Analysts Set Sprout Social, Inc. (NASDAQ:SPT) PT at $27.36

Sprout Social, Inc. (NASDAQ:SPT) has been assigned an average rating of “Hold” from the thirteen analysts that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $27.3636.

SPT has been the topic of a number of research analyst reports. The Goldman Sachs Group lowered their target price on shares of Sprout Social from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Thursday, August 7th. Zacks Research lowered shares of Sprout Social from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 13th. Weiss Ratings restated a “sell (e+)” rating on shares of Sprout Social in a research report on Wednesday, October 8th. Oppenheimer decreased their price target on shares of Sprout Social from $32.00 to $23.00 and set an “outperform” rating on the stock in a research report on Thursday, August 7th. Finally, Canaccord Genuity Group decreased their price target on shares of Sprout Social from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, August 7th.

Insider Transactions at Sprout Social

In other Sprout Social news, insider Justyn Russell Howard sold 20,000 shares of the firm’s stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $11.81, for a total value of $236,200.00. Following the sale, the insider directly owned 7,417 shares in the company, valued at $87,594.77. This trade represents a 72.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last quarter, insiders have sold 50,566 shares of company stock valued at $695,181. Company insiders own 10.12% of the company’s stock.

Institutional Trading of Sprout Social

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC boosted its position in shares of Sprout Social by 739.6% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 714,089 shares of the company’s stock valued at $14,932,000 after acquiring an additional 629,033 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Sprout Social during the 1st quarter valued at about $13,131,000. Norges Bank acquired a new stake in shares of Sprout Social during the 2nd quarter valued at about $10,694,000. Canada Pension Plan Investment Board boosted its position in shares of Sprout Social by 20,382.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 471,087 shares of the company’s stock valued at $9,850,000 after acquiring an additional 468,787 shares in the last quarter. Finally, Federated Hermes Inc. boosted its position in shares of Sprout Social by 182.3% during the 2nd quarter. Federated Hermes Inc. now owns 687,234 shares of the company’s stock valued at $14,370,000 after acquiring an additional 443,774 shares in the last quarter.

Sprout Social Stock Performance

NASDAQ:SPT opened at $10.80 on Friday. Sprout Social has a 1 year low of $10.33 and a 1 year high of $36.30. The firm’s fifty day simple moving average is $13.73 and its 200 day simple moving average is $17.99. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $635.15 million, a PE ratio of -11.37 and a beta of 0.84.

Sprout Social (NASDAQ:SPT) last posted its earnings results on Wednesday, August 6th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.03. Sprout Social had a negative net margin of 12.70% and a negative return on equity of 25.95%. The business had revenue of $111.78 million for the quarter, compared to analyst estimates of $110.93 million. During the same period last year, the business posted $0.09 EPS. Sprout Social’s revenue was up 12.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Sprout Social will post -0.99 EPS for the current 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.