Sprout Social, Inc. (NASDAQ: SPT) has experienced significant financial setbacks as evidenced by its recent quarterly earnings report. The company's shares fell by 30.5% following the announcement of first-quarter sales of $25.47 million, which fell short of the expected $57.11 million. This underperformance led analysts to drastically reduce their price targets from the $60s and $70s range down to the $40s to $45. Additionally, Sprout Social posted a net loss of $13.6 million, or 24 cents per share, compared to a loss of $10.3 million, or 19 cents per share, in the same period last year. Despite a 29% increase in revenue to $96.8 million, it still missed Wall Street forecasts by a narrow margin. The company had initially guided for a 30% revenue growth this year, which would imply an addition of approximately $90 million. However, it only achieved a $3.2 million increase in Q1 and is projecting a mere $2 million growth for Q2, leading to a significant cut in its full-year revenue forecast to $405-406 million from the estimated $426 million. The stock is down another 20% after the earnings release, with quarterly adjusted EPS at 10 cents, significantly below the estimate of 65 cents.
$SPT long way from all time lows of $9.98 but at $30 the stock seems to be headed lower https://t.co/sXk7oAXgAd
$SPT posted a net loss of $13.6 million, or 24 cents a share, compared with a loss of $10.3 million, or 19 cents a share, for the same period a year earlier. Revenue rose 29%, to $96.8 million. Wall Street had forecast higher revenue of $97.4 million. For the year, the company⦠https://t.co/9ovypM8A8K
$SPT short update lol https://t.co/gltFl5c5TZ
Whaaaaatttt $SPT The company's quarterly sales came in at $25.47 million missing estimates of $57.11 million, Analysts all CUT their price targets from $60s and $70s to $40s to $45
$SPT (-30.5% pre) Sprout Social (NASDAQ:SPT) Reports Sales Below Analyst Estimates In Q1 Earnings https://t.co/5LZFpA0AT7
$spt mgmt "future has never been brighter" https://t.co/Q9odD6ngID
Best part of $spt is they have not even hit social studio cliff yet. https://t.co/YaPOk6v5Pe
$SPT was guiding for 30% revenue growth this year, which implied adding ~$90mm of revenue in '24. It just announced Q1 growth of $3.2mm and is guiding for $2mm of growth in Q2. It cut the full year guided *massively* and it STILL looks high. This is a f*cking disaster. https://t.co/y5nvAPMxRh
This short has paid off well over the last year, $SPT down another 20% after earnings release (rev miss) - QA Adj EPS 10c, est 65c - Sees FY total rev $405-406mn, est $426mn https://t.co/gSBwai4Do1