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

Shares of Sprout Social, Inc. (NASDAQ:SPTGet Rating) have received an average recommendation of “Moderate Buy” from the twelve analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $101.73.

A number of research analysts have recently weighed in on the stock. Cantor Fitzgerald reduced their target price on shares of Sprout Social from $99.00 to $80.00 in a research report on Wednesday, May 4th. Barclays reduced their target price on shares of Sprout Social from $91.00 to $79.00 in a research report on Wednesday, May 4th. Piper Sandler reduced their target price on shares of Sprout Social from $98.00 to $76.00 and set an “overweight” rating for the company in a research report on Friday, July 15th. Finally, Morgan Stanley cut 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.

Sprout Social Trading Up 1.0 %

Shares of SPT opened at $52.10 on Friday. The stock has a market capitalization of $2.84 billion, a P/E ratio of -88.30 and a beta of 1.31. The firm’s fifty day simple moving average is $55.10 and its two-hundred day simple moving average is $61.62. Sprout Social has a 12 month low of $38.39 and a 12 month high of $145.42.

Sprout Social (NASDAQ:SPTGet Rating) last posted its earnings results on Tuesday, May 3rd. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.01). The business had revenue of $57.43 million during the quarter, compared to analyst estimates of $56.25 million. Sprout Social had a negative return on equity of 21.90% and a negative net margin of 15.69%. The company’s revenue was up 40.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.12) EPS. As a group, research analysts predict that Sprout Social will post -0.74 EPS for the current fiscal year.

Insider Buying and Selling

In other Sprout Social news, CEO Justyn Russell Howard sold 20,000 shares of the firm’s stock in a transaction on Monday, May 9th. The shares were sold at an average price of $47.15, for a total value of $943,000.00. Following the sale, the chief executive officer now owns 255,939 shares of the company’s stock, valued at approximately $12,067,523.85. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Sprout Social news, CEO Justyn Russell Howard sold 20,000 shares of the company’s stock in a transaction dated Monday, May 9th. The shares were sold at an average price of $47.15, for a total value of $943,000.00. Following the sale, the chief executive officer now owns 255,939 shares in the company, valued at $12,067,523.85. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Ryan Paul Barretto sold 5,600 shares of the company’s stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $60.90, for a total transaction of $341,040.00. Following the completion of the sale, the president now owns 347,109 shares in the company, valued at approximately $21,138,938.10. The disclosure for this sale can be found here. Insiders have sold a total of 76,407 shares of company stock worth $4,328,707 in the last 90 days. 13.33% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sprout Social

A number of institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC grew its holdings in shares of Sprout Social by 84.3% during the second quarter. SG Americas Securities LLC now owns 22,726 shares of the company’s stock valued at $1,320,000 after buying an additional 10,394 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Sprout Social by 6.7% during the second quarter. Russell Investments Group Ltd. now owns 106,667 shares of the company’s stock valued at $6,191,000 after purchasing an additional 6,697 shares during the period. Arizona State Retirement System lifted its position in Sprout Social by 19.0% during the second quarter. Arizona State Retirement System now owns 12,460 shares of the company’s stock valued at $724,000 after purchasing an additional 1,989 shares during the period. CWM LLC lifted its position in Sprout Social by 109.1% during the second quarter. CWM LLC now owns 485 shares of the company’s stock valued at $28,000 after purchasing an additional 253 shares during the period. Finally, Bailard Inc. lifted its position in Sprout Social by 19.1% during the second quarter. Bailard Inc. now owns 15,485 shares of the company’s stock valued at $899,000 after purchasing an additional 2,485 shares during the period. Hedge funds and other institutional investors own 83.30% of the company’s stock.

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.

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Analyst Recommendations for Sprout Social (NASDAQ:SPT)

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