Brokerages Set Sprout Social, Inc. (NASDAQ:SPT) Target Price at $51.31

Sprout Social, Inc. (NASDAQ:SPT) has earned a consensus rating of “Hold” from the fifteen ratings firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $51.31.

SPT has been the topic of a number of recent analyst reports. Barclays cut their price target on shares of Sprout Social from $50.00 to $48.00 and set an “overweight” rating on the stock in a report on Tuesday, July 16th. KeyCorp lowered Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 target price for the company. in a report on Thursday, August 22nd. Needham & Company LLC restated a “buy” rating and issued a $55.00 price target on shares of Sprout Social in a research note on Friday, August 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $46.00 price objective on shares of Sprout Social in a research report on Friday, August 2nd. Finally, Robert W. Baird boosted their target price on Sprout Social from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd.

Insider Transactions at Sprout Social

In other news, CEO Justyn Russell Howard sold 20,000 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $36.13, for a total transaction of $722,600.00. Following the completion of the sale, the chief executive officer now owns 398,229 shares of the company’s stock, valued at approximately $14,388,013.77. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Justyn Russell Howard sold 20,000 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $36.13, for a total value of $722,600.00. Following the transaction, the chief executive officer now owns 398,229 shares of the company’s stock, valued at $14,388,013.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Aaron Edward Frederick Rankin sold 1,181 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $29.23, for a total value of $34,520.63. Following the transaction, the director now owns 42,122 shares of the company’s stock, valued at $1,231,226.06. The disclosure for this sale can be found here. Insiders have sold 82,282 shares of company stock worth $2,670,776 in the last quarter. Company insiders own 10.97% of the company’s stock.

Institutional Trading of Sprout Social

Hedge funds and other institutional investors have recently modified their holdings of the company. Fidelis Capital Partners LLC purchased a new position in Sprout Social in the 1st quarter worth approximately $27,000. Quarry LP boosted its position 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 acquiring an additional 751 shares during the last quarter. EntryPoint Capital LLC purchased a new position in Sprout Social during the first quarter valued at $37,000. Covestor Ltd lifted its stake in Sprout Social by 35,450.0% in the 1st quarter. Covestor Ltd now owns 711 shares of the company’s stock worth $42,000 after purchasing an additional 709 shares in the last quarter. Finally, Bessemer Group Inc. purchased a new position in shares of Sprout Social during the first quarter valued at about $61,000.

Sprout Social Trading Up 3.7 %

Sprout Social stock opened at $27.79 on Friday. Sprout Social has a 12 month low of $25.05 and a 12 month high of $68.41. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of -22.23 and a beta of 0.98. The business’s fifty day simple moving average is $33.06 and its two-hundred day simple moving average is $40.37. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.26.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The company had revenue of $99.40 million for the quarter, compared to analysts’ expectations of $98.70 million. Sprout Social had a negative net margin of 19.60% and a negative return on equity of 44.38%. Sprout Social’s revenue was up 25.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.23) EPS. As a group, equities analysts predict that Sprout Social will post -0.9 earnings per share for the current fiscal 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.