Sprout Social, Inc. (NASDAQ:SPT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Sprout Social, Inc. (NASDAQ:SPT) have been given an average recommendation of “Moderate Buy” by the fifteen ratings firms that are covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $56.57.

Several equities research analysts have recently commented on SPT shares. KeyCorp cut Sprout Social from an “overweight” rating to a “sector weight” rating in a research note on Friday, May 3rd. Robert W. Baird dropped their price objective on Sprout Social from $45.00 to $38.00 and set a “neutral” rating for the company in a report on Thursday. The Goldman Sachs Group lowered shares of Sprout Social from a “buy” rating to a “neutral” rating and reduced their target price for the company from $80.00 to $44.00 in a research note on Friday, May 3rd. Cantor Fitzgerald dropped their price target on shares of Sprout Social from $74.00 to $46.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. Finally, Barclays reduced their price objective on shares of Sprout Social from $72.00 to $50.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd.

Insider Transactions at Sprout Social

In other news, CFO Preto Joseph Del sold 1,500 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $59.63, for a total value of $89,445.00. Following the completion of the transaction, the chief financial officer now directly owns 172,644 shares in the company, valued at approximately $10,294,761.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Preto Joseph Del sold 1,500 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $59.63, for a total transaction of $89,445.00. Following the completion of the transaction, the chief financial officer now directly owns 172,644 shares of the company’s stock, valued at approximately $10,294,761.72. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Justyn Russell Howard sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $34.05, for a total transaction of $681,000.00. Following the completion of the transaction, the chief executive officer now owns 398,229 shares in the company, valued at approximately $13,559,697.45. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 108,870 shares of company stock valued at $4,673,003. 10.97% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SPT. Verdence Capital Advisors LLC raised its stake in shares of Sprout Social by 3.2% during the 4th quarter. Verdence Capital Advisors LLC now owns 7,345 shares of the company’s stock worth $451,000 after purchasing an additional 225 shares during the period. Arcadia Investment Management Corp MI raised its holdings in Sprout Social by 36.7% during the 4th quarter. Arcadia Investment Management Corp MI now owns 1,047 shares of the company’s stock valued at $64,000 after acquiring an additional 281 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Sprout Social by 14.8% during the third quarter. PNC Financial Services Group Inc. now owns 2,500 shares of the company’s stock worth $125,000 after acquiring an additional 323 shares in the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of Sprout Social in the first quarter valued at $27,000. Finally, RiverPark Advisors LLC lifted its holdings in Sprout Social by 67.8% during the 4th quarter. RiverPark Advisors LLC now owns 1,247 shares of the company’s stock worth $77,000 after purchasing an additional 504 shares in the last quarter.

Sprout Social Stock Up 4.7 %

SPT stock opened at $35.68 on Friday. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of -28.54 and a beta of 0.99. The company has a 50-day moving average of $35.41 and a two-hundred day moving average of $51.48. Sprout Social has a 52-week low of $25.68 and a 52-week high of $68.41. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.97 and a quick ratio of 0.97.

Sprout Social (NASDAQ:SPT) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.10. Sprout Social had a negative net margin of 19.64% and a negative return on equity of 42.51%. The company had revenue of $96.78 million for the quarter, compared to analyst estimates of $97.29 million. As a group, equities research analysts anticipate that Sprout Social will post -0.84 EPS for the current 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.