$56.18 Million in Sales Expected for Sprout Social, Inc. (NASDAQ:SPT) This Quarter

Brokerages forecast that Sprout Social, Inc. (NASDAQ:SPT – Get Rating) will post sales of $56.18 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Sprout Social’s earnings, with the lowest sales estimate coming in at $56.15 million and the highest estimate coming in at $56.20 million. Sprout Social reported sales of $40.82 million in the same quarter last year, which would suggest a positive year over year growth rate of 37.6%. The business is expected to announce its next quarterly earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Sprout Social will report full year sales of $249.39 million for the current financial year, with estimates ranging from $249.00 million to $249.54 million. For the next financial year, analysts anticipate that the business will post sales of $327.24 million, with estimates ranging from $324.20 million to $335.00 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Sprout Social.

Sprout Social (NASDAQ:SPT – Get Rating) last posted its earnings results on Tuesday, February 22nd. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.01). The firm had revenue of $53.27 million during the quarter, compared to analysts’ expectations of $51.28 million. During the same quarter in the previous year, the business earned ($0.11) earnings per share. The business’s revenue for the quarter was up 42.6% on a year-over-year basis.

A number of brokerages have commented on SPT. Cantor Fitzgerald started coverage on Sprout Social in a research report on Tuesday, April 5th. They issued an “overweight” rating and a $99.00 price target for the company. Needham & Company LLC reduced their price objective on Sprout Social from $160.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, February 23rd. Morgan Stanley cut their price target on Sprout Social from $110.00 to $70.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 23rd. Stifel Nicolaus reduced their price target on Sprout Social from $155.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, February 23rd. Finally, Barclays reduced their price target on Sprout Social from $92.00 to $73.00 and set an “overweight” rating for the company in a research report on Wednesday, February 23rd. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $104.42.

Shares of NASDAQ:SPT traded down $2.65 during midday trading on Friday, reaching $69.51. 13,128 shares of the company’s stock traded hands, compared to its average volume of 686,815. Sprout Social has a one year low of $48.79 and a one year high of $145.42. The stock has a 50 day moving average of $70.07 and a 200 day moving average of $89.72.

In other news, President Ryan Paul Barretto sold 5,600 shares of the company’s stock in a transaction dated Thursday, February 3rd. The stock was sold at an average price of $62.42, for a total value of $349,552.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Justyn Russell Howard sold 20,000 shares of the company’s stock in a transaction dated Tuesday, February 8th. The stock was sold at an average price of $70.92, for a total value of $1,418,400.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 159,851 shares of company stock worth $10,814,178. Company insiders own 14.86% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its holdings in Sprout Social by 1.2% in the 4th quarter. BlackRock Inc. now owns 3,738,364 shares of the company’s stock worth $339,033,000 after purchasing an additional 45,923 shares during the period. Invesco Ltd. raised its holdings in Sprout Social by 6.6% in the 4th quarter. Invesco Ltd. now owns 1,786,931 shares of the company’s stock worth $162,057,000 after purchasing an additional 110,733 shares during the period. Macquarie Group Ltd. raised its holdings in Sprout Social by 32.5% in the 3rd quarter. Macquarie Group Ltd. now owns 1,422,502 shares of the company’s stock worth $173,474,000 after purchasing an additional 349,124 shares during the period. Zevenbergen Capital Investments LLC raised its holdings in Sprout Social by 10.4% in the 3rd quarter. Zevenbergen Capital Investments LLC now owns 1,258,605 shares of the company’s stock worth $153,487,000 after purchasing an additional 118,126 shares during the period. Finally, State Street Corp raised its holdings in Sprout Social by 2.8% in the 4th quarter. State Street Corp now owns 902,267 shares of the company’s stock worth $81,827,000 after purchasing an additional 24,972 shares during the period. Hedge funds and other institutional investors own 83.57% of the company’s stock.

Sprout Social Company Profile (Get Rating)

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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