Sprout Social (NASDAQ:SPT) Shares Up 6.1% – What’s Next?

Shares of Sprout Social, Inc. (NASDAQ:SPT) traded up 6.1% on Wednesday . The stock traded as high as $34.87 and last traded at $34.86. 179,085 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 728,651 shares. The stock had previously closed at $32.86.

Wall Street Analyst Weigh In

Several brokerages recently commented on SPT. Barclays decreased their target price on shares of Sprout Social from $48.00 to $38.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Scotiabank assumed coverage on Sprout Social in a research report on Monday, November 18th. They set a “sector perform” rating and a $28.00 price target for the company. KeyCorp lowered Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 price target for the company. in a research note on Thursday, August 22nd. Needham & Company LLC reissued a “buy” rating and set a $55.00 price objective on shares of Sprout Social in a research report on Friday, November 8th. Finally, Piper Sandler cut their target price on shares of Sprout Social from $40.00 to $29.00 and set a “neutral” rating on the stock in a research note on Monday, November 11th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Sprout Social currently has a consensus rating of “Hold” and an average price target of $45.46.

Sprout Social Price Performance

The firm has a market cap of $1.99 billion, a PE ratio of -27.38 and a beta of 1.03. The firm’s fifty day simple moving average is $29.30 and its two-hundred day simple moving average is $31.56. 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 (NASDAQ:SPT) last released its earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. The firm had revenue of $102.64 million for the quarter, compared to analysts’ expectations of $102.04 million. As a group, research analysts expect that Sprout Social, Inc. will post -0.98 EPS for the current year.

Insider Buying and Selling at Sprout Social

In related news, CEO Ryan Paul Barretto sold 13,465 shares of Sprout Social stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $31.45, for a total value of $423,474.25. Following the completion of the transaction, the chief executive officer now owns 546,343 shares in the company, valued at approximately $17,182,487.35. This trade represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Preto Joseph Del sold 1,500 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $28.27, for a total value of $42,405.00. Following the completion of the sale, the chief financial officer now owns 158,614 shares of the company’s stock, valued at approximately $4,484,017.78. This represents a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 51,765 shares of company stock valued at $1,505,079 in the last three months. 10.97% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sprout Social

Several hedge funds have recently bought and sold shares of the business. Quarry LP raised its position in Sprout Social by 2,346.9% during the 2nd quarter. Quarry LP now owns 783 shares of the company’s stock valued at $28,000 after purchasing an additional 751 shares in the last quarter. nVerses Capital LLC raised its holdings in shares of Sprout Social by 76.5% in the 2nd quarter. nVerses Capital LLC now owns 3,000 shares of the company’s stock valued at $107,000 after purchasing an additional 1,300 shares in the last quarter. Assetmark Inc. boosted its stake in shares of Sprout Social by 27.5% during the third quarter. Assetmark Inc. now owns 3,717 shares of the company’s stock valued at $108,000 after purchasing an additional 801 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in Sprout Social during the second quarter valued at approximately $218,000. Finally, Entropy Technologies LP bought a new position in Sprout Social in the third quarter worth approximately $265,000.

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.