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

Sprout Social, Inc. (NASDAQ:SPT) has received a consensus rating of “Moderate Buy” from the fifteen research firms that are presently covering the firm, Marketbeat reports. Seven analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $56.43.

A number of analysts have weighed in on the company. Needham & Company LLC reiterated a “buy” rating and set a $55.00 price target on shares of Sprout Social in a report on Wednesday, July 24th. Morgan Stanley cut their target price on Sprout Social from $65.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Friday, May 3rd. BTIG Research downgraded Sprout Social from a “buy” rating to a “neutral” rating in a report on Friday, May 3rd. Cantor Fitzgerald dropped their price target on Sprout Social from $74.00 to $46.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. Finally, The Goldman Sachs Group downgraded shares of Sprout Social from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $80.00 to $44.00 in a research report on Friday, May 3rd.

Sprout Social Trading Down 1.4 %

Shares of SPT stock opened at $38.37 on Thursday. Sprout Social has a 1-year low of $25.68 and a 1-year high of $68.41. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.31. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of -30.70 and a beta of 1.00. The stock has a 50-day moving average of $34.67 and a 200-day moving average of $47.87.

Sprout Social (NASDAQ:SPT) last released its earnings results on Thursday, May 2nd. The company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.10. The business had revenue of $96.78 million during the quarter, compared to the consensus estimate of $97.29 million. Sprout Social had a negative net margin of 19.64% and a negative return on equity of 42.51%. On average, equities research analysts forecast that Sprout Social will post -0.84 earnings per share for the current year.

Insider Buying and Selling

In other Sprout Social news, CEO Justyn Russell Howard sold 20,000 shares of Sprout Social stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $36.13, for a total transaction of $722,600.00. Following the completion of the transaction, the chief executive officer now owns 398,229 shares in the company, valued at approximately $14,388,013.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Sprout Social news, CEO Justyn Russell Howard sold 20,000 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $36.13, for a total transaction of $722,600.00. Following the transaction, the chief executive officer now directly owns 398,229 shares in the company, valued at approximately $14,388,013.77. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Ryan Paul Barretto sold 15,586 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $32.14, for a total transaction of $500,934.04. Following the completion of the sale, the president now owns 484,115 shares of the company’s stock, valued at approximately $15,559,456.10. The disclosure for this sale can be found here. Insiders have sold 92,470 shares of company stock worth $3,063,248 in the last quarter. Insiders own 10.97% of the company’s stock.

Hedge Funds Weigh In On Sprout Social

Hedge funds have recently modified their holdings of the company. Fidelis Capital Partners LLC purchased a new position in shares of Sprout Social in the 1st quarter worth about $27,000. EntryPoint Capital LLC bought a new stake in Sprout Social in the first quarter worth about $37,000. Covestor Ltd boosted its stake in Sprout Social by 35,450.0% in the first quarter. Covestor Ltd now owns 711 shares of the company’s stock valued at $42,000 after acquiring an additional 709 shares during the last quarter. Bessemer Group Inc. bought a new position in shares of Sprout Social during the 1st quarter valued at approximately $61,000. Finally, Arcadia Investment Management Corp MI increased its stake in shares of Sprout Social by 36.7% during the 4th quarter. Arcadia Investment Management Corp MI now owns 1,047 shares of the company’s stock worth $64,000 after purchasing an additional 281 shares during the last quarter.

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.