Sprout Social, Inc. (NASDAQ:SPT) Receives $21.91 Consensus Target Price from Analysts

Shares of Sprout Social, Inc. (NASDAQ:SPT) have been assigned a consensus recommendation of “Hold” from the thirteen analysts that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $21.9091.

A number of analysts recently weighed in on SPT shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Sprout Social in a report on Thursday, January 22nd. Barclays decreased their price objective on Sprout Social from $26.00 to $13.00 and set an “overweight” rating on the stock in a research report on Monday, January 12th. Jefferies Financial Group dropped their target price on Sprout Social from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, February 3rd. Morgan Stanley cut their price target on Sprout Social from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 13th. Finally, Canaccord Genuity Group lowered their price objective on Sprout Social from $25.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, November 7th.

Sprout Social Stock Performance

Shares of NASDAQ:SPT opened at $6.77 on Friday. The business has a fifty day moving average of $9.39 and a 200-day moving average of $11.24. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.89 and a current ratio of 0.89. Sprout Social has a twelve month low of $6.43 and a twelve month high of $29.01. The firm has a market cap of $400.71 million, a PE ratio of -8.36 and a beta of 0.90.

Insider Transactions at Sprout Social

In related news, insider Justyn Russell Howard sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $10.70, for a total transaction of $428,000.00. Following the completion of the sale, the insider directly owned 7,417 shares of the company’s stock, valued at $79,361.90. The trade was a 84.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Aaron Edward Frederick Rankin acquired 90,661 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The stock was acquired at an average price of $11.14 per share, for a total transaction of $1,009,963.54. Following the completion of the acquisition, the director directly owned 114,969 shares of the company’s stock, valued at $1,280,754.66. This trade represents a 372.97% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 10.12% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sprout Social

A number of institutional investors have recently made changes to their positions in the stock. First Horizon Advisors Inc. boosted its holdings in Sprout Social by 78.9% during the second quarter. First Horizon Advisors Inc. now owns 1,531 shares of the company’s stock worth $32,000 after buying an additional 675 shares during the last quarter. Diversified Trust Co raised its position in shares of Sprout Social by 6.1% in the 3rd quarter. Diversified Trust Co now owns 17,982 shares of the company’s stock valued at $232,000 after acquiring an additional 1,040 shares during the period. Rhumbline Advisers boosted its stake in Sprout Social by 1.6% during the 2nd quarter. Rhumbline Advisers now owns 78,240 shares of the company’s stock worth $1,636,000 after acquiring an additional 1,264 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Sprout Social by 2.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,127 shares of the company’s stock valued at $1,168,000 after purchasing an additional 1,265 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in Sprout Social by 39.1% in the fourth quarter. Russell Investments Group Ltd. now owns 6,235 shares of the company’s stock valued at $70,000 after purchasing an additional 1,752 shares in the last quarter.

About Sprout Social

Sprout Social (NASDAQ: SPT) is a Chicago-based software company specializing in social media management solutions for businesses of all sizes. The company provides a cloud-based platform designed to help organizations improve their social media presence through a suite of tools for content scheduling, community engagement, social listening and analytics. Sprout Social’s platform is built to streamline the workflows of marketing, customer care and public relations teams by providing a centralized hub for managing multiple social channels.

The company’s product offerings include publishing and scheduling capabilities that allow users to plan and automate social content across networks such as Facebook, Instagram, Twitter, LinkedIn and Pinterest.