These Analysts Lower Their Forecasts On Sprouts Farmers Market Following Q3 Results - Sprouts Farmers Market (NASDAQ:SFM)

Core Insights - Sprouts Farmers Market reported third-quarter earnings of $1.22 per share, exceeding analyst expectations of $1.17 per share, but quarterly sales of $2.200 billion fell short of the consensus estimate of $2.225 billion [1] - The company provided fourth-quarter adjusted EPS guidance of 86 to 90 cents, below market estimates of 98 cents [2] - Following the earnings announcement, Sprouts Farmers Market shares dropped 26% to $77.29 [3] Financial Performance - Third-quarter earnings per share: $1.22, beating the consensus estimate of $1.17 [1] - Quarterly sales: $2.200 billion, missing the analyst consensus estimate of $2.225 billion [1] - Fourth-quarter adjusted EPS guidance: 86 to 90 cents, compared to market estimates of 98 cents [2] Management Commentary - CEO Jack Sinclair highlighted the company's strategy of opening stores nationwide and its resonance with target customers, contributing to strong third-quarter performance [3] - Sinclair emphasized the company's financial foundation and disciplined execution as key to delivering sustainable earnings growth [3] Analyst Reactions - Wells Fargo analyst Edward Kelly maintained an Overweight rating but lowered the price target from $180 to $135 [6] - RBC Capital analyst Steven Shemesh maintained an Outperform rating and reduced the price target from $148 to $140 [6] - Goldman Sachs analyst Kate McShane kept a Buy rating while lowering the price target from $178 to $152 [6] - Evercore ISI Group analyst Michael Morris maintained an Outperform rating and cut the price target from $175 to $130 [6]