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

Sprout Social, Inc. (NASDAQ:SPT) has been given an average rating of “Hold” by the fifteen analysts that are presently covering the company, Marketbeat Ratings reports. One 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 price objective among analysts that have covered the stock in the last year is $45.46.

Several analysts have recently commented on the company. Barclays decreased their target price on Sprout Social from $48.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Piper Sandler cut their price target on shares of Sprout Social from $40.00 to $29.00 and set a “neutral” rating on the stock in a report on Monday, November 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Sprout Social in a research note on Friday, November 8th. Scotiabank assumed coverage on shares of Sprout Social in a report on Monday, November 18th. They set a “sector perform” rating and a $28.00 price objective for the company. Finally, Oppenheimer lowered their price objective on shares of Sprout Social from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 3rd.

Insider Activity at Sprout Social

In other Sprout Social news, insider Justyn Russell Howard sold 20,000 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $28.23, for a total value of $564,600.00. Following the completion of the transaction, the insider now directly owns 7,417 shares in the company, valued at approximately $209,381.91. This trade represents a 72.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Paul Barretto sold 16,800 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $28.25, for a total transaction of $474,600.00. Following the sale, the chief executive officer now directly owns 170,175 shares in the company, valued at $4,807,443.75. The trade was a 8.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,765 shares of company stock worth $1,676,279 in the last ninety days. 10.97% of the stock is owned by company insiders.

Institutional Trading of Sprout Social

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dorsey Asset Management LLC bought a new position in shares of Sprout Social during the 2nd quarter worth approximately $61,583,000. Wellington Management Group LLP boosted its holdings in Sprout Social by 16.0% in the third quarter. Wellington Management Group LLP now owns 3,762,443 shares of the company’s stock worth $109,374,000 after acquiring an additional 519,406 shares in the last quarter. ArrowMark Colorado Holdings LLC acquired a new position in Sprout Social during the third quarter worth $10,717,000. Allspring Global Investments Holdings LLC lifted its position in Sprout Social by 98.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 664,970 shares of the company’s stock valued at $23,726,000 after acquiring an additional 330,309 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in Sprout Social by 9,779.5% during the second quarter. Millennium Management LLC now owns 331,260 shares of the company’s stock worth $11,819,000 after buying an additional 327,907 shares in the last quarter.

Sprout Social Stock Performance

SPT opened at $31.95 on Friday. Sprout Social has a twelve month low of $25.05 and a twelve month high of $68.41. The stock has a market cap of $1.83 billion, a PE ratio of -26.62 and a beta of 1.03. The business’s 50 day moving average is $30.47 and its 200-day moving average is $31.61. 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 announced its earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share 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 firm had revenue of $102.64 million for the quarter, compared to the consensus estimate of $102.04 million. On average, analysts predict that Sprout Social will post -0.98 earnings per share for the current year.

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.