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Sprouts Farmers Market, Inc. (NASDAQ:SFM) shares are rising Tuesday following impressive second-quarter 2024 financial results and strong third-quarter guidance.
What Happened: Sprouts reported adjusted earnings per share (EPS) of 91 cents, surpassing the estimated 78 cents. Sales figures also beat expectations, coming in at $1.890 billion against the forecasted $1.835 billion.
The company also issued third-quarter earnings guidance above analysts' estimates, with EPS outlook of 71 cents to 75 cents per share versus estimates of 69 cents per share.
Analyst Upgrades and Price Target Increases
Following these results, several analysts have upgraded their ratings and raised their price targets for Sprouts Farmers Market:
SFM Price Action: Sprouts Farmers Market’s shares were up by 14.5% at $96.93 according to Benzinga Pro.
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Posted In: SFM