Analysts Set Sprout Social, Inc. (NASDAQ:SPT) Price Target at $27.36

Shares of Sprout Social, Inc. (NASDAQ:SPT) have received an average rating of “Moderate Buy” from the twelve brokerages that are currently covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $27.3636.

A number of analysts recently issued reports on SPT shares. The Goldman Sachs Group decreased their price objective on shares of Sprout Social from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Thursday, August 7th. Cantor Fitzgerald restated a “neutral” rating and issued a $24.00 target price on shares of Sprout Social in a research note on Tuesday, June 3rd. Oppenheimer cut their price objective on Sprout Social from $32.00 to $23.00 and set an “outperform” rating for the company in a report on Thursday, August 7th. Zacks Research downgraded shares of Sprout Social from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. Finally, Canaccord Genuity Group cut their price target on shares of Sprout Social from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, August 7th.

Sprout Social Price Performance

Sprout Social stock opened at $14.04 on Tuesday. Sprout Social has a 12 month low of $13.33 and a 12 month high of $36.30. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $825.69 million, a PE ratio of -14.78 and a beta of 0.86. The stock has a 50-day moving average price of $15.50 and a two-hundred day moving average price of $19.35.

Sprout Social (NASDAQ:SPT) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.03. The company had revenue of $111.78 million during the quarter, compared to the consensus estimate of $110.93 million. Sprout Social had a negative return on equity of 25.95% and a negative net margin of 12.70%.The firm’s revenue was up 12.5% compared to the same quarter last year. During the same period last year, the company earned $0.09 earnings per share. Analysts expect that Sprout Social will post -0.99 EPS for the current year.

Insider Buying and Selling

In related news, insider Justyn Russell Howard sold 40,000 shares of the stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $21.12, for a total value of $844,800.00. Following the transaction, the insider owned 7,417 shares of the company’s stock, valued at $156,647.04. This represents a 84.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Karen Walker sold 5,000 shares of the stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $19.05, for a total value of $95,250.00. Following the transaction, the director owned 28,963 shares in the company, valued at $551,745.15. This trade represents a 14.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,366 shares of company stock worth $1,754,519. Corporate insiders own 10.12% of the company’s stock.

Institutional Trading of Sprout Social

A number of institutional investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC increased its stake in Sprout Social by 739.6% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 714,089 shares of the company’s stock valued at $14,932,000 after purchasing an additional 629,033 shares in the last quarter. Nuveen LLC bought a new position in Sprout Social in the 1st quarter valued at approximately $13,131,000. Norges Bank purchased a new stake in Sprout Social during the 2nd quarter valued at $10,694,000. Canada Pension Plan Investment Board increased its holdings in shares of Sprout Social by 20,382.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 471,087 shares of the company’s stock worth $9,850,000 after purchasing an additional 468,787 shares in the last quarter. Finally, Federated Hermes Inc. raised its stake in shares of Sprout Social by 182.3% in the second quarter. Federated Hermes Inc. now owns 687,234 shares of the company’s stock worth $14,370,000 after purchasing an additional 443,774 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.