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Sprout Social, Inc. (NASDAQ:SPT) Receives Average Rating of "Moderate Buy" From Analysts

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Sprout Social, Inc. (NASDAQ:SPT – Get Rating) has earned an average rating of "Moderate Buy" from the twelve brokerages that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $96.00.

A number of research analysts have commented on SPT shares. Barclays decreased their price target on Sprout Social to $66.00 in a research note on Tuesday, August 9th. Piper Sandler decreased their price target on Sprout Social from $76.00 to $70.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 3rd. Robert W. Baird decreased their price target on Sprout Social to $76.00 in a research note on Tuesday, August 9th. Morgan Stanley decreased their price target on Sprout Social from $70.00 to $66.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 14th. Finally, Canaccord Genuity Group decreased their price target on Sprout Social from $75.00 to $65.00 and set a "buy" rating on the stock in a research note on Thursday, August 4th.

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Insider Buying and Selling at Sprout Social

In other Sprout Social news, Director William Thomas Stanley sold 900 shares of the firm's stock in a transaction on Monday, August 15th. The stock was sold at an average price of $65.81, for a total value of $59,229.00. Following the sale, the director now directly owns 5,842 shares in the company, valued at $384,462.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Sprout Social news, President Ryan Paul Barretto sold 5,600 shares of the firm's stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $60.90, for a total transaction of $341,040.00. Following the transaction, the president now owns 347,109 shares of the company's stock, valued at $21,138,938.10. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William Thomas Stanley sold 900 shares of the firm's stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $65.81, for a total value of $59,229.00. Following the transaction, the director now directly owns 5,842 shares in the company, valued at approximately $384,462.02. The disclosure for this sale can be found here. Insiders have sold a total of 61,468 shares of company stock worth $3,753,343 over the last ninety days. Corporate insiders own 13.33% of the company's stock.

Hedge Funds Weigh In On Sprout Social

Several hedge funds have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its holdings in shares of Sprout Social by 0.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 32,341 shares of the company's stock worth $1,878,000 after purchasing an additional 163 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Sprout Social by 7.8% during the second quarter. Advisors Asset Management Inc. now owns 2,432 shares of the company's stock worth $141,000 after buying an additional 175 shares during the last quarter. CWM LLC grew its holdings in shares of Sprout Social by 109.1% during the second quarter. CWM LLC now owns 485 shares of the company's stock worth $28,000 after buying an additional 253 shares during the last quarter. Harbor Investment Advisory LLC grew its holdings in shares of Sprout Social by 32.9% during the first quarter. Harbor Investment Advisory LLC now owns 1,091 shares of the company's stock worth $87,000 after buying an additional 270 shares during the last quarter. Finally, Assetmark Inc. grew its holdings in shares of Sprout Social by 138.9% during the second quarter. Assetmark Inc. now owns 497 shares of the company's stock worth $29,000 after buying an additional 289 shares during the last quarter. Hedge funds and other institutional investors own 92.94% of the company's stock.

Sprout Social Price Performance

SPT stock opened at $65.16 on Monday. The business has a 50 day simple moving average of $59.42 and a 200-day simple moving average of $60.74. The firm has a market capitalization of $3.55 billion, a PE ratio of -85.74 and a beta of 1.03. Sprout Social has a 1 year low of $38.39 and a 1 year high of $145.42.

Sprout Social (NASDAQ:SPT – Get Rating) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.06). The business had revenue of $61.43 million during the quarter, compared to analysts' expectations of $60.26 million. Sprout Social had a negative return on equity of 28.60% and a negative net margin of 18.65%. On average, equities research analysts expect that Sprout Social will post -0.9 EPS for the current year.

Sprout Social Company Profile

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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. It provides cloud software that brings together social messaging, data, and workflows in a unified system of record, intelligence, and action.

Further Reading

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