Sprout Social, Inc. (NASDAQ:SPT) Given Average Recommendation of “Hold” by Brokerages

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

Several equities research analysts have recently weighed in on the stock. Piper Sandler lowered their price target on shares of Sprout Social from $40.00 to $29.00 and set a “neutral” rating for the company in a research report on Monday, November 11th. Needham & Company LLC restated a “buy” rating and set a $55.00 target price on shares of Sprout Social in a report on Friday, November 8th. Oppenheimer cut their price target on Sprout Social from $43.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Scotiabank started coverage on Sprout Social in a research note on Monday, November 18th. They set a “sector perform” rating and a $28.00 price objective for the company. Finally, KeyCorp lowered Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 target price on the stock. in a research note on Thursday, August 22nd.

Sprout Social Stock Performance

SPT stock opened at $32.02 on Wednesday. Sprout Social has a twelve month low of $25.05 and a twelve month high of $68.41. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of -26.68 and a beta of 0.99. The business’s fifty day simple moving average is $28.82 and its two-hundred day simple moving average is $31.52. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19.

Sprout Social (NASDAQ:SPT) last issued its earnings results on Thursday, November 7th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. The company had revenue of $102.64 million during the quarter, compared to the consensus estimate of $102.04 million. Analysts predict that Sprout Social will post -0.98 earnings per share for the current year.

Insider Transactions at Sprout Social

In related news, insider Justyn Russell Howard sold 20,000 shares of Sprout Social 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 owns 7,417 shares in the company, valued at $209,381.91. The trade was a 72.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Ryan Paul Barretto sold 13,306 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $29.23, for a total value of $388,934.38. Following the transaction, the president now owns 470,809 shares in the company, valued at $13,761,747.07. This represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 62,882 shares of company stock worth $1,801,351 over the last quarter. 10.97% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sprout Social

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SPT. Arizona State Retirement System boosted its stake in Sprout Social by 3.9% during the 2nd quarter. Arizona State Retirement System now owns 13,934 shares of the company’s stock worth $497,000 after purchasing an additional 529 shares during the last quarter. Diversified Trust Co grew its stake in Sprout Social by 3.8% during the 3rd quarter. Diversified Trust Co now owns 15,770 shares of the company’s stock valued at $458,000 after acquiring an additional 571 shares in the last quarter. Lazard Asset Management LLC raised its holdings in 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 acquiring an additional 613 shares during the last quarter. EntryPoint Capital LLC purchased a new position in Sprout Social in the 1st quarter worth approximately $37,000. Finally, Truist Financial Corp boosted its holdings in shares of Sprout Social by 6.1% during the 2nd quarter. Truist Financial Corp now owns 11,260 shares of the company’s stock worth $402,000 after purchasing an additional 646 shares during the last quarter.

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.