout Social from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 12th. Weiss Ratings restated a “sell (e+)” rating on shares of Sprout Social in a report on Thursday, October 15th. Finally, Stifel Nicolaus increased their target price on shares of Sprout Social from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, October 14th. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $10.88.

Sprout Social Company Profile

Sprout Social, Inc is a software company that provides a cloud-based social media management platform for businesses and organizations. Its platform helps customers manage social media publishing, engagement, customer care, analytics, listening and employee advocacy from a centralized environment.

The company’s products are designed to help marketing, communications, sales and customer service teams plan and publish content, monitor conversations, respond to audiences, evaluate social media performance and gain insights from online activity.