Sprout Social, Inc. (NASDAQ:SPT) Receives Consensus Rating of “Buy” from Analysts

Sprout Social, Inc. (NASDAQ:SPT) has received a consensus rating of “Buy” from the twelve brokerages that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $137.78.

A number of research firms recently issued reports on SPT. William Blair reissued a “buy” rating on shares of Sprout Social in a research note on Thursday. Barclays increased their target price on Sprout Social from $112.00 to $158.00 and gave the stock an “overweight” rating in a research note on Friday, September 17th. They noted that the move was a valuation call. KeyCorp increased their target price on Sprout Social from $112.00 to $153.00 and gave the stock an “overweight” rating in a research note on Monday, September 20th. Robert W. Baird increased their target price on Sprout Social from $85.00 to $93.00 and gave the stock an “outperform” rating in a research note on Friday, June 18th. Finally, Needham & Company LLC raised their price target on shares of Sprout Social from $110.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday.

In related news, CEO Justyn Russell Howard sold 20,000 shares of the firm’s stock in a transaction on Thursday, July 8th. The stock was sold at an average price of $89.86, for a total value of $1,797,200.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Aaron Edward Frederick Rankin sold 52,000 shares of the firm’s stock in a transaction on Monday, September 20th. The stock was sold at an average price of $129.14, for a total value of $6,715,280.00. The disclosure for this sale can be found here. Insiders have sold 182,711 shares of company stock valued at $19,811,635 in the last three months. Insiders own 14.86% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans grew its position in Sprout Social by 3.1% in the second quarter. Thrivent Financial for Lutherans now owns 258,197 shares of the company’s stock valued at $23,088,000 after acquiring an additional 7,656 shares during the last quarter. Virtu Financial LLC grew its position in Sprout Social by 145.1% in the second quarter. Virtu Financial LLC now owns 14,639 shares of the company’s stock valued at $1,309,000 after acquiring an additional 8,667 shares during the last quarter. Jasper Ridge Partners L.P. grew its position in Sprout Social by 38.1% in the second quarter. Jasper Ridge Partners L.P. now owns 15,741 shares of the company’s stock valued at $1,408,000 after acquiring an additional 4,346 shares during the last quarter. Parametric Portfolio Associates LLC grew its position in Sprout Social by 71.6% in the second quarter. Parametric Portfolio Associates LLC now owns 68,301 shares of the company’s stock valued at $6,107,000 after acquiring an additional 28,497 shares during the last quarter. Finally, Ashford Capital Management Inc. grew its position in Sprout Social by 0.9% in the second quarter. Ashford Capital Management Inc. now owns 294,910 shares of the company’s stock valued at $26,371,000 after acquiring an additional 2,650 shares during the last quarter. Hedge funds and other institutional investors own 76.19% of the company’s stock.

NASDAQ SPT traded down $7.91 on Monday, hitting $136.21. 5,664 shares of the company were exchanged, compared to its average volume of 529,399. The firm has a 50 day moving average of $112.31 and a two-hundred day moving average of $84.87. The company has a market cap of $7.33 billion, a P/E ratio of -293.72 and a beta of 1.07. Sprout Social has a 1-year low of $35.63 and a 1-year high of $145.42.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings results on Tuesday, August 3rd. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.06. On average, analysts expect that Sprout Social will post -0.55 EPS for the current fiscal year.

Sprout Social Company Profile

Sprout Social, Inc designs, develops, and operates a web-based social media management tool in Americas, EMEA, and the Asia Pacific. The company offers cloud software that brings together social messaging, data, and workflows in a unified system of record, intelligence, and action. It provides various integrated tools in a range of functions comprising social engagement/response, publishing, reporting and analytics, social listening and business intelligence, reputation management, employee advocacy, and automation and workflows.

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Analyst Recommendations for Sprout Social (NASDAQ:SPT)

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