Sprout Social, Inc. (NASDAQ:SPT) Receives $56.57 Consensus PT from Brokerages

Shares of Sprout Social, Inc. (NASDAQ:SPT) have been assigned an average recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the firm, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $56.57.

A number of research analysts recently commented on SPT shares. Needham & Company LLC reissued a “buy” rating and issued a $55.00 price target on shares of Sprout Social in a report on Friday, June 7th. Cantor Fitzgerald dropped their price objective on shares of Sprout Social from $74.00 to $46.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Piper Sandler cut Sprout Social from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $66.00 to $40.00 in a report on Friday, May 3rd. Morgan Stanley dropped their price target on Sprout Social from $65.00 to $49.00 and set an “equal weight” rating for the company in a research note on Friday, May 3rd. Finally, KeyCorp cut Sprout Social from an “overweight” rating to a “sector weight” rating in a report on Friday, May 3rd.

Sprout Social Trading Down 2.4 %

NASDAQ:SPT opened at $36.37 on Friday. Sprout Social has a one year low of $25.68 and a one year high of $68.41. The business has a fifty day moving average price of $34.81 and a 200-day moving average price of $51.11. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of -29.10 and a beta of 1.00. 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 announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.10. Sprout Social had a negative return on equity of 42.51% and a negative net margin of 19.64%. The company had revenue of $96.78 million during the quarter, compared to the consensus estimate of $97.29 million. Sell-side analysts forecast that Sprout Social will post -0.84 EPS for the current year.

Insider Buying and Selling

In other Sprout Social news, Director Aaron Edward Frederick Rankin sold 22,000 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $56.95, for a total transaction of $1,252,900.00. Following the completion of the sale, the director now owns 44,487 shares in the company, valued at $2,533,534.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Sprout Social news, Director Aaron Edward Frederick Rankin sold 22,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $56.95, for a total value of $1,252,900.00. Following the completion of the sale, the director now directly owns 44,487 shares in the company, valued at $2,533,534.65. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Ryan Paul Barretto sold 5,600 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $56.95, for a total value of $318,920.00. Following the sale, the president now owns 198,175 shares of the company’s stock, valued at approximately $11,286,066.25. The disclosure for this sale can be found here. Insiders sold a total of 108,870 shares of company stock valued at $4,638,548 over the last three months. 10.97% of the stock is owned by company insiders.

Institutional Trading of Sprout Social

A number of institutional investors have recently bought and sold shares of SPT. Public Employees Retirement Association of Colorado lifted its position in Sprout Social by 2,935.8% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 208,164 shares of the company’s stock valued at $12,790,000 after purchasing an additional 201,307 shares during the period. Stifel Financial Corp grew its holdings in Sprout Social by 77.5% during the fourth quarter. Stifel Financial Corp now owns 95,789 shares of the company’s stock worth $5,885,000 after acquiring an additional 41,834 shares during the period. Los Angeles Capital Management LLC grew its holdings in Sprout Social by 67.2% during the fourth quarter. Los Angeles Capital Management LLC now owns 19,031 shares of the company’s stock worth $1,169,000 after acquiring an additional 7,646 shares during the period. Knights of Columbus Asset Advisors LLC lifted its holdings in Sprout Social by 162.5% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 74,357 shares of the company’s stock valued at $4,568,000 after acquiring an additional 46,033 shares during the period. Finally, Natixis Advisors L.P. boosted its position in Sprout Social by 43.7% in the 3rd quarter. Natixis Advisors L.P. now owns 61,300 shares of the company’s stock worth $3,058,000 after purchasing an additional 18,644 shares in 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.