Sprout Social, Inc. (NASDAQ:SPT) reported better-than-expected second-quarter financial results and issued third-quarter sales guidance above estimates. Also, the company raised its FY25 sales guidance above estimates.
Sprout Social reported quarterly earnings of 18 cents per share which beat the analyst consensus estimate of 15 cents per share. The company reported quarterly sales of $111.110 million which beat the analyst consensus estimate of $110.920 million.
“Our team delivered strong results in the second quarter, highlighted by 12% revenue growth and solid profitability,” said Ryan Barretto, CEO of Sprout Social. “We remain committed to strengthening our enterprise presence by increasing customer adoption, expanding within existing accounts, and scaling growth through strategic partnerships. We believe our investments in our product, especially our recent acquisition of NewsWhip, uniquely position us to become the leading social media management platform for all brands.”
Sprout Social shares fell 3.6% to $15.48 on Thursday.
These analysts made changes to their price targets on Sprout Social following earnings announcement.
- Oppenheimer analyst Brian Schwartz maintained Sprout Social with an Outperform rating and lowered the price target from $32 to $23.
- Goldman Sachs analyst Chris Merwin maintained Sprout Social with a Neutral and lowered the price target from $24 to $21.
Considering buying SPT stock? Here’s what analysts think:
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