Sprout Social, Inc. (NASDAQ:SPT) Receives $55.54 Average Price Target from Analysts

Sprout Social, Inc. (NASDAQ:SPT) has earned an average rating of “Hold” from the fifteen research firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $51.31.

SPT has been the subject of several research analyst reports. Morgan Stanley lowered their price objective on Sprout Social from $65.00 to $49.00 and set an “equal weight” rating for the company in a report on Friday, May 3rd. Needham & Company LLC reissued a “buy” rating and set a $55.00 price target on shares of Sprout Social in a research report on Friday, August 2nd. Piper Sandler downgraded shares of Sprout Social from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $66.00 to $40.00 in a report on Friday, May 3rd. William Blair restated a “market perform” rating on shares of Sprout Social in a research report on Friday, May 3rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $46.00 price target on shares of Sprout Social in a report on Friday, August 2nd.

Sprout Social Stock Performance

Sprout Social stock opened at $32.91 on Monday. Sprout Social has a 52 week low of $25.68 and a 52 week high of $68.41. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.26. The stock has a market cap of $1.86 billion, a P/E ratio of -26.33 and a beta of 1.00. The stock has a 50 day moving average of $34.69 and a 200-day moving average of $44.43.

Sprout Social (NASDAQ:SPT) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. The firm had revenue of $99.40 million for the quarter, compared to analysts’ expectations of $98.70 million. Sprout Social had a negative net margin of 19.60% and a negative return on equity of 44.38%. The firm’s quarterly revenue was up 25.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.23) earnings per share. On average, analysts expect that Sprout Social will post -0.87 EPS for the current fiscal year.

Insider Transactions at Sprout Social

In other Sprout Social news, Director Karen Walker sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $31.14, for a total transaction of $108,990.00. Following the transaction, the director now owns 40,665 shares of the company’s stock, valued at approximately $1,266,308.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Sprout Social news, Director Karen Walker sold 3,500 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $31.14, for a total transaction of $108,990.00. Following the completion of the transaction, the director now directly owns 40,665 shares of the company’s stock, valued at approximately $1,266,308.10. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Aaron Edward Frederick Rankin sold 1,184 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $32.14, for a total value of $38,053.76. Following the completion of the sale, the director now directly owns 43,303 shares in the company, valued at approximately $1,391,758.42. The disclosure for this sale can be found here. Over the last quarter, insiders sold 95,970 shares of company stock valued at $3,219,603. 10.97% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sprout Social

Hedge funds have recently made changes to their positions in the business. Fidelis Capital Partners LLC acquired a new position in Sprout Social in the 1st quarter worth approximately $27,000. Quarry LP boosted its position in shares of Sprout Social by 2,346.9% in the second quarter. Quarry LP now owns 783 shares of the company’s stock worth $28,000 after buying an additional 751 shares during the period. EntryPoint Capital LLC purchased a new position in shares of Sprout Social during the first quarter valued at $37,000. Covestor Ltd raised its position in Sprout Social by 35,450.0% during the first quarter. Covestor Ltd now owns 711 shares of the company’s stock valued at $42,000 after buying an additional 709 shares during the period. Finally, Bessemer Group Inc. purchased a new stake in Sprout Social in the 1st quarter worth about $61,000.

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.