Sprout Social, Inc. (NASDAQ:SPT) Receives Consensus “Buy” Recommendation From Analysts
Sprout Social, Inc. (NASDAQ:SPT – Get Rating) has been assigned an average recommendation of “Buy” by the thirteen ratings companies that cover the stock, Marketbeat reports. Two research analysts rated the stock with a hold recommendation and nine gave the company a buy recommendation. The 1-year average price target among brokerages that have issued ratings on the stock in the past year is $106.91.
Several equity research analysts have weighed in on SPT shares. Needham & Company LLC cut its price target on Sprout Social from $160.00 to $75.00 and set a “buy” rating on the stock in a Wednesday, Feb. 23 research report. Barclays raised its price target on shares of Sprout Social from $73.00 to $91.00 in a research note on Tuesday. Cantor Fitzgerald kicked off the Sprout Social stock coverage in a research note on Tuesday, April 5. They issued an “overweight” rating and a price target of $99.00 on the stock. Piper Sandler lowered its price target on shares of Sprout Social from $125.00 to $98.00 and set an “overweight” rating on the stock in a Wednesday, Feb. 23 research note. Finally, Stifel Nicolaus lowered his price target on Sprout Social shares from $155.00 to $100.00 and set a “buy” rating on the stock in a Wednesday, February 23 research note.
Separately, CTO Aaron Edward Frederick Rankin sold 32,000 shares of the company in a trade that took place on Friday, February 18. The shares were sold at an average price of $54.49, for a total value of $1,743,680.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available via this link. Additionally, Chief Financial Officer Preto Joseph Del sold 439 shares of the company in a trade that took place on Monday, April 4. The stock was sold at an average price of $83.07, for a total transaction of $36,467.73. Following the completion of the sale, the CFO now directly owns 135,489 shares of the company, valued at $11,255,071.23. The disclosure of this sale can be found here. In the past ninety days, insiders have sold 159,709 shares of the company valued at $10,962,463. Insiders hold 14.86% of the shares of the company.
Several large investors have recently changed their holdings in SPT. Moors & Cabot Inc. acquired a new stake in Sprout Social during the third quarter valued at approximately $27,000. SRS Capital Advisors Inc. acquired a new stake in Sprout Social during the fourth quarter valued at approximately $27,000. Manchester Capital Management LLC acquired a new stake in Sprout Social during the third quarter worth approximately $31,000. Pinebridge Investments LP acquired a new stake in Sprout Social during the fourth quarter valued at approximately $36,000. Finally, Atticus Wealth Management LLC acquired a new stake in Sprout Social during the third quarter valued at approximately $37,000. 83.57% of the shares are held by institutional investors.
NASDAQ:SPT was down $1.18 in Friday’s midday session, hitting $62.82. The stock had a trading volume of 5,561 shares, compared to an average trading volume of 668,567. The stock has a 50-day moving average of $69.71 and a 200-day moving average of $88.74. The company has a market capitalization of $3.41 billion, a price-earnings ratio of -118.53 and a beta of 1.29. Sprout Social has a one-year minimum of $48.79 and a one-year maximum of $145.42.
Sprout Social Inc (NASDAQ:SPT – Get Rating) last released its quarterly earnings data on Tuesday, February 22. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.01). The company posted revenue of $53.27 million in the quarter, compared to $51.28 million expected by analysts. During the same period of the previous year, the company posted an EPS of ($0.11). The company’s revenue increased 42.6% year over year. As a group, research analysts predict Sprout Social to post -0.69 EPS for the current year.
Sprout Social Enterprise Profile (Get a rating)
Sprout Social, Inc designs, develops and operates a web-based social media management platform in the Americas, Europe, Middle East, Africa and Asia-Pacific. It provides cloud-based software that brings together social messaging, data, and workflows into a unified system of record, intelligence, and action.
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