On Jan. 05, Del Preto Joseph divested U.S. $128,090 in shares of Sprout Social Inc.. The CFO, Treasurer sold 2,663 shares at a price per share of $48.10. The transaction decreased this specific insider’s holdings to 123,691 shares worth around $5.84 million at present.
Another 1,415 shares were sold by Gilpin Jamie Cannon, for more than $68,062 in total proceeds. The CMO dumped the shares at a price of $48.10 and the insider now owns almost 101,796 shares.
Morgan Stanley took its Sprout Social Inc. [SPT] rating to the equivalent of an Equal-weight from an Overweight, and the price target to $51 from $34, in a research note dated November 17, 2020. That figure represents around a 7.39% premium from where the company’s shares closed on Wednesday. Other analysts also revised their coverage, with Morgan Stanley’s analysts downgrading the shares from “an Overweight” rating to “an Equal-weight” rating in a research note to investors issued in mid November. Meanwhile, Needham had maintained its rating on SPT to the earlier “Buy” rating, in a research note produced for clients November 11, 2020. In addition, there was a new coverage from Berenberg on October 20, 2020. The research firm rated SPT “a Buy”.
Is Sprout Social Inc. [NASDAQ:SPT] a Good Buy Right Now?
It should be noted that SPT technical indicators for short, intermediate as well as long term progress have placed an overall average of 56% as Buy. The average signal changed from 64% Buy in the last week and compares with 88% Buy in the past month. Data from Sprout Social Inc.’s Trend Spotter indicated that the signals were Weakening. The stock current average is 0.72 million shares in the past 20 days and the short term average signal indicates a 50% Buy. In the last 50 days, the average trading volume was 0.69 million shares while the medium term average advocated for 50% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.65 million shares.
SPT Price Performance
On Wall Street, Sprout Social Inc. [NASDAQ:SPT] finished Wednesday’s session down -2.40% at $47.23. The stock went up to $48.48 at the same session while its lowest single day price was $46.38. In the last five days, it saw a fall of about -0.08%, Sprout Social Inc. shares gained by almost 4.01% since the beginning of the year. However, the share price has dropped to as low as -16.63% below its one year high. On 01/05/21, the company shares recorded $49.28, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $45.00. The company’s shares have inclined by 165.64% in the past year. The 50-day SMA achieved is $48.25 while the 200-day SMA is $33.47. Volume gained to 0.49 million from 0.4 million in the previous session.
Sprout Social Inc. [SPT] Valuation Measures
Notably, Sprout Social Inc. [SPT] stock can be helpful for investors to consider historical price-sales ratio, more specifically, a 20.81 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 2.93.
SPT Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 46.25 level, and in case of violation of this particular level, it will cause more drop to 45.26 level. On the upper level, 49.46 is still the key resistance. The stock may increase to the subsequent resistance at 48.35. The Relative Strength Index (RSI) pinned on the 14-day chart is 45.74, implying a neutral technical stance while the MACD stands at -2.55, meaning price will decrease in the next trading period. Percent R indicator moved to 78.83%, implying bearish price movement. Stochastic %K at 25.33% suggest holding the stock.
What is the short interest in Sprout Social Inc.?
Short interest in the Sprout Social Inc. stock has surged, increasing by 0.18 million shares to total 1.13 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 1.31 million, data from Yahoo Finance shows. The decrease of -15.93% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 5.08% of the overall float for the stock.
Sprout Social Inc.’s Biggest Shareholders: Who Owns Sprout Social Inc. [SPT]?
Filings by Wellington Management Co. LLP showed that the firm now holds a total of 2,455,431 shares or roughly 5.65% of the outstanding SPT shares. This means their shares have increased by 1,441,553 from the 2,455,431 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, Goldman Sachs & Co. LLC updated stake is worth $121,238,920. Details in the latest 13F filings reveal that Granahan Investment Management, I acquired their 86.86% stake valued at $100,351,100 while BlackRock Fund Advisors added theirs at $83,136,642. During the last quarter, Granahan Investment Management, I raised 907,873 of its shares in Sprout Social Inc. while BlackRock Fund Advisors bought 1,067,288 shares. The The Vanguard Group, Inc.’s holdings currently number 1,601,534 shares at $75640450.82. According to the firm’s last 13F report, Lord, Abbett & Co. LLC shares in the company at filing stood at 1,208,410 shares, roughly $62,088,106.
SPT Earnings Forecast For The Current Quarter
Sprout Social Inc. [SPT] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $35.87M and an earnings per share of -$0.11 for Dec 2020. Looking further ahead, the company is expected to report revenue of $38.27M at an EPS of -$0.12 for Mar 2021. The estimates represent upside of 27.40% and 11.10% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
SPT Earnings Estimates For The Current Year
For the financial year, Sprout Social Inc. [NASDAQ:SPT] is expected to bring in revenue of $131.43M. The returns are nearly $28.72 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at -0.45, higher than that of FY19 by $0.71. Estimates put this year’s earnings growth at 61.20%, 11.10% for the next. As for sales, forecasts are for an increase of 28.00% in the current fiscal year and a further 27.40% over the following year.
What are analyst thoughts on Sprout Social Inc.?
Looking forward to the Sprout Social Inc. share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for Sprout Social Inc. stock at $55.00 within the next 12 months, which represents almost 14.13 per cent growth from its previous closing price of $47.23. The highest analysts’ target for Sprout Social Inc. stock projections is $60.00 and the lowest one is $50.00. Still, 11 analysts sharing their consensus rating for SPT stock in 2021 agree that it is a Buy.