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

Shares of Sprout Social, Inc. (NASDAQ:SPT) have received an average rating of “Hold” from the fifteen analysts that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $45.46.

A number of research analysts have weighed in on the stock. Oppenheimer cut their price objective on shares of 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 cut their price target on Sprout Social from $40.00 to $29.00 and set a “neutral” rating for the company in a research note on Monday, November 11th. Needham & Company LLC reiterated a “buy” rating and set a $55.00 price target on shares of Sprout Social in a research report on Friday, November 8th. Scotiabank assumed coverage on Sprout Social in a report on Monday, November 18th. They issued a “sector perform” rating and a $28.00 price objective on the stock. Finally, Barclays reduced their target price on Sprout Social from $48.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, October 11th.

Insider Transactions at Sprout Social

In other news, 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 transaction, the insider now owns 7,417 shares in the company, valued at $209,381.91. The trade was a 72.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Preto Joseph Del sold 1,500 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $28.27, for a total transaction of $42,405.00. Following the transaction, the chief financial officer now directly owns 158,614 shares in the company, valued at approximately $4,484,017.78. The trade was a 0.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,765 shares of company stock worth $1,676,279 in the last ninety days. Insiders own 10.97% of the company’s stock.

Institutional Trading of Sprout Social

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Arizona State Retirement System raised its holdings in Sprout Social by 3.9% in the 2nd quarter. Arizona State Retirement System now owns 13,934 shares of the company’s stock valued at $497,000 after buying an additional 529 shares during the period. Diversified Trust Co increased its position in shares of Sprout Social by 3.8% during the third 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 raised its stake in shares of Sprout Social by 6.1% in the 2nd quarter. Truist Financial Corp now owns 11,260 shares of the company’s stock valued at $402,000 after acquiring an additional 646 shares during the period. Ensign Peak Advisors Inc lifted its holdings 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 worth $712,000 after acquiring an additional 750 shares during the last quarter. Finally, Quarry LP boosted its position in shares of Sprout Social by 2,346.9% during the 2nd quarter. Quarry LP now owns 783 shares of the company’s stock worth $28,000 after purchasing an additional 751 shares during the period.

Sprout Social Trading Up 0.3 %

Shares of Sprout Social stock opened at $32.45 on Friday. The stock has a market cap of $1.86 billion, a PE ratio of -27.04 and a beta of 1.03. The firm has a fifty day moving average price of $30.19 and a 200 day moving average price of $31.65. Sprout Social has a 1 year low of $25.05 and a 1 year high of $68.41. 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 (NASDAQ:SPT) last released its quarterly earnings data 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). Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. The company had revenue of $102.64 million for the quarter, compared to analysts’ expectations of $102.04 million. Equities research analysts predict that Sprout Social will post -0.98 earnings per share for the current year.

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.