Revenue Miss Sends $SPT Shares Plummeting 20% - EPS 10c vs 65c, Total rev FY $405-406mn vs $426mn, Q1 $3.2mm, Q2 $2mm

Shares of $SPT plummeted by 20% following the earnings release, with a revenue miss. The company reported an adjusted EPS of 10c compared to an estimated 65c. It anticipates total revenue for the fiscal year to be $405-406 million, falling short of the estimated $426 million. Despite previous guidance for significant revenue growth, the company's Q1 growth was only $3.2 million, with a forecast of $2 million for Q2, leading to a substantial reduction in full-year guidance. Analysts have slashed price targets from the $60s and $70s to the $40s and $45. Management remains optimistic about the future.