Sprouts Farmers Market Shares Surge On Strong Q2 Results And Upbeat Guidance
Portfolio Pulse from Vaishali Prayag
Sprouts Farmers Market, Inc. (NASDAQ:SFM) shares surged following strong Q2 2024 results and upbeat Q3 guidance. The company reported adjusted EPS of 91 cents, beating estimates of 78 cents, and sales of $1.890 billion, surpassing the forecasted $1.835 billion. Analysts have upgraded their ratings and raised price targets for SFM, contributing to a 14.5% increase in share price to $96.93.
July 30, 2024 | 7:11 pm
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Sprouts Farmers Market reported strong Q2 2024 results with adjusted EPS of 91 cents, beating estimates of 78 cents, and sales of $1.890 billion, surpassing the forecasted $1.835 billion. The company also issued strong Q3 guidance. Analysts upgraded their ratings and raised price targets, leading to a 14.5% increase in share price to $96.93.
The strong Q2 results and upbeat Q3 guidance indicate robust financial health and growth prospects for Sprouts Farmers Market. The positive analyst upgrades and increased price targets further reinforce investor confidence, leading to a significant rise in share price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100