Sprout Social, Inc. (NASDAQ:SPT) Given Consensus Rating of “Hold” by Brokerages

Sprout Social, Inc. (NASDAQ:SPT) has received a consensus recommendation of “Hold” from the fifteen research firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $45.46.

A number of analysts have recently weighed in on SPT shares. Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 price objective on shares of Sprout Social in a research report on Friday, November 8th. Barclays cut their price target on Sprout Social from $48.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Oppenheimer decreased their price objective on Sprout Social from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Tuesday, December 3rd. Piper Sandler cut their target price on shares of Sprout Social from $40.00 to $29.00 and set a “neutral” rating on the stock in a research note on Monday, November 11th. Finally, Scotiabank initiated 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 target for the company.

Sprout Social Stock Performance

Shares of Sprout Social stock opened at $32.45 on Friday. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of -27.04 and a beta of 1.03. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96. The business has a 50-day moving average of $30.19 and a 200 day moving average of $31.65. Sprout Social has a 12 month low of $25.05 and a 12 month high of $68.41.

Sprout Social (NASDAQ:SPT) last posted 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). Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. The business had revenue of $102.64 million during the quarter, compared to analysts’ expectations of $102.04 million. As a group, sell-side analysts forecast that Sprout Social will post -0.98 earnings per share for the current year.

Insider Activity at Sprout Social

In other Sprout Social news, Director Karen Walker sold 5,000 shares of the business’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 value of $171,200.00. Following the completion of the sale, the director now owns 35,665 shares in the company, valued at approximately $1,221,169.60. The trade was a 12.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Paul Barretto sold 13,465 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $31.45, for a total transaction of $423,474.25. Following the transaction, the chief executive officer now owns 546,343 shares in the company, valued at approximately $17,182,487.35. This trade represents a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,765 shares of company stock valued at $1,676,279 in the last ninety days. Insiders own 10.97% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Arizona State Retirement System boosted its stake in shares of Sprout Social by 3.9% during the second quarter. Arizona State Retirement System now owns 13,934 shares of the company’s stock worth $497,000 after buying an additional 529 shares during the period. Diversified Trust Co raised its stake in Sprout Social by 3.8% during the 3rd quarter. Diversified Trust Co now owns 15,770 shares of the company’s stock valued at $458,000 after acquiring an additional 571 shares during the last quarter. Truist Financial Corp lifted its position in Sprout Social by 6.1% during the 2nd quarter. Truist Financial Corp now owns 11,260 shares of the company’s stock worth $402,000 after acquiring an additional 646 shares during the period. Ensign Peak Advisors Inc grew its stake in shares of Sprout Social by 3.9% in the 2nd quarter. Ensign Peak Advisors Inc now owns 19,951 shares of the company’s stock valued at $712,000 after purchasing an additional 750 shares during the last quarter. Finally, Quarry LP increased its holdings in shares of Sprout Social by 2,346.9% in the second quarter. Quarry LP now owns 783 shares of the company’s stock valued at $28,000 after purchasing an additional 751 shares during the period.

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.