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

Sprout Social, Inc. (NASDAQ:SPTGet Rating) has been assigned an average recommendation of “Moderate Buy” from the twelve analysts that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $96.00.

SPT has been the subject of several recent analyst reports. Canaccord Genuity Group decreased their price objective on shares of Sprout Social from $75.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, August 4th. Piper Sandler decreased their price objective on shares of Sprout Social from $76.00 to $70.00 and set an “overweight” rating for the company in a report on Wednesday, August 3rd. Barclays decreased their price objective on shares of Sprout Social to $66.00 in a report on Tuesday, August 9th. Morgan Stanley decreased their price objective on shares of Sprout Social from $70.00 to $66.00 and set an “equal weight” rating for the company in a report on Thursday, July 14th. Finally, Robert W. Baird decreased their price objective on shares of Sprout Social to $76.00 in a report on Tuesday, August 9th.

Insider Activity at Sprout Social

In related news, CEO Justyn Russell Howard sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, July 7th. The shares were sold at an average price of $64.42, for a total value of $1,288,400.00. Following the completion of the sale, the chief executive officer now owns 250,642 shares in the company, valued at approximately $16,146,357.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Sprout Social news, CEO Justyn Russell Howard sold 20,000 shares of the stock in a transaction that occurred on Thursday, July 7th. The shares were sold at an average price of $64.42, for a total value of $1,288,400.00. Following the completion of the sale, the chief executive officer now owns 250,642 shares in the company, valued at approximately $16,146,357.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Preto Joseph Del sold 427 shares of the stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $60.55, for a total transaction of $25,854.85. Following the completion of the sale, the chief financial officer now owns 130,362 shares of the company’s stock, valued at approximately $7,893,419.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,468 shares of company stock worth $3,753,343. 13.33% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SPT. Jennison Associates LLC increased its stake in shares of Sprout Social by 95.3% during the 2nd quarter. Jennison Associates LLC now owns 1,063,868 shares of the company’s stock worth $61,779,000 after purchasing an additional 519,059 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Sprout Social by 371.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 510,231 shares of the company’s stock worth $29,629,000 after purchasing an additional 401,901 shares during the last quarter. Driehaus Capital Management LLC acquired a new position in shares of Sprout Social during the 2nd quarter worth $21,273,000. Macquarie Group Ltd. increased its stake in shares of Sprout Social by 15.0% during the 2nd quarter. Macquarie Group Ltd. now owns 2,779,197 shares of the company’s stock worth $161,388,000 after purchasing an additional 363,381 shares during the last quarter. Finally, FMR LLC increased its stake in shares of Sprout Social by 40.0% during the 2nd quarter. FMR LLC now owns 1,229,102 shares of the company’s stock worth $71,374,000 after purchasing an additional 351,372 shares during the last quarter. Institutional investors and hedge funds own 92.94% of the company’s stock.

Sprout Social Trading Down 2.0 %

NASDAQ SPT opened at $65.16 on Monday. Sprout Social has a 52 week low of $38.39 and a 52 week high of $145.42. The stock has a market cap of $3.55 billion, a price-to-earnings ratio of -85.74 and a beta of 1.03. The company has a 50-day moving average price of $59.42 and a two-hundred day moving average price of $60.74.

Sprout Social (NASDAQ:SPTGet Rating) last posted its earnings results on Tuesday, August 2nd. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.06). Sprout Social had a negative return on equity of 28.60% and a negative net margin of 18.65%. The firm had revenue of $61.43 million during the quarter, compared to the consensus estimate of $60.26 million. As a group, equities research analysts expect that Sprout Social will post -0.9 earnings per share for the current fiscal year.

About Sprout Social

(Get Rating)

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. It provides cloud software that brings together social messaging, data, and workflows in a unified system of record, intelligence, and action.

Further Reading

Analyst Recommendations for Sprout Social (NASDAQ:SPT)

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