Sprout Social, Inc. (NASDAQ:SPT) Receives $51.31 Consensus Price Target from Brokerages

Sprout Social, Inc. (NASDAQ:SPT) has received a consensus rating of “Hold” from the fourteen ratings firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $48.25.

Several research firms recently issued reports on SPT. KeyCorp downgraded shares of Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 price target on the stock. in a research note on Thursday, August 22nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $46.00 price target on shares of Sprout Social in a research note on Friday, August 2nd. Robert W. Baird raised their price objective on Sprout Social from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Barclays dropped their price objective on Sprout Social from $48.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $55.00 target price on shares of Sprout Social in a research note on Friday, August 2nd.

Sprout Social Trading Down 1.6 %

NASDAQ:SPT opened at $28.45 on Tuesday. Sprout Social has a 12 month low of $25.05 and a 12 month high of $68.41. The business’s 50-day moving average is $29.76 and its two-hundred day moving average is $35.89. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market capitalization of $1.61 billion, a PE ratio of -22.76 and a beta of 0.97.

Sprout Social (NASDAQ:SPT) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01. Sprout Social had a negative return on equity of 44.38% and a negative net margin of 19.60%. The firm had revenue of $99.40 million for the quarter, compared to analyst estimates of $98.70 million. During the same period in the previous year, the company posted ($0.23) EPS. Sprout Social’s revenue for the quarter was up 25.3% on a year-over-year basis. Research analysts predict that Sprout Social will post -0.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Preto Joseph Del sold 1,500 shares of Sprout Social stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $31.02, for a total value of $46,530.00. Following the completion of the transaction, the chief financial officer now directly owns 164,124 shares of the company’s stock, valued at approximately $5,091,126.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Justyn Russell Howard sold 20,000 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $30.68, for a total value of $613,600.00. Following the sale, the chief executive officer now owns 310,812 shares of the company’s stock, valued at $9,535,712.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Preto Joseph Del sold 1,500 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $31.02, for a total transaction of $46,530.00. Following the transaction, the chief financial officer now directly owns 164,124 shares of the company’s stock, valued at $5,091,126.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 87,882 shares of company stock valued at $2,570,471. Company insiders own 10.97% of the company’s stock.

Institutional Investors Weigh In On Sprout Social

Several large investors have recently made changes to their positions in SPT. Dorsey Asset Management LLC bought a new position in Sprout Social in the 2nd quarter worth approximately $61,583,000. Jericho Capital Asset Management L.P. acquired a new position in shares of Sprout Social during the first quarter valued at $22,332,000. Allspring Global Investments Holdings LLC raised its stake in shares of Sprout Social by 98.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 664,970 shares of the company’s stock valued at $23,726,000 after purchasing an additional 330,309 shares in the last quarter. Millennium Management LLC lifted its holdings in Sprout Social by 9,779.5% in the second quarter. Millennium Management LLC now owns 331,260 shares of the company’s stock worth $11,819,000 after purchasing an additional 327,907 shares during the period. Finally, Jennison Associates LLC grew its position in Sprout Social by 17.0% in the 1st quarter. Jennison Associates LLC now owns 2,137,422 shares of the company’s stock valued at $127,625,000 after buying an additional 311,146 shares in the last quarter.

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.