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

Sprout Social, Inc. (NASDAQ:SPTGet Rating) has been assigned an average recommendation of “Buy” from the thirteen ratings firms that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $106.91.

Several equities research analysts have weighed in on SPT shares. Needham & Company LLC cut their price target on Sprout Social from $160.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, February 23rd. Barclays raised their price target on shares of Sprout Social from $73.00 to $91.00 in a research note on Tuesday. Cantor Fitzgerald initiated coverage on shares of Sprout Social in a research note on Tuesday, April 5th. They issued an “overweight” rating and a $99.00 price target on the stock. Piper Sandler decreased their target price on shares of Sprout Social from $125.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 23rd. Finally, Stifel Nicolaus decreased their target price on shares of Sprout Social from $155.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, February 23rd.

In other news, CTO Aaron Edward Frederick Rankin sold 32,000 shares of the company’s stock in a transaction that occurred on Friday, February 18th. The shares were sold at an average price of $54.49, for a total value of $1,743,680.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Preto Joseph Del sold 439 shares of the company’s stock in a transaction that occurred on Monday, April 4th. The stock was sold at an average price of $83.07, for a total transaction of $36,467.73. Following the completion of the sale, the chief financial officer now directly owns 135,489 shares of the company’s stock, valued at $11,255,071.23. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 159,709 shares of company stock valued at $10,962,463. Insiders own 14.86% of the company’s stock.

Several large investors have recently modified their holdings of SPT. Moors & Cabot Inc. acquired a new stake in Sprout Social during the third quarter valued at approximately $27,000. SRS Capital Advisors Inc. acquired a new stake in Sprout Social during the fourth quarter valued at approximately $27,000. Manchester Capital Management LLC acquired a new stake in Sprout Social during the third quarter valued at approximately $31,000. Pinebridge Investments L.P. acquired a new stake in Sprout Social during the fourth quarter valued at approximately $36,000. Finally, Atticus Wealth Management LLC acquired a new stake in Sprout Social during the third quarter valued at approximately $37,000. 83.57% of the stock is owned by institutional investors.

NASDAQ:SPT traded down $1.18 during midday trading on Friday, hitting $62.82. The stock had a trading volume of 5,561 shares, compared to its average volume of 668,567. The stock has a 50-day moving average of $69.71 and a 200 day moving average of $88.74. The company has a market capitalization of $3.41 billion, a price-to-earnings ratio of -118.53 and a beta of 1.29. Sprout Social has a one year low of $48.79 and a one year high of $145.42.

Sprout Social (NASDAQ:SPTGet Rating) last issued its quarterly earnings data on Tuesday, February 22nd. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.01). The firm had revenue of $53.27 million during the quarter, compared to analysts’ expectations of $51.28 million. During the same period in the previous year, the company posted ($0.11) EPS. The company’s revenue was up 42.6% on a year-over-year basis. As a group, research analysts predict that Sprout Social will post -0.69 EPS for the current year.

Sprout Social Company Profile (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.

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