Sprout Social (NASDAQ:SPT) Coverage Initiated at Scotiabank

Stock analysts at Scotiabank assumed coverage on shares of Sprout Social (NASDAQ:SPT) in a research note issued on Monday, MarketBeat reports. The brokerage set a “sector perform” rating and a $28.00 price target on the stock. Scotiabank’s price target would indicate a potential downside of 3.75% from the company’s current price.

A number of other equities analysts have also commented on SPT. Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 price target on shares of Sprout Social in a research report on Friday, November 8th. Robert W. Baird lifted their price target on shares of Sprout Social from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Piper Sandler reduced their price target on Sprout Social from $40.00 to $29.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $46.00 price objective on shares of Sprout Social in a report on Friday, August 2nd. Finally, Barclays reduced their target price on Sprout Social from $48.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Sprout Social currently has a consensus rating of “Hold” and an average target price of $45.62.

Sprout Social Price Performance

Shares of NASDAQ SPT opened at $29.09 on Monday. Sprout Social has a twelve month low of $25.05 and a twelve month high of $68.41. The company has a market cap of $1.67 billion, a PE ratio of -24.24 and a beta of 0.99. The business’s 50 day moving average price is $28.23 and its two-hundred day moving average price is $31.33. 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 announced its earnings results on Thursday, November 7th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.06). The company had revenue of $102.64 million for the quarter, compared to the consensus estimate of $102.04 million. Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. On average, analysts predict that Sprout Social will post -0.9 EPS for the current year.

Insider Activity at Sprout Social

In other Sprout Social news, CEO Ryan Paul Barretto sold 16,800 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $28.25, for a total transaction of $474,600.00. Following the sale, the chief executive officer now directly owns 170,175 shares of the company’s stock, valued at $4,807,443.75. The trade was a 8.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Justyn Russell Howard sold 8,595 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $29.27, for a total transaction of $251,575.65. Following the completion of the transaction, the chief executive officer now owns 302,217 shares of the company’s stock, valued at approximately $8,845,891.59. This trade represents a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 62,882 shares of company stock valued at $1,801,351 in the last quarter. Insiders own 10.97% of the company’s stock.

Institutional Trading of Sprout Social

Several institutional investors have recently modified their holdings of the business. Impax Asset Management Group plc raised its holdings in Sprout Social by 46.6% during the 3rd quarter. Impax Asset Management Group plc now owns 188,724 shares of the company’s stock worth $5,486,000 after purchasing an additional 60,000 shares during the last quarter. Emerald Advisers LLC acquired a new stake in shares of Sprout Social during the second quarter worth $4,345,000. Principal Financial Group Inc. raised its stake in Sprout Social by 20.0% during the third quarter. Principal Financial Group Inc. now owns 1,199,451 shares of the company’s stock worth $34,868,000 after buying an additional 200,190 shares during the last quarter. Bamco Inc. NY lifted its holdings in Sprout Social by 25.8% in the first quarter. Bamco Inc. NY now owns 975,000 shares of the company’s stock valued at $58,217,000 after buying an additional 200,000 shares during the period. Finally, Emerald Mutual Fund Advisers Trust boosted its position in Sprout Social by 133.3% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 145,052 shares of the company’s stock valued at $4,217,000 after acquiring an additional 82,879 shares during the last quarter.

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.