Sprout Social, Inc. (NASDAQ:SPT) Receives Average Rating of "Hold" from Brokerages

Shares of Sprout Social, Inc. (NASDAQ:SPT - Get Free Report) have been given an average rating of "Hold" by the thirteen analysts that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $30.00.

SPT has been the topic of several recent analyst reports. Piper Sandler dropped their price objective on Sprout Social from $29.00 to $27.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. Scotiabank dropped their price objective on Sprout Social from $28.00 to $25.00 and set a "sector perform" rating on the stock in a research report on Thursday, February 27th. The Goldman Sachs Group dropped their price objective on Sprout Social from $29.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Morgan Stanley dropped their price objective on Sprout Social from $30.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Finally, Barclays dropped their price objective on Sprout Social from $34.00 to $26.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st.

Sprout Social Stock Down 2.3%

Shares of NASDAQ SPT traded down $0.48 during trading on Friday, reaching $20.07. The company had a trading volume of 483,433 shares, compared to its average volume of 625,488. Sprout Social has a 12-month low of $18.52 and a 12-month high of $39.75. The stock has a market cap of $1.17 billion, a PE ratio of -19.30 and a beta of 1.04. The business's 50-day moving average is $21.34 and its 200 day moving average is $26.50. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.11.

Sprout Social (NASDAQ:SPT - Get Free Report) last released its quarterly earnings data 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 return on equity of 31.03% and a negative net margin of 14.25%. The company had revenue of $109.29 million for the quarter, compared to analysts' expectations of $107.63 million. During the same period last year, the firm posted $0.10 earnings per share. Sprout Social's revenue was up 12.9% compared to the same quarter last year. As a group, equities analysts forecast that Sprout Social will post -0.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Sprout Social

In other news, Director Karen Walker sold 5,000 shares of the firm's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $19.42, for a total value of $97,100.00. Following the transaction, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Justyn Russell Howard sold 40,000 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was 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 in the company, valued at $160,578.05. This trade represents a 84.36% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 152,375 shares of company stock valued at $3,157,417. 10.12% of the stock is owned by company insiders.

Institutional Trading of Sprout Social

Several institutional investors and hedge funds have recently added to or reduced their stakes in SPT. Versant Capital Management Inc raised its stake in Sprout Social by 1,319.4% during the 1st quarter. Versant Capital Management Inc now owns 1,462 shares of the company's stock valued at $32,000 after purchasing an additional 1,359 shares during the period. Quarry LP grew its holdings in Sprout Social by 85.2% during the 1st quarter. Quarry LP now owns 1,463 shares of the company's stock valued at $32,000 after buying an additional 673 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Sprout Social during the 1st quarter valued at approximately $47,000. US Bancorp DE grew its holdings in Sprout Social by 2,392.6% during the 4th quarter. US Bancorp DE now owns 1,695 shares of the company's stock valued at $52,000 after buying an additional 1,627 shares in the last quarter. Finally, AlphaQuest LLC grew its holdings in Sprout Social by 205.1% during the 1st quarter. AlphaQuest LLC now owns 4,479 shares of the company's stock valued at $98,000 after buying an additional 3,011 shares in the last quarter.

About Sprout Social

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.