Sprout Social, Inc. (NASDAQ:SPT) Receives $71.54 Consensus Target Price from Analysts

Shares of Sprout Social, Inc. (NASDAQ:SPT) have received a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $72.57.

Several research firms have recently weighed in on SPT. Jefferies Financial Group started coverage on shares of Sprout Social in a research note on Wednesday, February 7th. They issued a “buy” rating and a $76.00 price target for the company. Piper Sandler increased their price objective on Sprout Social from $62.00 to $66.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 21st. KeyCorp started coverage on Sprout Social in a research report on Thursday, March 21st. They issued an “overweight” rating and a $83.00 target price on the stock. Canaccord Genuity Group reiterated a “buy” rating and set a $70.00 price target on shares of Sprout Social in a report on Wednesday, February 21st. Finally, Needham & Company LLC restated a “buy” rating and issued a $75.00 price objective on shares of Sprout Social in a report on Tuesday.

Insiders Place Their Bets

In other Sprout Social news, Director Aaron Edward Frederick Rankin sold 44,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $59.60, for a total value of $2,622,400.00. Following the completion of the transaction, the director now owns 40,888 shares of the company’s stock, valued at approximately $2,436,924.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Sprout Social news, Director Aaron Edward Frederick Rankin sold 44,000 shares of the stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $59.60, for a total value of $2,622,400.00. Following the sale, the director now owns 40,888 shares of the company’s stock, valued at approximately $2,436,924.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Justyn Russell Howard sold 20,000 shares of Sprout Social stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $56.52, for a total value of $1,130,400.00. Following the completion of the transaction, the chief executive officer now owns 406,636 shares of the company’s stock, valued at approximately $22,983,066.72. The disclosure for this sale can be found here. Insiders have sold 140,200 shares of company stock worth $8,171,958 over the last three months. Company insiders own 11.93% of the company’s stock.

Institutional Trading of Sprout Social

A number of institutional investors have recently bought and sold shares of the business. State of Wyoming acquired a new stake in Sprout Social during the 2nd quarter worth approximately $29,000. Acadian Asset Management LLC acquired a new stake in shares of Sprout Social in the 1st quarter worth approximately $32,000. RiverPark Advisors LLC purchased a new position in Sprout Social in the 3rd quarter valued at approximately $37,000. Arcadia Investment Management Corp MI raised its stake in shares of Sprout Social by 40.3% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 766 shares of the company’s stock worth $38,000 after buying an additional 220 shares during the last quarter. Finally, Guinness Atkinson Asset Management Inc acquired a new stake in shares of Sprout Social in the third quarter valued at approximately $40,000.

Sprout Social Trading Up 1.1 %

Shares of SPT stock opened at $52.74 on Tuesday. Sprout Social has a fifty-two week low of $37.00 and a fifty-two week high of $68.41. The firm has a market capitalization of $2.97 billion, a P/E ratio of -43.95 and a beta of 1.05. The stock’s fifty day moving average is $59.34 and its two-hundred day moving average is $56.74. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.08 and a current ratio of 1.08.

Sprout Social (NASDAQ:SPT) last posted its quarterly earnings results on Tuesday, February 20th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). Sprout Social had a negative net margin of 19.91% and a negative return on equity of 41.25%. The company had revenue of $93.58 million during the quarter, compared to analysts’ expectations of $90.76 million. Research analysts expect that Sprout Social will post -1.17 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.