Sprout Social, Inc. (NASDAQ:SPT) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Sprout Social, Inc. (NASDAQ:SPT) have been assigned an average rating of “Hold” from the fifteen research firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $44.54.

SPT has been the subject of several recent analyst reports. Piper Sandler decreased their price objective on shares of Sprout Social from $40.00 to $29.00 and set a “neutral” rating for the company in a report on Monday, November 11th. Oppenheimer decreased their price target on shares of Sprout Social from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Tuesday, December 3rd. Morgan Stanley raised their price target on Sprout Social from $36.00 to $37.00 and gave the company an “equal weight” rating in a research report on Monday. Needham & Company LLC reissued a “buy” rating and set a $55.00 price objective on shares of Sprout Social in a research report on Wednesday. Finally, Barclays lowered their target price on Sprout Social from $48.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, October 11th.

Insider Transactions at Sprout Social

In other news, CEO Ryan Paul Barretto sold 16,800 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $30.99, for a total transaction of $520,632.00. Following the completion of the sale, the chief executive officer now owns 153,375 shares of the company’s stock, valued at approximately $4,753,091.25. This trade represents a 9.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Karen Walker sold 5,000 shares of Sprout Social stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $30.26, for a total transaction of $151,300.00. Following the completion of the transaction, the director now owns 30,665 shares of the company’s stock, valued at $927,922.90. This trade represents a 14.02 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,265 shares of company stock valued at $1,266,606. Corporate insiders own 10.97% of the company’s stock.

Institutional Investors Weigh In On Sprout Social

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP grew its holdings in shares of Sprout Social by 2,346.9% during the second quarter. Quarry LP now owns 783 shares of the company’s stock worth $28,000 after purchasing an additional 751 shares during the last quarter. Assetmark Inc. lifted its position in Sprout Social by 27.5% during the 3rd quarter. Assetmark Inc. now owns 3,717 shares of the company’s stock worth $108,000 after buying an additional 801 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in Sprout Social during the 2nd quarter worth about $218,000. Yarbrough Capital LLC bought a new stake in Sprout Social during the 4th quarter worth about $206,000. Finally, Entropy Technologies LP acquired a new stake in Sprout Social in the 3rd quarter valued at about $265,000.

Sprout Social Price Performance

Shares of NASDAQ:SPT opened at $31.62 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market capitalization of $1.81 billion, a P/E ratio of -26.35 and a beta of 1.03. The business has a 50-day moving average of $31.47 and a two-hundred day moving average of $31.35. Sprout Social has a fifty-two week low of $25.05 and a fifty-two week high of $68.41.

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