Sprout Social Inc (NASDAQ: SPT) stock jumped 2.32% on Friday to $53.73 against a previous-day closing price of $52.51. With 0.89 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.64 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $54.67 whereas the lowest price it dropped to was $52.48. The 52-week range on SPT shows that it touched its highest point at $74.07 and its lowest point at $37.00 during that stretch. It currently has a 1-year price target of $62.46. Beta for the stock currently stands at 1.02.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SPT was up-trending over the past week, with a rise of 8.83%, but this was up by 12.67% over a month. Three-month performance surged to 17.44% while six-month performance rose 22.38%. The stock lost -13.49% in the past year, while it has lost -4.84% so far this year. A look at the trailing 12-month EPS for SPT yields -1.05 with Next year EPS estimates of 0.22. For the next quarter, that number is 0.00. This implies an EPS growth rate of 333.42% for this year and 86.74% for next year.
Float and Shares Shorts:
At present, 47.56 million SPT shares are outstanding with a float of 47.27 million shares on hand for trading. On Oct 30, 2023, short shares totaled 8.76 million, which was 15.64% higher than short shares on Sep 28, 2023. In addition to Mr. Justyn Russell Howard as the firm’s Co-Founder, Chairman & CEO, Mr. Ryan Paul Barretto serves as its President.
Through their ownership of 106.96% of SPT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 70.49% of SPT, in contrast to 51.78% held by mutual funds. Shares owned by individuals account for 14.98%. As the largest shareholder in SPT with 10.21% of the stake, The Vanguard Group, Inc. holds 4,945,443 shares worth 4,945,443. A second-largest stockholder of SPT, Baillie Gifford & Co., holds 4,404,402 shares, controlling over 9.09% of the firm’s shares. Wellington Management Co. LLP is the third largest shareholder in SPT, holding 3,953,155 shares or 8.16% stake. With a 3.57% stake in SPT, the Vanguard Explorer Fund is the largest stakeholder. A total of 1,729,609 shares are owned by the mutual fund manager. The ClearBridge Small Cap Growth Fund, which owns about 3.08% of SPT stock, is the second-largest Mutual Fund holder. It holds 1,493,868 shares valued at 64.65 million. Vanguard Total Stock Market ETF holds 2.95% of the stake in SPT, owning 1,430,297 shares worth 61.9 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SPT since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With SPT analysts setting a high price target of $78.00 and a low target of $48.00, the average target price over the next 12 months is $62.46. Based on these targets, SPT could surge 45.17% to reach the target high and fall by -10.66% to reach the target low. Reaching the average price target will result in a growth of 16.25% from current levels.
Summary of Insider Activity:
Insiders traded SPT stock several times over the past three months with 1 Buys and 9 Sells. In these transactions, 75,000 shares were bought while 109,290 shares were sold. The number of buy transactions has increased to 25 while that of sell transactions has risen to 111 over the past year. The total number of shares bought during that period was 643,491 while 468,878 shares were sold.