Sprout Social, Inc. (NASDAQ:SPT) Given Average Rating of “Hold” by Analysts

Sprout Social, Inc. (NASDAQ:SPT) has been given an average rating of “Hold” by the fourteen research firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $48.00.

SPT has been the topic of a number of recent analyst reports. Barclays cut their price target on shares of Sprout Social from $48.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 target price on shares of Sprout Social in a research note on Friday, August 2nd. Oppenheimer dropped their price target on shares of Sprout Social from $43.00 to $40.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. KeyCorp lowered shares of Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 price objective for the company. in a report on Thursday, August 22nd. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $46.00 price target on shares of Sprout Social in a report on Friday, August 2nd.

Insider Buying and Selling at Sprout Social

In other news, President Ryan Paul Barretto sold 13,306 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $29.23, for a total transaction of $388,934.38. Following the completion of the sale, the president now owns 470,809 shares in the company, valued at approximately $13,761,747.07. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Justyn Russell Howard sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $28.23, for a total transaction of $564,600.00. Following the sale, the insider now directly owns 7,417 shares of the company’s stock, valued at approximately $209,381.91. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Ryan Paul Barretto sold 13,306 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $29.23, for a total transaction of $388,934.38. Following the transaction, the president now directly owns 470,809 shares of the company’s stock, valued at approximately $13,761,747.07. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 87,882 shares of company stock worth $2,570,471 in the last 90 days. 10.97% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Dorsey Asset Management LLC purchased a new stake in shares of Sprout Social during the second quarter valued at $61,583,000. Jericho Capital Asset Management L.P. bought a new stake in Sprout Social during the 1st quarter valued at approximately $22,332,000. Allspring Global Investments Holdings LLC increased its holdings in Sprout Social by 98.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 664,970 shares of the company’s stock valued at $23,726,000 after buying an additional 330,309 shares during the period. Millennium Management LLC lifted its position in shares of Sprout Social by 9,779.5% during the 2nd quarter. Millennium Management LLC now owns 331,260 shares of the company’s stock worth $11,819,000 after buying an additional 327,907 shares during the period. Finally, Jennison Associates LLC grew its holdings in shares of Sprout Social by 17.0% in the 1st quarter. Jennison Associates LLC now owns 2,137,422 shares of the company’s stock worth $127,625,000 after purchasing an additional 311,146 shares during the last quarter.

Sprout Social Price Performance

SPT opened at $26.97 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.98 and a current ratio of 0.98. Sprout Social has a 52-week low of $25.05 and a 52-week high of $68.41. The stock has a market capitalization of $1.54 billion, a PE ratio of -20.59 and a beta of 0.97. The stock’s 50 day moving average price is $28.47 and its 200-day moving average price is $33.35.

Sprout Social (NASDAQ:SPT) last announced its earnings results on Thursday, August 1st. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. Sprout Social had a negative net margin of 19.60% and a negative return on equity of 44.38%. The business had revenue of $99.40 million during the quarter, compared to the consensus estimate of $98.70 million. During the same quarter last year, the firm earned ($0.23) earnings per share. The business’s revenue for the quarter was up 25.3% on a year-over-year basis. On average, equities research analysts predict that Sprout Social will post -0.9 EPS for the current year.

Sprout Social Company Profile

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.