Sprout Social, Inc. (NASDAQ:SPT) Receives Consensus Rating of “Moderate Buy” from Brokerages

Sprout Social, Inc. (NASDAQ:SPT) has earned a consensus rating of “Moderate Buy” from the twelve research firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $72.57.

Several research analysts recently issued reports on the stock. Piper Sandler increased their price target on shares of Sprout Social from $62.00 to $66.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 21st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $74.00 price target on shares of Sprout Social in a research note on Wednesday, February 21st. Stifel Nicolaus increased their price target on shares of Sprout Social from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, January 19th. Needham & Company LLC restated a “buy” rating and set a $75.00 price objective on shares of Sprout Social in a research note on Monday. Finally, Oppenheimer initiated coverage on shares of Sprout Social in a research note on Thursday, April 18th. They set an “outperform” rating and a $76.00 price objective for the company.

Insider Activity

In other news, Director Aaron Edward Frederick Rankin sold 44,000 shares of the firm’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $59.60, for a total transaction of $2,622,400.00. Following the sale, the director now owns 40,888 shares of the company’s stock, valued at approximately $2,436,924.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, President Ryan Paul Barretto sold 5,600 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $59.63, for a total value of $333,928.00. Following the transaction, the president now owns 209,375 shares of the company’s stock, valued at $12,485,031.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Aaron Edward Frederick Rankin sold 44,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $59.60, for a total transaction of $2,622,400.00. Following the completion of the transaction, the director now directly owns 40,888 shares in the company, valued at approximately $2,436,924.80. The disclosure for this sale can be found here. Insiders have sold a total of 140,200 shares of company stock valued at $8,171,958 in the last 90 days. 11.93% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sprout Social

Institutional investors and hedge funds have recently made changes to their positions in the business. RiverPark Advisors LLC purchased a new position in shares of Sprout Social in the third quarter worth approximately $37,000. Arcadia Investment Management Corp MI lifted its holdings in Sprout Social by 40.3% during the third quarter. Arcadia Investment Management Corp MI now owns 766 shares of the company’s stock valued at $38,000 after purchasing an additional 220 shares in the last quarter. Guinness Atkinson Asset Management Inc purchased a new position in Sprout Social during the third quarter valued at approximately $40,000. DekaBank Deutsche Girozentrale purchased a new position in Sprout Social during the third quarter valued at approximately $47,000. Finally, PNC Financial Services Group Inc. lifted its holdings in Sprout Social by 14.8% during the third quarter. PNC Financial Services Group Inc. now owns 2,500 shares of the company’s stock valued at $125,000 after purchasing an additional 323 shares in the last quarter.

Sprout Social Stock Up 0.6 %

Shares of NASDAQ SPT opened at $51.29 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.38. Sprout Social has a 12 month low of $37.00 and a 12 month high of $68.41. The firm has a market capitalization of $2.89 billion, a PE ratio of -42.74 and a beta of 1.05. The firm has a fifty day simple moving average of $58.76 and a two-hundred day simple moving average of $56.90.

Sprout Social (NASDAQ:SPT) last issued its quarterly earnings data on Tuesday, February 20th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.02). Sprout Social had a negative return on equity of 41.25% and a negative net margin of 19.91%. The company had revenue of $93.58 million during the quarter, compared to the consensus estimate of $90.76 million. Equities analysts expect that Sprout Social will post -1.17 earnings per share 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.