Sprout Social (NASDAQ:SPT) Price Target Raised to $150.00

Sprout Social (NASDAQ:SPT) had its price objective lifted by BTIG Research from $110.00 to $150.00 in a report issued on Monday morning, PriceTargets.com reports. The firm currently has a buy rating on the stock.

A number of other brokerages have also weighed in on SPT. Needham & Company LLC lifted their target price on Sprout Social from $100.00 to $110.00 and gave the company a buy rating in a research report on Wednesday, August 4th. Canaccord Genuity boosted their target price on Sprout Social from $77.00 to $100.00 and gave the stock a buy rating in a research note on Wednesday, August 4th. Barclays lifted their price target on Sprout Social from $112.00 to $158.00 and gave the stock an overweight rating in a research report on Friday, September 17th. They noted that the move was a valuation call. Robert W. Baird lifted their price target on Sprout Social from $85.00 to $93.00 and gave the stock an outperform rating in a research report on Friday, June 18th. Finally, Piper Sandler boosted their price objective on Sprout Social from $86.00 to $104.00 and gave the company an overweight rating in a report on Wednesday, August 4th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Sprout Social has an average rating of Buy and a consensus target price of $133.50.

NASDAQ:SPT opened at $144.26 on Monday. Sprout Social has a 12-month low of $34.72 and a 12-month high of $145.42. The stock has a 50-day moving average price of $111.09 and a 200 day moving average price of $83.84. The stock has a market capitalization of $7.77 billion, a P/E ratio of -313.61 and a beta of 1.07.

Sprout Social (NASDAQ:SPT) last released its quarterly earnings results on Tuesday, August 3rd. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.06. Research analysts predict that Sprout Social will post -0.55 EPS for the current year.

In other news, CEO Justyn Russell Howard sold 20,000 shares of Sprout Social stock in a transaction that occurred on Thursday, July 8th. The shares were sold at an average price of $89.86, for a total transaction of $1,797,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Aaron Edward Frederick Rankin sold 32,000 shares of Sprout Social stock in a transaction that occurred on Tuesday, July 20th. The stock was sold at an average price of $85.56, for a total value of $2,737,920.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 182,711 shares of company stock worth $19,811,635. Corporate insiders own 14.86% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in SPT. Knights of Columbus Asset Advisors LLC lifted its holdings in Sprout Social by 0.7% in the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 28,693 shares of the company’s stock worth $2,566,000 after buying an additional 198 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in shares of Sprout Social by 224.5% in the second quarter. Rockefeller Capital Management L.P. now owns 318 shares of the company’s stock valued at $28,000 after acquiring an additional 220 shares in the last quarter. Level Four Advisory Services LLC boosted its holdings in shares of Sprout Social by 6.8% in the second quarter. Level Four Advisory Services LLC now owns 3,996 shares of the company’s stock valued at $357,000 after acquiring an additional 253 shares in the last quarter. UBS Asset Management Americas Inc. boosted its holdings in shares of Sprout Social by 1.0% in the first quarter. UBS Asset Management Americas Inc. now owns 29,700 shares of the company’s stock valued at $1,715,000 after acquiring an additional 300 shares in the last quarter. Finally, Chicago Partners Investment Group LLC lifted its stake in Sprout Social by 10.2% during the second quarter. Chicago Partners Investment Group LLC now owns 3,308 shares of the company’s stock valued at $304,000 after purchasing an additional 306 shares during the last quarter. 76.19% of the stock is owned by institutional investors.

Sprout Social Company Profile

Sprout Social, Inc designs, develops, and operates a web-based social media management tool in Americas, EMEA, and the Asia Pacific. The company offers cloud software that brings together social messaging, data, and workflows in a unified system of record, intelligence, and action. It provides various integrated tools in a range of functions comprising social engagement/response, publishing, reporting and analytics, social listening and business intelligence, reputation management, employee advocacy, and automation and workflows.

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Analyst Recommendations for Sprout Social (NASDAQ:SPT)

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