Sprout Social, Inc. (NASDAQ:SPT) Receives $30.00 Average Target Price from Analysts

Sprout Social, Inc. (NASDAQ:SPTGet Free Report) has been given an average recommendation of “Hold” by the thirteen research firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $30.00.

Several brokerages have weighed in on SPT. Piper Sandler lowered their target price on Sprout Social from $29.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Canaccord Genuity Group reduced their price objective on shares of Sprout Social from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Stifel Nicolaus reduced their price target on Sprout Social from $45.00 to $34.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Needham & Company LLC reissued a “buy” rating and issued a $32.00 target price on shares of Sprout Social in a report on Wednesday, May 28th. Finally, Oppenheimer reduced their price objective on shares of Sprout Social from $38.00 to $32.00 and set an “outperform” rating for the company in a research note on Friday, May 9th.

Read Our Latest Report on SPT

Sprout Social Stock Performance

Shares of SPT stock opened at $20.55 on Friday. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of -19.76 and a beta of 1.04. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.97 and a current ratio of 0.97. Sprout Social has a 1 year low of $18.52 and a 1 year high of $39.75. The stock’s 50-day moving average is $21.36 and its two-hundred day moving average is $26.55.

Sprout Social (NASDAQ:SPTGet Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.07. The business had revenue of $109.29 million for the quarter, compared to analysts’ expectations of $107.63 million. Sprout Social had a negative net margin of 14.25% and a negative return on equity of 31.03%. The company’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 EPS. Analysts predict that Sprout Social will post -0.99 earnings per share for the current year.

Insider Activity at Sprout Social

In other Sprout Social news, Director Karen Walker sold 5,000 shares of Sprout Social stock in a transaction on Monday, April 14th. The shares were sold at an average price of $19.42, for a total value of $97,100.00. Following the transaction, the director now owns 25,665 shares in the company, valued at $498,414.30. This trade represents a 16.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Justyn Russell Howard sold 40,000 shares of the stock in a transaction on Friday, April 4th. The stock was sold at an average price of $19.99, for a total value of $799,600.00. Following the completion of the transaction, the insider now directly owns 7,417 shares in the company, valued at $148,265.83. This trade represents a 84.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 152,375 shares of company stock valued at $3,157,417 over the last quarter. Insiders own 10.12% of the company’s stock.

Hedge Funds Weigh In On Sprout Social

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Sprout Social by 0.3% in the first quarter. Vanguard Group Inc. now owns 5,900,938 shares of the company’s stock valued at $129,762,000 after purchasing an additional 14,771 shares during the period. Cadian Capital Management LP grew its stake in shares of Sprout Social by 6.1% in the fourth quarter. Cadian Capital Management LP now owns 4,548,323 shares of the company’s stock valued at $139,679,000 after buying an additional 263,267 shares in the last quarter. Dorsey Asset Management LLC raised its holdings in shares of Sprout Social by 16.7% during the 4th quarter. Dorsey Asset Management LLC now owns 2,306,149 shares of the company’s stock valued at $70,822,000 after buying an additional 330,155 shares during the period. Jennison Associates LLC lifted its position in Sprout Social by 1.3% during the 1st quarter. Jennison Associates LLC now owns 2,200,443 shares of the company’s stock worth $48,388,000 after acquiring an additional 28,876 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC lifted its position in Sprout Social by 380.7% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,772,219 shares of the company’s stock worth $54,425,000 after acquiring an additional 1,403,549 shares in the last quarter.

Sprout Social Company Profile

(Get Free Report

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.

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Analyst Recommendations for Sprout Social (NASDAQ:SPT)

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