Brokerages Set Sprout Social, Inc. (NASDAQ:SPT) Price Target at $30.00

Sprout Social, Inc. (NASDAQ:SPT - Get Free Report) has been assigned an average rating of "Hold" from the thirteen brokerages that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $30.00.

Several research firms have recently issued reports on SPT. Needham & Company LLC restated a "buy" rating and set a $32.00 target price on shares of Sprout Social in a research report on Wednesday, May 28th. The Goldman Sachs Group decreased 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. Morgan Stanley decreased their target price on Sprout Social from $30.00 to $22.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Barclays decreased their target price on Sprout Social from $34.00 to $26.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Finally, 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.

Insider Activity at Sprout Social

In related news, CEO Ryan Paul Barretto sold 16,800 shares of the business's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $21.16, for a total value of $355,488.00. Following the completion of the transaction, the chief executive officer directly owned 119,775 shares in the company, valued at approximately $2,534,439. The trade was a 12.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Karen Walker sold 5,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the director owned 25,665 shares of the company's stock, valued at $498,414.30. This represents a 16.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 152,375 shares of company stock worth $3,223,785. 10.12% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sprout Social

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Sprout Social by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 5,900,938 shares of the company's stock worth $129,762,000 after acquiring an additional 14,771 shares during the last quarter. Cadian Capital Management LP boosted its position in Sprout Social by 6.1% during the 4th quarter. Cadian Capital Management LP now owns 4,548,323 shares of the company's stock worth $139,679,000 after acquiring an additional 263,267 shares during the last quarter. Dorsey Asset Management LLC boosted its position in Sprout Social by 16.7% during the 4th quarter. Dorsey Asset Management LLC now owns 2,306,149 shares of the company's stock worth $70,822,000 after acquiring an additional 330,155 shares during the last quarter. Jennison Associates LLC boosted its position in Sprout Social by 1.3% during the 1st quarter. Jennison Associates LLC now owns 2,200,443 shares of the company's stock worth $48,388,000 after acquiring an additional 28,876 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC boosted its position in Sprout Social by 380.7% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,772,219 shares of the company's stock worth $54,425,000 after acquiring an additional 1,403,549 shares during the last quarter.

Sprout Social Trading Down 4.6%

SPT stock traded down $0.90 during midday trading on Thursday, reaching $18.85. The stock had a trading volume of 413,345 shares, compared to its average volume of 608,257. The business has a fifty day simple moving average of $21.44 and a two-hundred day simple moving average of $24.97. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.11. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of -18.13 and a beta of 1.01. Sprout Social has a twelve month low of $18.52 and a twelve month high of $39.75.

Sprout Social (NASDAQ:SPT - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.15 by $0.07. The firm had revenue of $109.29 million during the quarter, compared to analyst estimates 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 revenue was up 12.9% on a year-over-year basis. During the same period last year, the company earned $0.10 earnings per share. As a group, research analysts expect that Sprout Social will post -0.99 EPS for the current fiscal year.

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.