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

Sprout Social, Inc. (NASDAQ:SPT) has received an average recommendation of “Hold” from the fifteen analysts that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $33.85.

SPT has been the topic of several research analyst reports. Piper Sandler decreased their target price on shares of Sprout Social from $29.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Oppenheimer reduced their target price on Sprout Social from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Tuesday, December 3rd. Barclays reduced their price objective on Sprout Social from $38.00 to $34.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Needham & Company LLC cut their target price on shares of Sprout Social from $55.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Finally, Canaccord Genuity Group lowered their price target on Sprout Social from $40.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, February 26th.

Sprout Social Trading Down 4.3 %

Shares of SPT stock opened at $25.56 on Friday. Sprout Social has a twelve month low of $25.05 and a twelve month high of $62.34. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of -21.30 and a beta of 1.11. The firm has a 50-day moving average price of $31.05 and a 200 day moving average price of $30.32. 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 (NASDAQ:SPT) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.35). Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. The business had revenue of $107.09 million during the quarter, compared to analyst estimates of $106.74 million. Research analysts forecast that Sprout Social will post -0.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Karen Walker sold 5,000 shares of Sprout Social stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $30.26, for a total value of $151,300.00. Following the completion of the transaction, the director now directly owns 30,665 shares of the company’s stock, valued at approximately $927,922.90. The trade was a 14.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Paul Barretto sold 16,800 shares of the stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $30.99, for a total transaction of $520,632.00. Following the sale, the chief executive officer now owns 153,375 shares in the company, valued at approximately $4,753,091.25. This trade represents a 9.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 106,800 shares of company stock valued at $3,413,532 in the last ninety days. Corporate insiders own 10.97% of the company’s stock.

Institutional Trading of Sprout Social

Institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its position in Sprout Social by 324.0% in the third quarter. JPMorgan Chase & Co. now owns 402,947 shares of the company’s stock worth $11,714,000 after buying an additional 307,906 shares during the period. Principal Financial Group Inc. boosted its stake in Sprout Social by 20.0% during the 3rd 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 during the period. M&T Bank Corp acquired a new position in Sprout Social during the 3rd quarter valued at about $1,074,000. Zacks Investment Management bought a new position in Sprout Social in the 3rd quarter worth about $2,120,000. Finally, Geode Capital Management LLC increased its stake in shares of Sprout Social by 1.9% in the third quarter. Geode Capital Management LLC now owns 1,175,538 shares of the company’s stock valued at $34,179,000 after purchasing an additional 22,320 shares during the period.

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.