Sprout Social, Inc. (NASDAQ:SPT) Receives $45.46 Consensus Target Price from Brokerages

Sprout Social, Inc. (NASDAQ:SPT) has been given a consensus recommendation of “Hold” by the fifteen research firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $45.46.

SPT has been the topic of several recent research reports. Scotiabank began 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 objective on the stock. Piper Sandler decreased their price target on shares of Sprout Social from $40.00 to $29.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th. Needham & Company LLC reissued a “buy” rating and set a $55.00 price objective on shares of Sprout Social in a research report on Friday, November 8th. Oppenheimer decreased their target price on Sprout Social from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Tuesday, December 3rd. Finally, Barclays cut their price target on Sprout Social from $48.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, October 11th.

Insider Transactions at Sprout Social

In other Sprout Social news, Director Karen Walker sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $34.24, for a total transaction of $171,200.00. Following the completion of the transaction, the director now owns 35,665 shares in the company, valued at $1,221,169.60. This trade represents a 12.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Preto Joseph Del sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $28.27, for a total value of $42,405.00. Following the sale, the chief financial officer now directly owns 158,614 shares in the company, valued at $4,484,017.78. This trade represents a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,765 shares of company stock valued at $1,676,279. 10.97% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sprout Social

Institutional investors and hedge funds have recently made changes to their positions in the business. Arizona State Retirement System boosted its holdings in shares of Sprout Social by 3.9% in the 2nd quarter. Arizona State Retirement System now owns 13,934 shares of the company’s stock worth $497,000 after purchasing an additional 529 shares during the period. Diversified Trust Co lifted its position in Sprout Social by 3.8% in the third quarter. Diversified Trust Co now owns 15,770 shares of the company’s stock worth $458,000 after buying an additional 571 shares during the last quarter. Truist Financial Corp boosted its stake in Sprout Social by 6.1% during the second quarter. Truist Financial Corp now owns 11,260 shares of the company’s stock worth $402,000 after buying an additional 646 shares during the period. Ensign Peak Advisors Inc boosted its stake in Sprout Social by 3.9% during the second quarter. Ensign Peak Advisors Inc now owns 19,951 shares of the company’s stock worth $712,000 after buying an additional 750 shares during the period. Finally, Quarry LP increased its position in Sprout Social by 2,346.9% during the second quarter. Quarry LP now owns 783 shares of the company’s stock valued at $28,000 after acquiring an additional 751 shares during the last quarter.

Sprout Social Trading Down 1.7 %

Shares of SPT stock opened at $31.41 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19. Sprout Social has a 12-month low of $25.05 and a 12-month high of $68.41. The stock has a market capitalization of $1.80 billion, a P/E ratio of -26.17 and a beta of 1.03. The firm’s 50 day moving average is $30.54 and its 200 day moving average is $31.57.

Sprout Social (NASDAQ:SPT) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.06). The firm 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%. Research analysts expect that Sprout Social will post -0.98 earnings per share 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.