Sprout Social, Inc. (NASDAQ:SPT - Get Free Report) saw a large drop in short interest in the month of May. As of May 15th, there was short interest totalling 3,220,000 shares, a drop of 13.2% from the April 30th total of 3,710,000 shares. Approximately 6.3% of the company's stock are sold short. Based on an average trading volume of 783,100 shares, the short-interest ratio is currently 4.1 days.
Wall Street Analyst Weigh In
A number of analysts have recently commented on SPT shares. Canaccord Genuity Group reduced their price target on shares of Sprout Social from $40.00 to $35.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. Oppenheimer reduced their price target on shares of Sprout Social from $38.00 to $32.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. Piper Sandler reduced their price target on shares of Sprout Social from $29.00 to $27.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. Cantor Fitzgerald restated a "neutral" rating and set a $24.00 target price on shares of Sprout Social in a research report on Tuesday, June 3rd. Finally, Barclays cut their target price on shares of Sprout Social from $34.00 to $26.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $30.00.
Check Out Our Latest Stock Analysis on SPT
Sprout Social Price Performance
Shares of SPT traded down $0.14 during mid-day trading on Friday, reaching $21.72. The stock had a trading volume of 418,106 shares, compared to its average volume of 624,731. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of -18.10 and a beta of 1.04. Sprout Social has a 12 month low of $18.52 and a 12 month high of $39.75. The business has a fifty day moving average of $21.27 and a 200 day moving average of $27.05. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96.
Sprout Social (NASDAQ:SPT - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.15 by $0.07. The business had revenue of $109.29 million during the quarter, compared to analyst estimates of $107.63 million. Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. The company's revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.10 earnings per share. Equities analysts predict that Sprout Social will post -0.99 EPS for the current year.
Insider Activity at Sprout Social
In other Sprout Social news, insider Justyn Russell Howard sold 40,000 shares of Sprout Social stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $21.65, for a total value of $866,000.00. Following the completion of the transaction, the insider now directly owns 7,417 shares of the company's stock, valued at approximately $160,578.05. The trade was a 84.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Aaron Edward Frederick Rankin sold 23,646 shares of Sprout Social stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $24.58, for a total transaction of $581,218.68. Following the completion of the transaction, the director now directly owns 42,122 shares of the company's stock, valued at $1,035,358.76. This trade represents a 35.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 176,021 shares of company stock valued at $3,738,636 in the last three months. Company insiders own 10.12% of the company's stock.
Hedge Funds Weigh In On Sprout Social
A number of hedge funds have recently modified their holdings of SPT. Barclays PLC boosted its position in shares of Sprout Social by 339.5% in the third quarter. Barclays PLC now owns 90,234 shares of the company's stock worth $2,623,000 after purchasing an additional 69,704 shares during the period. Brighton Jones LLC lifted its holdings in shares of Sprout Social by 391.7% in the fourth quarter. Brighton Jones LLC now owns 35,985 shares of the company's stock worth $1,105,000 after buying an additional 28,667 shares in the last quarter. KBC Group NV lifted its holdings in shares of Sprout Social by 77.1% in the fourth quarter. KBC Group NV now owns 2,525 shares of the company's stock worth $78,000 after buying an additional 1,099 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Sprout Social by 0.3% in the fourth quarter. Jennison Associates LLC now owns 2,171,567 shares of the company's stock worth $66,689,000 after buying an additional 7,311 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of Sprout Social by 2.1% in the fourth quarter. Rhumbline Advisers now owns 70,202 shares of the company's stock worth $2,156,000 after buying an additional 1,446 shares in the last quarter.
About Sprout Social
(
Get Free Report)
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. The company provides cloud software for social messaging, data and workflows in a unified system of record, intelligence, and action.
See Also
Before you consider Sprout Social, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sprout Social wasn't on the list.
While Sprout Social currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Almost everyone loves strong dividend-paying stocks, but high yields can signal danger. Discover 20 high-yield dividend stocks paying an unsustainably large percentage of their earnings. Enter your email to get this report and avoid a high-yield dividend trap.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.