Sprout Social, Inc. (NASDAQ:SPT) Given Consensus Recommendation of “Hold” by Brokerages

Sprout Social, Inc. (NASDAQ:SPT) has been given an average recommendation of “Hold” by the thirteen research firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $21.9091.

Several analysts have commented on SPT shares. Canaccord Genuity Group dropped their target price on shares of Sprout Social from $25.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Weiss Ratings reissued a “sell (e+)” rating on shares of Sprout Social in a research report on Thursday, January 22nd. Barclays dropped their price objective on shares of Sprout Social from $26.00 to $13.00 and set an “overweight” rating on the stock in a report on Monday, January 12th. Jefferies Financial Group cut their price objective on shares of Sprout Social from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, February 3rd. Finally, Morgan Stanley lowered their target price on Sprout Social from $17.00 to $14.00 and set an “equal weight” rating for the company in a report on Thursday, November 13th.

Sprout Social Stock Up 0.4%

NASDAQ:SPT opened at $7.27 on Friday. Sprout Social has a 1 year low of $6.51 and a 1 year high of $29.79. The stock has a 50-day moving average price of $9.63 and a two-hundred day moving average price of $11.48. The stock has a market cap of $430.31 million, a price-to-earnings ratio of -8.98 and a beta of 0.90. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.23.

Insider Buying and Selling at Sprout Social

In other news, Director Aaron Edward Frederick Rankin purchased 90,661 shares of Sprout Social stock in a transaction on Wednesday, December 17th. The stock was purchased at an average price of $11.14 per share, with a total value of $1,009,963.54. Following the transaction, the director directly owned 114,969 shares in the company, valued at $1,280,754.66. The trade was a 372.97% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Ryan Paul Barretto acquired 93,984 shares of the stock in a transaction dated Friday, January 9th. The stock was acquired at an average price of $10.67 per share, for a total transaction of $1,002,809.28. Following the completion of the acquisition, the chief executive officer directly owned 875,256 shares of the company’s stock, valued at $9,338,981.52. The trade was a 12.03% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 10.12% of the company’s stock.

Hedge Funds Weigh In On Sprout Social

Large investors have recently modified their holdings of the business. Summit Securities Group LLC increased its position in shares of Sprout Social by 399.0% in the fourth quarter. Summit Securities Group LLC now owns 2,520 shares of the company’s stock valued at $28,000 after acquiring an additional 2,015 shares during the last quarter. Quadrant Capital Group LLC acquired a new position in shares of Sprout Social during the 4th quarter worth approximately $28,000. State of Alaska Department of Revenue bought a new stake in shares of Sprout Social during the 3rd quarter worth approximately $30,000. First Horizon Advisors Inc. boosted its holdings in shares of Sprout Social by 78.9% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,531 shares of the company’s stock valued at $32,000 after buying an additional 675 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of Sprout Social by 2,754.5% in the third quarter. Versant Capital Management Inc now owns 3,511 shares of the company’s stock valued at $45,000 after buying an additional 3,388 shares in the last quarter.

About Sprout Social

Sprout Social (NASDAQ: SPT) is a Chicago-based software company specializing in social media management solutions for businesses of all sizes. The company provides a cloud-based platform designed to help organizations improve their social media presence through a suite of tools for content scheduling, community engagement, social listening and analytics. Sprout Social’s platform is built to streamline the workflows of marketing, customer care and public relations teams by providing a centralized hub for managing multiple social channels.

The company’s product offerings include publishing and scheduling capabilities that allow users to plan and automate social content across networks such as Facebook, Instagram, Twitter, LinkedIn and Pinterest.