Sprout Social (NASDAQ:SPT) Now Covered by Scotiabank

Scotiabank assumed coverage on shares of Sprout Social (NASDAQ:SPT) in a report issued on Monday,Benzinga reports. The firm issued a sector perform rating on the stock.

A number of other equities analysts have also recently commented on the stock. Barclays dropped their price target on shares of Sprout Social from $48.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. KeyCorp cut Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 target price on the stock. in a research note on Thursday, August 22nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $46.00 price target on shares of Sprout Social in a report on Friday, August 2nd. Oppenheimer dropped their price objective on Sprout Social from $43.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $55.00 target price on shares of Sprout Social in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $47.08.

Sprout Social Price Performance

NASDAQ:SPT opened at $28.61 on Monday. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of -23.84 and a beta of 0.99. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.98. The business has a 50 day simple moving average of $28.15 and a 200-day simple moving average of $31.33. Sprout Social has a 1 year low of $25.05 and a 1 year high of $68.41.

Sprout Social (NASDAQ:SPT) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). The company had revenue of $102.64 million during 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%. Equities analysts forecast that Sprout Social will post -0.9 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Preto Joseph Del sold 1,500 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $29.81, for a total value of $44,715.00. Following the completion of the transaction, the chief financial officer now directly owns 162,624 shares of the company’s stock, valued at approximately $4,847,821.44. The trade was a 0.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Justyn Russell Howard sold 20,000 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $28.23, for a total value of $564,600.00. Following the sale, the insider now owns 7,417 shares of the company’s stock, valued at $209,381.91. This trade represents a 72.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 62,882 shares of company stock worth $1,801,351 in the last three months. Corporate insiders own 10.97% of the company’s stock.

Hedge Funds Weigh In On Sprout Social

A number of large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in shares of Sprout Social in the 1st quarter worth approximately $168,000. Sei Investments Co. boosted its stake in Sprout Social by 3.5% in the first quarter. Sei Investments Co. now owns 89,690 shares of the company’s stock valued at $5,355,000 after acquiring an additional 3,042 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Sprout Social by 2.8% in the first quarter. Russell Investments Group Ltd. now owns 39,352 shares of the company’s stock worth $2,350,000 after purchasing an additional 1,060 shares during the last quarter. ProShare Advisors LLC increased its position in shares of Sprout Social by 8.9% during the first quarter. ProShare Advisors LLC now owns 9,587 shares of the company’s stock worth $572,000 after purchasing an additional 784 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its holdings in shares of Sprout Social by 6.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 14,571 shares of the company’s stock valued at $887,000 after purchasing an additional 930 shares during the last quarter.

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.