Sprout Social, Inc. (NASDAQ:SPT) Receives Average Rating of “Hold” from Analysts

Sprout Social, Inc. (NASDAQ:SPT) has been given an average recommendation of “Hold” by the fourteen analysts that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $39.58.

Several equities analysts have weighed in on the company. Oppenheimer cut their price target on Sprout Social from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Tuesday, December 3rd. 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. Needham & Company LLC reiterated a “buy” rating and issued a $55.00 target price on shares of Sprout Social in a report on Wednesday, January 15th. Morgan Stanley lifted their target price on Sprout Social from $36.00 to $37.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Finally, Jefferies Financial Group lifted their target price on Sprout Social from $34.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, February 3rd.

Sprout Social Stock Performance

NASDAQ SPT opened at $30.97 on Monday. The stock has a market capitalization of $1.78 billion, a PE ratio of -25.81 and a beta of 1.06. The business has a 50 day simple moving average of $32.56 and a two-hundred day simple moving average of $30.82. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96. Sprout Social has a 1-year low of $25.05 and a 1-year high of $67.33.

Insider Buying and Selling

In other Sprout Social news, CEO Ryan Paul Barretto sold 13,465 shares of Sprout Social stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 546,343 shares of the company’s stock, valued at $17,182,487.35. The trade was a 2.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Justyn Russell Howard sold 40,000 shares of Sprout Social stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $31.67, for a total value of $1,266,800.00. Following the sale, the insider now directly owns 27,136 shares of the company’s stock, valued at approximately $859,397.12. This trade represents a 59.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 120,265 shares of company stock valued at $3,837,006. Insiders own 10.97% of the company’s stock.

Institutional Investors Weigh In On Sprout Social

A number of institutional investors and hedge funds have recently bought and sold shares of SPT. Quarry LP grew its stake in Sprout Social by 100.9% during the 3rd quarter. Quarry LP now owns 1,573 shares of the company’s stock worth $46,000 after buying an additional 790 shares during the last quarter. US Bancorp DE grew its stake in Sprout Social by 2,392.6% during the 4th quarter. US Bancorp DE now owns 1,695 shares of the company’s stock valued at $52,000 after purchasing an additional 1,627 shares during the last quarter. KBC Group NV grew its stake in Sprout Social by 77.1% during the 4th quarter. KBC Group NV now owns 2,525 shares of the company’s stock valued at $78,000 after purchasing an additional 1,099 shares during the last quarter. Assetmark Inc. grew its stake in Sprout Social by 27.5% during the 3rd quarter. Assetmark Inc. now owns 3,717 shares of the company’s stock valued at $108,000 after purchasing an additional 801 shares during the last quarter. Finally, Yarbrough Capital LLC acquired a new position in shares of Sprout Social in the 4th quarter valued at about $206,000.

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.