Sprout Social, Inc. (NASDAQ:SPT) Receives $45.46 Average PT from Brokerages

Sprout Social, Inc. (NASDAQ:SPT) has been assigned a consensus recommendation of “Hold” from the fifteen research firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $45.46.

SPT has been the subject of several analyst reports. Piper Sandler dropped their target price on Sprout Social from $40.00 to $29.00 and set a “neutral” rating for the company in a report on Monday, November 11th. Scotiabank started coverage on Sprout Social in a research note on Monday, November 18th. They issued a “sector perform” rating and a $28.00 target price on the stock. Barclays reduced their price target on shares of Sprout Social from $48.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. Oppenheimer reduced their target price on shares of Sprout Social from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 3rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $55.00 target price on shares of Sprout Social in a report on Friday, November 8th.

Sprout Social Stock Down 1.4 %

SPT opened at $31.95 on Friday. The company has a 50 day moving average of $30.47 and a 200 day moving average of $31.61. The company has a market cap of $1.83 billion, a PE ratio of -26.62 and a beta of 1.03. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19. Sprout Social has a 12 month low of $25.05 and a 12 month high of $68.41.

Sprout Social (NASDAQ:SPT) last announced its earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). The business had revenue of $102.64 million during the quarter, compared to the consensus estimate of $102.04 million. Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. On average, sell-side analysts expect that Sprout Social will post -0.98 EPS for the current year.

Insider Buying and Selling

In other news, Director Karen Walker sold 5,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $34.24, for a total transaction of $171,200.00. Following the transaction, the director now owns 35,665 shares in the company, valued at $1,221,169.60. This represents a 12.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Justyn Russell Howard sold 20,000 shares of Sprout Social stock in a transaction on Monday, October 7th. The stock was sold at an average price of $28.23, for a total transaction of $564,600.00. Following the sale, the insider now owns 7,417 shares of the company’s stock, valued at $209,381.91. The trade was a 72.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,765 shares of company stock valued at $1,676,279 over the last three months. 10.97% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SPT. JPMorgan Chase & Co. boosted its position in Sprout Social by 324.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 402,947 shares of the company’s stock worth $11,714,000 after purchasing an additional 307,906 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Sprout Social by 20.0% during the third quarter. Principal Financial Group Inc. now owns 1,199,451 shares of the company’s stock valued at $34,868,000 after purchasing an additional 200,190 shares in the last quarter. Franklin Resources Inc. increased its stake in Sprout Social by 5.4% during the 3rd quarter. Franklin Resources Inc. now owns 20,256 shares of the company’s stock worth $576,000 after buying an additional 1,034 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in Sprout Social by 3.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 98,204 shares of the company’s stock worth $2,855,000 after purchasing an additional 3,344 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Sprout Social by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,175,538 shares of the company’s stock valued at $34,179,000 after acquiring an additional 22,320 shares during the last quarter.

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.