Brokerages Set Sprout Social, Inc. (NASDAQ:SPT) Target Price at $56.57

Sprout Social, Inc. (NASDAQ:SPT) has received a consensus recommendation of “Moderate Buy” from the fifteen analysts that are currently covering the firm, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $56.57.

Several research firms have commented on SPT. Cantor Fitzgerald decreased their price target on shares of Sprout Social from $74.00 to $46.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Sprout Social in a research report on Friday, June 7th. The Goldman Sachs Group lowered shares of Sprout Social from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $80.00 to $44.00 in a research report on Friday, May 3rd. William Blair reaffirmed a “market perform” rating on shares of Sprout Social in a research report on Friday, May 3rd. Finally, KeyCorp lowered shares of Sprout Social from an “overweight” rating to a “sector weight” rating in a research report on Friday, May 3rd.

Insiders Place Their Bets

In other Sprout Social news, CFO Preto Joseph Del sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $36.66, for a total transaction of $54,990.00. Following the completion of the transaction, the chief financial officer now directly owns 165,624 shares of the company’s stock, valued at approximately $6,071,775.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Justyn Russell Howard sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $34.05, for a total transaction of $681,000.00. Following the sale, the chief executive officer now owns 398,229 shares of the company’s stock, valued at approximately $13,559,697.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Preto Joseph Del sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $36.66, for a total transaction of $54,990.00. Following the sale, the chief financial officer now directly owns 165,624 shares in the company, valued at approximately $6,071,775.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 81,270 shares of company stock valued at $3,066,728. 10.97% of the stock is owned by insiders.

Institutional Investors Weigh In On Sprout Social

A number of hedge funds and other institutional investors have recently made changes to their positions in SPT. Verdence Capital Advisors LLC grew its stake in Sprout Social by 3.2% in the 4th quarter. Verdence Capital Advisors LLC now owns 7,345 shares of the company’s stock valued at $451,000 after acquiring an additional 225 shares during the period. Arcadia Investment Management Corp MI grew its stake in Sprout Social by 36.7% in the 4th quarter. Arcadia Investment Management Corp MI now owns 1,047 shares of the company’s stock valued at $64,000 after acquiring an additional 281 shares during the period. PNC Financial Services Group Inc. grew its stake in Sprout Social by 14.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,500 shares of the company’s stock valued at $125,000 after acquiring an additional 323 shares during the period. Fidelis Capital Partners LLC acquired a new stake in Sprout Social in the 1st quarter valued at $27,000. Finally, RiverPark Advisors LLC grew its stake in Sprout Social by 67.8% in the 4th quarter. RiverPark Advisors LLC now owns 1,247 shares of the company’s stock valued at $77,000 after acquiring an additional 504 shares during the period.

Sprout Social Stock Performance

SPT stock opened at $36.11 on Friday. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of -28.89 and a beta of 1.00. The firm has a 50-day simple moving average of $34.18 and a two-hundred day simple moving average of $50.90. Sprout Social has a one year low of $25.68 and a one year high of $68.41. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.97 and a current ratio of 0.97.

Sprout Social (NASDAQ:SPT) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.10. The business had revenue of $96.78 million during the quarter, compared to analyst estimates of $97.29 million. Sprout Social had a negative net margin of 19.64% and a negative return on equity of 42.51%. On average, equities analysts forecast that Sprout Social will post -0.84 EPS for the current fiscal year.

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.