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

Shares of Sprout Social, Inc. (NASDAQ:SPT - Get Free Report) have received an average recommendation of "Hold" from the thirteen research firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $30.00.

Several research analysts have weighed in on SPT shares. Barclays cut 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. The Goldman Sachs Group cut 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. Needham & Company LLC reaffirmed a "buy" rating and set a $32.00 price target on shares of Sprout Social in a research report on Wednesday, May 28th. Morgan Stanley dropped their price target 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, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $24.00 price target on shares of Sprout Social in a research report on Tuesday, June 3rd.

Sprout Social Trading Down 2.9%

NASDAQ SPT opened at $20.56 on Thursday. The company has a market cap of $1.20 billion, a price-to-earnings ratio of -19.77 and a beta of 1.01. Sprout Social has a 52 week low of $18.52 and a 52 week high of $39.75. The business has a 50 day moving average price of $21.52 and a 200-day moving average price of $25.20. 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. The firm had revenue of $109.29 million during the quarter, compared to the consensus estimate of $107.63 million. Sprout Social had a negative return on equity of 31.03% and a negative net margin of 14.25%. The company's quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.10 earnings per share. As a group, equities analysts expect that Sprout Social will post -0.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Sprout Social news, insider Justyn Russell Howard sold 40,000 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $21.65, for a total transaction of $866,000.00. Following the completion of the transaction, the insider owned 7,417 shares of the company's stock, valued at approximately $160,578.05. This trade represents a 84.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Karen Walker sold 5,000 shares of the firm's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $19.42, for a total value of $97,100.00. Following the transaction, the director directly owned 25,665 shares of the company's stock, valued at $498,414.30. This represents a 16.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold 95,575 shares of company stock valued at $2,023,497 in the last ninety days. 10.12% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sprout Social

Large investors have recently bought and sold shares of the business. Versant Capital Management Inc increased its holdings in Sprout Social by 1,319.4% in the 1st quarter. Versant Capital Management Inc now owns 1,462 shares of the company's stock worth $32,000 after buying an additional 1,359 shares in the last quarter. Quarry LP grew its stake in shares of 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 purchasing an additional 673 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of Sprout Social during the 1st quarter valued at about $47,000. US Bancorp DE grew its stake in shares of 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 purchasing an additional 1,627 shares during the period. Finally, AlphaQuest LLC grew its stake in shares of 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 purchasing an additional 3,011 shares during the period.

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.

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