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

Shares of Sprout Social, Inc. (NASDAQ:SPT) have been assigned a consensus rating of “Hold” from the fifteen research firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $45.62.

Several equities analysts have commented on SPT shares. Needham & Company LLC reiterated a “buy” rating and issued a $55.00 target price on shares of Sprout Social in a research report on Friday, November 8th. Robert W. Baird lifted their target price on shares of Sprout Social from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $46.00 target price on shares of Sprout Social in a report on Friday, August 2nd. Scotiabank initiated coverage on shares of Sprout Social in a research note on Monday, November 18th. They set a “sector perform” rating and a $28.00 price target for the company. Finally, Piper Sandler reduced their price objective 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.

Sprout Social Price Performance

Shares of NASDAQ:SPT opened at $32.60 on Wednesday. The firm has a 50 day moving average of $28.64 and a 200-day moving average of $31.46. Sprout Social has a 12 month low of $25.05 and a 12 month high of $68.41. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $1.87 billion, a PE ratio of -27.17 and a beta of 0.99.

Sprout Social (NASDAQ:SPT) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share (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 the consensus estimate of $102.04 million. On average, equities research analysts predict that Sprout Social will post -0.98 EPS for the current fiscal year.

Insider Activity at Sprout Social

In other news, CFO Preto Joseph Del sold 1,500 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $28.27, for a total transaction of $42,405.00. Following the completion of the transaction, the chief financial officer now owns 158,614 shares in the company, valued at approximately $4,484,017.78. This represents a 0.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Justyn Russell Howard sold 8,595 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $29.27, for a total transaction of $251,575.65. Following the sale, the chief executive officer now directly owns 302,217 shares in the company, valued at approximately $8,845,891.59. This trade represents a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 62,882 shares of company stock worth $1,801,351. 10.97% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. EntryPoint Capital LLC purchased a new position in shares of Sprout Social during the 1st quarter valued at about $37,000. Quarry LP raised its stake in shares of 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 acquiring an additional 751 shares in the last quarter. Bessemer Group Inc. bought a new stake in shares of Sprout Social in the 1st quarter worth approximately $61,000. Lazard Asset Management LLC boosted its stake in shares of Sprout Social by 49.0% in the 1st quarter. Lazard Asset Management LLC now owns 1,863 shares of the company’s stock valued at $111,000 after purchasing an additional 613 shares in the last quarter. Finally, nVerses Capital LLC grew its holdings in shares of Sprout Social by 76.5% during the 2nd quarter. nVerses Capital LLC now owns 3,000 shares of the company’s stock valued at $107,000 after purchasing an additional 1,300 shares during the last quarter.

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.