Sprout Social, Inc. (NASDAQ:SPT) Receives $39.58 Consensus Price Target from Analysts

Sprout Social, Inc. (NASDAQ:SPT - Get Free Report) has received an average recommendation of "Hold" from the fourteen brokerages that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $39.58.

Several equities analysts recently issued reports on the stock. Needham & Company LLC reissued a "buy" rating and set a $55.00 price objective on shares of Sprout Social in a report on Wednesday, January 15th. Oppenheimer lowered their price objective on shares of Sprout Social from $40.00 to $38.00 and set an "outperform" rating for the company in a research note on Tuesday, December 3rd. Scotiabank initiated coverage on shares of Sprout Social in a research note on Monday, November 18th. They set a "sector perform" rating and a $28.00 price objective for the company. Piper Sandler lowered their price objective on shares of Sprout Social from $40.00 to $29.00 and set a "neutral" rating for the company in a research note on Monday, November 11th. Finally, Jefferies Financial Group lifted their price objective on shares of Sprout Social from $34.00 to $42.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd.

Insider Transactions at Sprout Social

In other Sprout Social news, Director Karen Walker sold 5,000 shares of the business's stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $30.26, for a total value of $151,300.00. Following the transaction, the director now directly owns 30,665 shares in the company, valued at $927,922.90. The trade was a 14.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Justyn Russell Howard sold 40,000 shares of the business's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $32.59, for a total transaction of $1,303,600.00. Following the completion of the transaction, the insider now owns 7,417 shares in the company, valued at $241,720.03. The trade was a 84.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 120,265 shares of company stock valued at $3,837,006 over the last 90 days. Corporate insiders own 10.97% of the company's stock.

Hedge Funds Weigh In On Sprout Social

Several institutional investors and hedge funds have recently bought and sold shares of the company. Invesco Ltd. lifted its holdings in shares of Sprout Social by 1.8% in the 4th quarter. Invesco Ltd. now owns 22,861 shares of the company's stock worth $702,000 after acquiring an additional 397 shares during the last quarter. Truist Financial Corp increased its stake in Sprout Social by 6.1% during the 2nd quarter. Truist Financial Corp now owns 11,260 shares of the company's stock worth $402,000 after buying an additional 646 shares during the period. Quarry LP increased its stake in Sprout Social by 100.9% during the 3rd quarter. Quarry LP now owns 1,573 shares of the company's stock worth $46,000 after buying an additional 790 shares during the period. Assetmark Inc. increased its stake in Sprout Social by 27.5% during the 3rd quarter. Assetmark Inc. now owns 3,717 shares of the company's stock worth $108,000 after buying an additional 801 shares during the period. Finally, Franklin Resources Inc. increased its stake in Sprout Social by 5.4% during the 3rd quarter. Franklin Resources Inc. now owns 20,256 shares of the company's stock worth $576,000 after buying an additional 1,034 shares during the period.

Sprout Social Stock Down 6.2 %

SPT stock traded down $2.08 during trading on Monday, hitting $31.42. 772,392 shares of the company's stock traded hands, compared to its average volume of 558,641. The firm has a market capitalization of $1.80 billion, a P/E ratio of -26.18 and a beta of 1.06. The business has a fifty day simple moving average of $32.59 and a two-hundred day simple moving average of $30.87. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. Sprout Social has a 1 year low of $25.05 and a 1 year high of $67.33.

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.