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

Shares of Sprout Social, Inc. (NASDAQ:SPT – Get Rating) have been assigned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $64.36.

A number of equities analysts recently commented on SPT shares. BTIG Research lowered their target price on shares of Sprout Social from $100.00 to $76.00 in a research note on Wednesday, May 3rd. Canaccord Genuity Group boosted their target price on shares of Sprout Social from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, February 22nd. Stifel Nicolaus lowered their target price on shares of Sprout Social from $75.00 to $60.00 in a research note on Wednesday, May 3rd. Robert W. Baird lowered their target price on shares of Sprout Social from $78.00 to $60.00 in a research note on Wednesday, May 3rd. Finally, Barclays lowered their target price on shares of Sprout Social from $72.00 to $62.00 in a research note on Wednesday, May 3rd.

Sprout Social Trading Up 2.2 %

Sprout Social stock opened at $43.56 on Friday. Sprout Social has a twelve month low of $37.00 and a twelve month high of $74.07. The stock’s fifty day simple moving average is $50.66 and its 200-day simple moving average is $56.98. The firm has a market capitalization of $2.41 billion, a P/E ratio of -46.84 and a beta of 0.89.

Sprout Social (NASDAQ:SPT – Get Rating) last posted its quarterly earnings data on Tuesday, February 21st. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.01. Sprout Social had a negative return on equity of 35.74% and a negative net margin of 18.68%. The business had revenue of $69.66 million for the quarter, compared to analyst estimates of $69.83 million. Sell-side analysts predict that Sprout Social will post -0.96 earnings per share for the current year.

Insider Buying and Selling at Sprout Social

In other Sprout Social news, President Ryan Paul Barretto sold 14,859 shares of the company’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $61.39, for a total value of $912,194.01. Following the completion of the transaction, the president now owns 310,908 shares in the company, valued at $19,086,642.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, President Ryan Paul Barretto sold 14,859 shares of the company’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $61.39, for a total value of $912,194.01. Following the completion of the sale, the president now directly owns 310,908 shares of the company’s stock, valued at $19,086,642.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Aaron Edward Frederick Rankin sold 2,556 shares of the company’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $61.39, for a total transaction of $156,912.84. Following the completion of the sale, the chief technology officer now directly owns 28,559 shares of the company’s stock, valued at $1,753,237.01. The disclosure for this sale can be found here. Insiders sold 105,917 shares of company stock worth $5,856,485 over the last 90 days. Corporate insiders own 11.93% of the company’s stock.

Institutional Investors Weigh In On Sprout Social

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Point72 Hong Kong Ltd purchased a new position in Sprout Social during the third quarter worth about $25,000. MCF Advisors LLC purchased a new position in Sprout Social during the third quarter worth about $31,000. Acadian Asset Management LLC purchased a new position in Sprout Social during the first quarter worth about $32,000. C M Bidwell & Associates Ltd. purchased a new position in Sprout Social during the first quarter worth about $33,000. Finally, Quarry LP purchased a new position in Sprout Social during the first quarter worth about $40,000. 86.34% of the stock is owned by hedge funds and other institutional investors.

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.