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

Sprout Social, Inc. (NASDAQ:SPT) has been assigned a consensus rating of “Moderate Buy” from the eleven research firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $71.54.

Several research firms have issued reports on SPT. KeyCorp assumed coverage on shares of Sprout Social in a research note on Thursday, March 21st. They set an “overweight” rating and a $83.00 target price on the stock. The Goldman Sachs Group boosted their target price on shares of Sprout Social from $65.00 to $81.00 and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Jefferies Financial Group started coverage on Sprout Social in a research note on Wednesday, February 7th. They issued a “buy” rating and a $76.00 price target on the stock. Canaccord Genuity Group reiterated a “buy” rating and set a $70.00 price objective on shares of Sprout Social in a research report on Wednesday, February 21st. Finally, Barclays dropped their target price on Sprout Social from $75.00 to $72.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 21st.

Insiders Place Their Bets

In other Sprout Social news, CEO Justyn Russell Howard sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $58.36, for a total value of $2,334,400.00. Following the completion of the transaction, the chief executive officer now directly owns 287,912 shares in the company, valued at $16,802,544.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Preto Joseph Del sold 1,500 shares of Sprout Social stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $62.11, for a total transaction of $93,165.00. Following the sale, the chief financial officer now owns 128,822 shares of the company’s stock, valued at approximately $8,001,134.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Justyn Russell Howard sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $58.36, for a total value of $2,334,400.00. Following the completion of the transaction, the chief executive officer now directly owns 287,912 shares in the company, valued at $16,802,544.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 162,200 shares of company stock worth $9,414,346. Company insiders own 11.93% of the company’s stock.

Institutional Investors Weigh In On Sprout Social

Several institutional investors and hedge funds have recently modified their holdings of SPT. Advisors Asset Management Inc. increased its holdings in Sprout Social by 21.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,087 shares of the company’s stock valued at $54,000 after acquiring an additional 190 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Sprout Social by 1.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 18,585 shares of the company’s stock worth $1,049,000 after purchasing an additional 192 shares during the last quarter. Atria Wealth Solutions Inc. lifted its position in shares of Sprout Social by 4.7% in the third quarter. Atria Wealth Solutions Inc. now owns 4,654 shares of the company’s stock worth $232,000 after buying an additional 208 shares in the last quarter. Arcadia Investment Management Corp MI boosted its stake in Sprout Social by 40.3% during the third quarter. Arcadia Investment Management Corp MI now owns 766 shares of the company’s stock valued at $38,000 after buying an additional 220 shares during the last quarter. Finally, Verdence Capital Advisors LLC grew its holdings in Sprout Social by 3.2% during the 4th quarter. Verdence Capital Advisors LLC now owns 7,345 shares of the company’s stock valued at $451,000 after buying an additional 225 shares in the last quarter.

Sprout Social Trading Down 0.6 %

NASDAQ:SPT opened at $59.71 on Friday. Sprout Social has a 52 week low of $37.00 and a 52 week high of $68.41. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of -49.76 and a beta of 1.06. The company’s 50 day moving average price is $61.35 and its 200-day moving average price is $56.07. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.38.

Sprout Social (NASDAQ:SPT) last posted its earnings results on Tuesday, February 20th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). The business had revenue of $93.58 million during the quarter, compared to the consensus estimate of $90.76 million. Sprout Social had a negative return on equity of 41.25% and a negative net margin of 19.91%. On average, equities research analysts forecast that Sprout Social will post -1.17 earnings per share for the current fiscal year.

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.