Sprout Social, Inc. (NASDAQ:SPT) Receives $71.54 Consensus Target Price from Brokerages

Sprout Social, Inc. (NASDAQ:SPT) has received a consensus rating of “Moderate Buy” from the twelve research firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $72.57.

Several equities research analysts have recently issued reports on SPT shares. Barclays decreased their target price on Sprout Social from $75.00 to $72.00 and set an “overweight” rating for the company in a research report on Wednesday, February 21st. Piper Sandler increased their target price on shares of Sprout Social from $62.00 to $66.00 and gave the company an “overweight” rating in a research report on Wednesday, February 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $75.00 price target on shares of Sprout Social in a report on Tuesday. Oppenheimer started coverage on Sprout Social in a research note on Thursday. They issued an “outperform” rating and a $76.00 price objective on the stock. Finally, The Goldman Sachs Group raised their target price on Sprout Social from $65.00 to $81.00 and gave the stock a “buy” rating in a research report on Tuesday, January 23rd.

Insiders Place Their Bets

In other news, President Ryan Paul Barretto sold 5,600 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $59.63, for a total transaction of $333,928.00. Following the completion of the sale, the president now owns 209,375 shares of the company’s stock, valued at $12,485,031.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Sprout Social news, President Ryan Paul Barretto sold 5,600 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $59.63, for a total transaction of $333,928.00. Following the completion of the transaction, the president now owns 209,375 shares of the company’s stock, valued at approximately $12,485,031.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Justyn Russell Howard sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $58.36, for a total value of $2,334,400.00. Following the transaction, the chief executive officer now directly owns 287,912 shares in the company, valued at $16,802,544.32. The disclosure for this sale can be found here. Insiders sold 140,200 shares of company stock valued at $8,171,958 over the last three months. Insiders own 11.93% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SPT. Wasatch Advisors LP boosted its holdings in shares of Sprout Social by 2.5% during the 1st quarter. Wasatch Advisors LP now owns 1,765,591 shares of the company’s stock valued at $105,423,000 after buying an additional 43,262 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Sprout Social by 2.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 334,661 shares of the company’s stock worth $19,983,000 after purchasing an additional 7,194 shares during the period. Diversified Trust Co increased its stake in shares of Sprout Social by 6.4% during the first quarter. Diversified Trust Co now owns 14,207 shares of the company’s stock valued at $848,000 after purchasing an additional 852 shares in the last quarter. WoodTrust Financial Corp lifted its holdings in shares of Sprout Social by 6.7% during the first quarter. WoodTrust Financial Corp now owns 23,800 shares of the company’s stock valued at $1,421,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Moody National Bank Trust Division boosted its position in shares of Sprout Social by 2.8% in the 1st quarter. Moody National Bank Trust Division now owns 75,012 shares of the company’s stock worth $4,479,000 after purchasing an additional 2,043 shares in the last quarter.

Sprout Social Price Performance

Shares of SPT opened at $52.74 on Tuesday. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of -43.95 and a beta of 1.05. The business has a 50-day moving average of $59.34 and a 200-day moving average of $56.74. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.08 and a quick ratio of 1.08. Sprout Social has a 1 year low of $37.00 and a 1 year high of $68.41.

Sprout Social (NASDAQ:SPT) last posted its quarterly earnings results on Tuesday, February 20th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). Sprout Social had a negative return on equity of 41.25% and a negative net margin of 19.91%. The business had revenue of $93.58 million for the quarter, compared to the consensus estimate of $90.76 million. As a group, equities research analysts anticipate that Sprout Social will post -1.17 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.