Sprout Social, Inc. (NASDAQ:SPT) Given Average Rating of "Hold" by Analysts

Shares of Sprout Social, Inc. (NASDAQ:SPT - Get Free Report) have received a consensus recommendation of "Hold" from the thirteen analysts that are covering the company, Marketbeat.com reports. One 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 price objective among brokers that have covered the stock in the last year is $30.00.

Several equities analysts recently commented on the stock. Oppenheimer dropped their price objective 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. Scotiabank cut their price objective on Sprout Social from $28.00 to $25.00 and set a "sector perform" rating on the stock in a report on Thursday, February 27th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $24.00 target price on shares of Sprout Social in a report on Tuesday, June 3rd. The Goldman Sachs Group dropped their target price on Sprout Social from $29.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Finally, Barclays reduced their price target on Sprout Social from $34.00 to $26.00 and set an "overweight" rating on the stock in a report on Monday, April 21st.

Insider Buying and Selling

In related news, Director Karen Walker sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $19.42, for a total transaction of $97,100.00. Following the completion of the sale, the director now owns 25,665 shares of the company's stock, valued at $498,414.30. This trade represents a 16.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Justyn Russell Howard sold 40,000 shares of the stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $19.99, for a total value of $799,600.00. Following the transaction, the insider now owns 7,417 shares in the company, valued at $148,265.83. The trade was a 84.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 176,021 shares of company stock valued at $3,738,636 over the last quarter. Insiders own 10.12% of the company's stock.

Hedge Funds Weigh In On Sprout Social

Several institutional investors have recently made changes to their positions in SPT. Rhumbline Advisers grew its stake in shares of Sprout Social by 9.6% in the 1st quarter. Rhumbline Advisers now owns 76,976 shares of the company's stock valued at $1,693,000 after buying an additional 6,774 shares during the period. Empowered Funds LLC bought a new stake in shares of Sprout Social during the first quarter valued at approximately $325,000. Caxton Associates LLP acquired a new position in shares of Sprout Social during the first quarter worth approximately $358,000. Goldman Sachs Group Inc. lifted its holdings in shares of Sprout Social by 23.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 325,750 shares of the company's stock worth $7,163,000 after purchasing an additional 60,947 shares in the last quarter. Finally, Petrus Trust Company LTA bought a new position in shares of Sprout Social in the 1st quarter worth $271,000.

Sprout Social Trading Down 2.4%

Shares of SPT stock opened at $20.30 on Friday. The stock has a market cap of $1.18 billion, a P/E ratio of -16.92 and a beta of 1.04. Sprout Social has a 1 year low of $18.52 and a 1 year high of $39.75. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19. The stock has a 50 day simple moving average of $21.35 and a 200 day simple moving average of $26.70.

Sprout Social (NASDAQ:SPT - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.15 by $0.07. Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. The firm had revenue of $109.29 million for the quarter, compared to analyst estimates of $107.63 million. During the same period last year, the firm earned $0.10 EPS. The business's quarterly revenue was up 12.9% compared to the same quarter last year. On average, research analysts predict that Sprout Social will post -0.99 earnings per share for the current fiscal year.

Sprout Social Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.