Analysts Set Sprout Social, Inc. (NASDAQ:SPT) PT at $39.58

Shares of Sprout Social, Inc. (NASDAQ:SPT) have been assigned a consensus recommendation of “Hold” from the fourteen ratings firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $39.58.

A number of analysts recently commented on SPT shares. Scotiabank started coverage on Sprout Social in a research note on Monday, November 18th. They issued a “sector perform” rating and a $28.00 price target for the company. Jefferies Financial Group raised their price target on shares of Sprout Social from $34.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Morgan Stanley upped their target price on shares of Sprout Social from $36.00 to $37.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Piper Sandler lowered their price target on Sprout Social from $40.00 to $29.00 and set a “neutral” rating on the stock in a report on Monday, November 11th. Finally, Oppenheimer cut their target price on shares of Sprout Social from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Tuesday, December 3rd.

Insider Activity

In other Sprout Social news, Director Karen Walker sold 5,000 shares of Sprout Social stock in a transaction on Friday, December 13th. The shares were sold at an average price of $34.24, for a total transaction of $171,200.00. Following the completion of the transaction, the director now directly owns 35,665 shares of the company’s stock, valued at $1,221,169.60. The trade was a 12.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Justyn Russell Howard sold 40,000 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $31.67, for a total transaction of $1,266,800.00. Following the transaction, the insider now owns 27,136 shares in the company, valued at $859,397.12. The trade was a 59.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 120,265 shares of company stock worth $3,837,006 over the last quarter. Insiders own 10.97% of the company’s stock.

Institutional Investors Weigh In On Sprout Social

Institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP grew its position in shares of 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 in the last quarter. US Bancorp DE raised its stake in Sprout Social by 2,392.6% in the fourth quarter. US Bancorp DE now owns 1,695 shares of the company’s stock valued at $52,000 after buying an additional 1,627 shares during the last quarter. KBC Group NV grew its position in Sprout Social by 77.1% during the 4th quarter. KBC Group NV now owns 2,525 shares of the company’s stock worth $78,000 after purchasing an additional 1,099 shares during the last quarter. Assetmark Inc. grew its holdings in shares of Sprout Social by 27.5% during the third quarter. Assetmark Inc. now owns 3,717 shares of the company’s stock valued at $108,000 after buying an additional 801 shares during the last quarter. Finally, Yarbrough Capital LLC acquired a new position in shares of Sprout Social in the fourth quarter valued at about $206,000.

Sprout Social Price Performance

Shares of NASDAQ:SPT opened at $33.50 on Monday. The company’s fifty day moving average price is $32.60 and its 200-day moving average price is $30.86. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of -27.92 and a beta of 1.06. Sprout Social has a one year low of $25.05 and a one year high of $67.33. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96.

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.