Sprout Social, Inc. (NASDAQ:SPT) Receives $45.62 Average Target Price from Analysts

Sprout Social, Inc. (NASDAQ:SPT) has earned a consensus rating of “Hold” from the fifteen analysts that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $45.46.

A number of brokerages recently issued reports on SPT. 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 price target for the company. Oppenheimer lowered their target price on shares of Sprout Social from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Tuesday. KeyCorp cut Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 price target on the stock. in a research note on Thursday, August 22nd. Piper Sandler decreased their price target on Sprout Social from $40.00 to $29.00 and set a “neutral” rating for the company in a report on Monday, November 11th. Finally, Barclays dropped their price objective on Sprout Social from $48.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, October 11th.

Sprout Social Trading Down 1.0 %

SPT opened at $31.12 on Wednesday. The business has a fifty day simple moving average of $28.88 and a 200-day simple moving average of $31.53. Sprout Social has a 52 week low of $25.05 and a 52 week high of $68.41. 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 $1.79 billion, a P/E ratio of -25.93 and a beta of 1.03.

Sprout Social (NASDAQ:SPT) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.06). The business had revenue of $102.64 million during the quarter, compared to analysts’ expectations of $102.04 million. Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. On average, equities analysts expect that Sprout Social will post -0.98 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Justyn Russell Howard sold 20,000 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $28.23, for a total transaction of $564,600.00. Following the transaction, the insider now directly owns 7,417 shares in the company, valued at $209,381.91. The trade was a 72.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Preto Joseph Del sold 1,500 shares of Sprout Social stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $28.27, for a total value of $42,405.00. Following the completion of the sale, the chief financial officer now directly owns 158,614 shares in the company, valued at $4,484,017.78. This represents a 0.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,300 shares of company stock worth $1,081,605 in the last 90 days. Company insiders own 10.97% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Quarry LP boosted its position in shares of Sprout Social by 2,346.9% during the 2nd quarter. Quarry LP now owns 783 shares of the company’s stock worth $28,000 after purchasing an additional 751 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in Sprout Social during the first quarter worth about $37,000. Bessemer Group Inc. acquired a new position in Sprout Social during the first quarter worth about $61,000. nVerses Capital LLC increased its holdings in Sprout Social by 76.5% in the second quarter. nVerses Capital LLC now owns 3,000 shares of the company’s stock valued at $107,000 after buying an additional 1,300 shares in the last quarter. Finally, Assetmark Inc. lifted its position in shares of Sprout Social by 27.5% during the 3rd quarter. Assetmark Inc. now owns 3,717 shares of the company’s stock valued at $108,000 after acquiring an additional 801 shares during the period.

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.