Analysts Set Sprout Social, Inc. (NASDAQ:SPT) Price Target at $33.85

Sprout Social, Inc. (NASDAQ:SPT) has been assigned an average rating of “Hold” from the fifteen brokerages that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $33.85.

Several brokerages recently weighed in on SPT. Needham & Company LLC decreased 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. Piper Sandler reduced their price objective on Sprout Social from $29.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Canaccord Genuity Group dropped their target price on shares of Sprout Social from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Scotiabank cut their target price on shares of Sprout Social from $28.00 to $25.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. Finally, Morgan Stanley decreased their price target on shares of Sprout Social from $37.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th.

Insider Activity at Sprout Social

In other Sprout Social news, insider Justyn Russell Howard sold 40,000 shares of Sprout Social stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $31.67, for a total transaction of $1,266,800.00. Following the completion of the transaction, the insider now directly owns 27,136 shares of the company’s stock, valued at approximately $859,397.12. This trade represents a 59.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Aaron Edward Frederick Rankin sold 23,646 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $24.58, for a total transaction of $581,218.68. Following the completion of the sale, the director now owns 42,122 shares in the company, valued at $1,035,358.76. This represents a 35.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 108,646 shares of company stock valued at $3,302,919 over the last quarter. 10.97% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sprout Social

Several institutional investors have recently added to or reduced their stakes in SPT. Versant Capital Management Inc increased its holdings in Sprout Social by 1,319.4% during the 1st quarter. Versant Capital Management Inc now owns 1,462 shares of the company’s stock valued at $32,000 after purchasing an additional 1,359 shares in the last quarter. Quarry LP grew its holdings in shares of Sprout Social by 100.9% during the third 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 increased its stake in shares of Sprout Social by 2,392.6% in the fourth quarter. US Bancorp DE now owns 1,695 shares of the company’s stock valued at $52,000 after buying an additional 1,627 shares in the last quarter. KBC Group NV raised its holdings in shares of Sprout Social by 77.1% in the fourth quarter. KBC Group NV now owns 2,525 shares of the company’s stock valued at $78,000 after buying an additional 1,099 shares during the last quarter. Finally, Yarbrough Capital LLC acquired a new position in Sprout Social during the 4th quarter worth about $206,000.

Sprout Social Price Performance

Shares of Sprout Social stock opened at $20.22 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19. The firm has a fifty day simple moving average of $27.62 and a 200-day simple moving average of $29.39. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of -16.85 and a beta of 1.11. Sprout Social has a 1-year low of $19.21 and a 1-year high of $59.04.

Sprout Social (NASDAQ:SPT) last released its earnings results on Tuesday, February 25th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates 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%. On average, sell-side analysts expect that Sprout Social will post -0.99 earnings per share for the current year.

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.