Sprout Social, Inc. (NASDAQ:SPT) Receives $33.85 Average Price Target from Brokerages

Sprout Social, Inc. (NASDAQ:SPT) has been assigned a consensus recommendation of “Hold” from the fifteen brokerages that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $33.85.

Several equities research analysts have recently weighed in on SPT shares. Stifel Nicolaus decreased their target price on Sprout Social from $45.00 to $34.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Jefferies Financial Group increased their target price on Sprout Social from $34.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Piper Sandler lowered their target price on Sprout Social from $29.00 to $27.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Needham & Company LLC lowered their target price on Sprout Social from $55.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Finally, Barclays lowered their target price on Sprout Social from $38.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th.

Sprout Social Stock Performance

Sprout Social stock opened at $23.43 on Friday. The firm has a market capitalization of $1.34 billion, a P/E ratio of -19.52 and a beta of 1.11. The stock has a fifty day moving average price of $30.61 and a 200 day moving average price of $30.07. Sprout Social has a 52 week low of $22.95 and a 52 week high of $62.34. 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 quarterly earnings results on Tuesday, February 25th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.15 by ($0.35). The firm had revenue of $107.09 million for the quarter, compared to analyst estimates of $106.74 million. Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. Equities research analysts anticipate that Sprout Social will post -0.99 earnings per share for the current year.

Insider Buying and Selling at Sprout Social

In other news, Director Karen Walker sold 5,000 shares of Sprout Social stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $34.24, for a total value of $171,200.00. Following the completion of the transaction, the director now owns 35,665 shares in the company, valued at approximately $1,221,169.60. This trade represents a 12.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Justyn Russell Howard sold 40,000 shares of Sprout Social stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $31.67, for a total value of $1,266,800.00. Following the completion of the transaction, the insider now owns 27,136 shares of the company’s stock, valued at approximately $859,397.12. The trade was a 59.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 106,800 shares of company stock worth $3,413,532 in the last 90 days. 10.97% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Quarry LP lifted its holdings in shares of Sprout Social by 100.9% in the 3rd quarter. Quarry LP now owns 1,573 shares of the company’s stock worth $46,000 after purchasing an additional 790 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Sprout Social by 2,392.6% in the 4th quarter. US Bancorp DE now owns 1,695 shares of the company’s stock worth $52,000 after purchasing an additional 1,627 shares during the last quarter. KBC Group NV lifted its holdings in shares of Sprout Social by 77.1% in 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. lifted its holdings in shares of Sprout Social by 27.5% in the 3rd quarter. Assetmark Inc. now owns 3,717 shares of the company’s stock worth $108,000 after purchasing an additional 801 shares during the last quarter. Finally, Yarbrough Capital LLC bought a new stake in shares of Sprout Social in the 4th quarter worth approximately $206,000.

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.