Sprout Social, Inc. (NASDAQ:SPT) Receives $44.54 Average Price Target from Analysts

Sprout Social, Inc. (NASDAQ:SPT) has been given an average rating of “Hold” by the fourteen analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $42.42.

Several brokerages have recently issued reports on SPT. Barclays reduced their target price on shares of Sprout Social from $48.00 to $38.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Scotiabank started coverage on shares of Sprout Social in a research note on Monday, November 18th. They issued a “sector perform” rating and a $28.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $55.00 price target on shares of Sprout Social in a research report on Wednesday, January 15th. Piper Sandler cut their price target on shares of Sprout Social from $40.00 to $29.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th. Finally, Morgan Stanley increased their price target on shares of Sprout Social from $36.00 to $37.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th.

Insiders Place Their Bets

In related news, Director Karen Walker sold 5,000 shares of the firm’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $30.26, for a total value of $151,300.00. Following the completion of the transaction, the director now directly owns 30,665 shares of the company’s stock, valued at approximately $927,922.90. This trade represents a 14.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Paul Barretto sold 13,465 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $31.45, for a total transaction of $423,474.25. Following the completion of the transaction, the chief executive officer now directly owns 546,343 shares of the company’s stock, valued at $17,182,487.35. This represents a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 80,265 shares of company stock worth $2,533,406. Company insiders own 10.97% of the company’s stock.

Hedge Funds Weigh In On Sprout Social

Several hedge funds and other institutional investors have recently made changes to their positions in SPT. Rhumbline Advisers grew its stake in shares of Sprout Social by 2.8% in the second quarter. Rhumbline Advisers now owns 71,399 shares of the company’s stock valued at $2,548,000 after buying an additional 1,911 shares in the last quarter. Renaissance Technologies LLC bought a new position in Sprout Social during the second quarter worth $1,959,000. Edgestream Partners L.P. acquired a new position in shares of Sprout Social in the second quarter valued at $969,000. Hsbc Holdings PLC increased its holdings in shares of Sprout Social by 134.5% in the second quarter. Hsbc Holdings PLC now owns 13,589 shares of the company’s stock valued at $472,000 after purchasing an additional 7,793 shares during the last quarter. Finally, Brighton Jones LLC increased its holdings in shares of Sprout Social by 16.7% in the second quarter. Brighton Jones LLC now owns 16,852 shares of the company’s stock valued at $601,000 after purchasing an additional 2,411 shares during the last quarter.

Sprout Social Stock Up 0.1 %

Shares of NASDAQ:SPT opened at $33.07 on Thursday. Sprout Social has a 12 month low of $25.05 and a 12 month high of $68.41. The company’s 50-day moving average price is $31.91 and its two-hundred day moving average price is $31.22. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. The firm has a market cap of $1.90 billion, a P/E ratio of -27.56 and a beta of 1.03.

Sprout Social (NASDAQ:SPT) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). The company had revenue of $102.64 million for the quarter, compared to the consensus estimate of $102.04 million. Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. As a group, research analysts forecast that Sprout Social will post -0.99 EPS for the current fiscal year.

About Sprout Social

Sprout Social, Inc designs, develops, and operates a web-based social media management platform in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company provides cloud software for social messaging, data and workflows in a unified system of record, intelligence, and action.