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

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

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

Insider Activity

In other news, CEO Justyn Russell Howard sold 20,000 shares of the business’s stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $64.05, for a total value of $1,281,000.00. Following the transaction, the chief executive officer now directly owns 221,455 shares in the company, valued at $14,184,192.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Preto Joseph Del sold 5,178 shares of Sprout Social stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $61.39, for a total value of $317,877.42. Following the sale, the chief financial officer now directly owns 110,391 shares of the company’s stock, valued at $6,776,903.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Justyn Russell Howard sold 20,000 shares of Sprout Social stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $64.05, for a total value of $1,281,000.00. Following the completion of the sale, the chief executive officer now directly owns 221,455 shares in the company, valued at $14,184,192.75. The disclosure for this sale can be found here. Insiders have sold 105,917 shares of company stock worth $5,856,485 over the last ninety days. Corporate insiders own 11.93% of the company’s stock.

Institutional Investors Weigh In On Sprout Social

Several large investors have recently made changes to their positions in SPT. Macquarie Group Ltd. increased its stake in Sprout Social by 15.0% during the second quarter. Macquarie Group Ltd. now owns 2,779,197 shares of the company’s stock worth $161,388,000 after acquiring an additional 363,381 shares during the last quarter. Clearbridge Investments LLC boosted its position in shares of Sprout Social by 23.1% during the first quarter. Clearbridge Investments LLC now owns 1,857,965 shares of the company’s stock valued at $113,113,000 after buying an additional 348,637 shares during the period. Granahan Investment Management LLC boosted its position in shares of Sprout Social by 50.2% during the first quarter. Granahan Investment Management LLC now owns 952,165 shares of the company’s stock valued at $57,968,000 after buying an additional 318,168 shares during the period. Morgan Stanley boosted its position in shares of Sprout Social by 78.0% during the fourth quarter. Morgan Stanley now owns 684,068 shares of the company’s stock valued at $38,622,000 after buying an additional 299,727 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Sprout Social by 101.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 441,692 shares of the company’s stock valued at $24,938,000 after buying an additional 222,928 shares during the period. 86.34% of the stock is owned by institutional investors.

Sprout Social Stock Up 2.2 %

NASDAQ:SPT opened at $43.56 on Friday. The company has a fifty day moving average of $50.66 and a 200 day moving average of $56.98. Sprout Social has a 52 week low of $37.00 and a 52 week high of $74.07. 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 issued its quarterly earnings data on Tuesday, February 21st. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.01. The business had revenue of $69.66 million for the quarter, compared to the consensus estimate of $69.83 million. Sprout Social had a negative net margin of 18.68% and a negative return on equity of 35.74%. As a group, analysts anticipate that Sprout Social will post -0.96 EPS for the current year.

Sprout Social Company Profile

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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.