KeyCorp analysts just cut their Q1 2023 earnings per share (EPS) forecast for Sprout Social stock (SPT:NSD). The company is currently expected to report a quarterly EPS of ($0.28), a decline from the prior estimate of ($0.25) KeyCorp maintained its “Overweight” rating and $75.00 price objective on the company despite the reduced projection.
The consensus estimate for Sprout Social’s current full-year earnings is ($1.03) per share, with KeyCorp projecting earnings of ($0.29) per share in Q2 2023, ($0.28) per share in Q3 2023, and ($0.28) per share in Q4 2023. KeyCorp also provided profit expectations for FY2023 at ($1.14) per share, Q1 2024 at ($0.29) per share, Q2 2024 at ($0.32) per share, Q4 2024 at ($0.31) per share, and FY2024 at ($1.25) per share.
Analyst Ratings:
With “overweight,” “buy,” and “outperform” ratings, Piper Sandler, Canaccord Genuity Group, and Robert W. Baird have raised their price targets for Sprout Social stock. Cantor Fitzgerald, on the other hand, downgraded the company from “overweight” to “neutral” and lowered their price target from $62.00 to $53.00. View: Analyst Forecast
Sprout Social Stock Price Analysis:
Monday’s opening price for Sprout Social stock is $62.30, representing a loss of 2.9%. The business has a $3.42 billion market capitalization, a PE ratio of -67.72, and a beta of 0.90.
The 50-day simple moving average for Sprout Social is $59.87, and the 200-day simple moving average is $60.08. Sprout Social stock’s 12-month low price is $38.39, while its 12-month high price is $85.98.
Hedge Funds & Institutional Investors:
Recently, institutional investors and hedge funds have either increased or decreased their SPT holdings. In the fourth quarter of 2022, Natixis acquired a new investment in Sprout Social, while Alliancebernstein L.P. boosted its shares by 0.4%.
In the fourth quarter of 2022, Point72 Middle East FZE and Schonfeld Strategic Advisors LLC acquired new shares in the company, while Lazard Asset Management LLC boosted its holdings by 592.9%. 86.34% of Sprout Social stock shares are now owned by institutional investors and hedge funds.
Sprout Social Stock-Insider Transactions:
In related news, CEO Justyn Russell Howard sold 20,000 shares of the company’s stock in December 2022, with CFO Preto Joseph Del selling 1,500 shares in February 2023.
Company Profile:
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.
The company also offers professional services, which primarily consist of consulting and training services. It serves small-and-medium-sized businesses, mid-market companies, enterprises, marketing agencies, government, non-profit, and educational institutions. Sprout Social, Inc. was incorporated in 2010 and is headquartered in Chicago, Illinois.
