Brokerages Set Sprout Social, Inc. (NASDAQ:SPT) Target Price at $48.00

Sprout Social, Inc. (NASDAQ:SPT) has been assigned a consensus rating of “Hold” from the fourteen brokerages that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $48.00.

Several analysts have recently commented on the stock. Robert W. Baird increased their price target on shares of Sprout Social from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $46.00 price objective on shares of Sprout Social in a research report on Friday, August 2nd. Barclays dropped their target price on Sprout Social from $48.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Oppenheimer decreased their price target on Sprout Social from $43.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, Needham & Company LLC reissued a “buy” rating and set a $55.00 price objective on shares of Sprout Social in a report on Friday, August 2nd.

Insider Activity

In other news, Director Aaron Edward Frederick Rankin sold 1,181 shares of the business’s stock in a transaction 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 completion of the transaction, the director now owns 42,122 shares of the company’s stock, valued at $1,231,226.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Sprout Social news, CEO Ryan Paul Barretto sold 16,800 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $28.25, for a total transaction of $474,600.00. Following the sale, the chief executive officer now directly owns 170,175 shares in the company, valued at approximately $4,807,443.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Aaron Edward Frederick Rankin sold 1,181 shares of the company’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 transaction of $34,520.63. Following the completion of the transaction, the director now owns 42,122 shares of the company’s stock, valued at $1,231,226.06. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,382 shares of company stock valued at $1,910,341 in the last ninety days. 10.97% of the stock is owned by insiders.

Institutional Investors Weigh In On Sprout Social

Several institutional investors have recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC acquired a new position in Sprout Social during the 1st quarter worth approximately $27,000. Quarry LP boosted its holdings in 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 purchasing an additional 751 shares during the last quarter. EntryPoint Capital LLC bought a new position in Sprout Social in the first quarter valued at $37,000. Covestor Ltd increased its stake in Sprout Social by 35,450.0% in the 1st quarter. Covestor Ltd now owns 711 shares of the company’s stock valued at $42,000 after buying an additional 709 shares during the last quarter. Finally, Bessemer Group Inc. acquired a new stake in Sprout Social in the 1st quarter valued at $61,000.

Sprout Social Stock Up 2.3 %

Shares of NASDAQ SPT opened at $27.59 on Friday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.26. The company has a market cap of $1.57 billion, a price-to-earnings ratio of -21.06 and a beta of 0.99. Sprout Social has a 12-month low of $25.05 and a 12-month high of $68.41. The firm’s 50-day simple moving average is $28.36 and its 200 day simple moving average is $32.90.

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.