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Sprout Social Inc. (NASDAQ: SPT) Could Have Exceptional Returns?

In the last trading session, 1.07 million shares of the Sprout Social Inc. (NASDAQ:SPT) were traded, and its beta was 0.90. Most recently the company’s share price was $45.26, and it changed around -$0.95 or -2.06% from the last close, which brings the market valuation of the company to $2.53B. SPT currently trades at a discount to its 52-week high of $74.07, offering almost -63.65% off that amount. The share price’s 52-week low was $37.00, which indicates that the current value has risen by an impressive 18.25% since then. We note from Sprout Social Inc.’s average daily trading volume that its 10-day average is 0.75 million shares, with the 3-month average coming to 875.06K.

Sprout Social Inc. stock received a consensus recommendation rating of an Overweight, based on a mean score of 1.70. If we narrow it down even further, the data shows that 0 out of 12 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 2 recommended SPT as a Hold, whereas 8 deemed it a Buy, and 0 rated it as Underweight. Sprout Social Inc. is expected to report earnings per share of -$0.02 for the current quarter.

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Sprout Social Inc. (NASDAQ:SPT) trade information

Instantly SPT has showed a red trend with a performance of -2.06% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 46.80 on Tuesday, 05/23/23 increased the stock’s daily price by 3.29%. The company’s shares are currently down -19.84% year-to-date, but still up 4.14% over the last five days. On the other hand, Sprout Social Inc. (NASDAQ:SPT) is -12.54% up in the 30-day period. We can see from the shorts that 7.23 million shares have been sold at a short interest cover period of 8.68 day(s).

The consensus price target as assigned by Wall Street analysts is $62.09, which translates to bulls needing to increase their stock price by 27.11% from its current value. Analyst projections state that SPT is forecast to be at a low of $46.00 and a high of $78.00. In order for the stock price to hit the forecast high, the stock would need to plunge -72.34% from its current level, while the stock would need to crash -1.63% from its current level to reach the projected low.

Sprout Social Inc. (SPT) estimates and forecasts

Sprout Social Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -23.61 percent over the past six months and at a 260.00% annual growth rate that is well above the industry average of 10.60%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will gain 50.00% in revenue this quarter, and will report an increase of 150.00% in the next quarter. The year-over-year growth rate is expected to be 30.80%, up from the previous year.

Consensus estimates provided by 10 financial analysts predict the company will bring in an average of $78.72 million in revenue for the current quarter. 10 analysts expect Sprout Social Inc. to make $85.33 million in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $61.43 million and $65.31 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 28.10%. Forecasts for the next quarter put sales growth at 30.70%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -10.40%.

SPT Dividends

Sprout Social Inc.’s next quarterly earnings report is expected to be released around July 31 and August 04.

Sprout Social Inc. (NASDAQ:SPT)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 1.75% of Sprout Social Inc. shares, and 106.61% of them are in the hands of institutional investors. The stock currently has a share float of 108.50%. Sprout Social Inc. stock is held by 354 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Mar 30, 2023, it held 9.49% of the shares, which is about 4.56 million shares worth $277.74 million.

Blackrock Inc., with 8.24% or 3.96 million shares worth $241.02 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund were the top two Mutual Funds as of Dec 30, 2022. The former held 1.44 million shares worth $81.21 million, making up 3.00% of all outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held roughly 1.22 million shares worth around $68.75 million, which represents about 2.54% of the total shares outstanding.

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