Sprout Social (NASDAQ:SPT) Research Coverage Started at Oppenheimer

Analysts at Oppenheimer began coverage on shares of Sprout Social (NASDAQ:SPT) in a note issued to investors on Thursday, Briefing.com reports. The brokerage set an “outperform” rating and a $76.00 price target on the stock. Oppenheimer’s price objective points to a potential upside of 45.71% from the company’s current price.

Several other equities analysts also recently issued reports on SPT. Canaccord Genuity Group reissued a “buy” rating and set a $70.00 price target on shares of Sprout Social in a report on Wednesday, February 21st. Piper Sandler boosted their price target on shares of Sprout Social from $62.00 to $66.00 and gave the company an “overweight” rating in a report on Wednesday, February 21st. Jefferies Financial Group initiated coverage on shares of Sprout Social in a report on Wednesday, February 7th. They issued a “buy” rating and a $76.00 price objective for the company. KeyCorp initiated coverage on shares of Sprout Social in a report on Thursday, March 21st. They issued an “overweight” rating and a $83.00 price objective for the company. Finally, Morgan Stanley reduced their price objective on shares of Sprout Social from $73.00 to $65.00 and set an “equal weight” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $72.57.

Sprout Social Stock Performance

Shares of SPT opened at $52.16 on Thursday. Sprout Social has a 1 year low of $37.00 and a 1 year high of $68.41. The company has a market cap of $2.93 billion, a price-to-earnings ratio of -43.47 and a beta of 1.05. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a fifty day moving average of $59.55 and a 200-day moving average of $56.76.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings results on Tuesday, February 20th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.02). Sprout Social had a negative net margin of 19.91% and a negative return on equity of 41.25%. The firm had revenue of $93.58 million for the quarter, compared to analyst estimates of $90.76 million. As a group, equities analysts anticipate that Sprout Social will post -1.17 earnings per share for the current year.

Insider Buying and Selling at Sprout Social

In other Sprout Social news, Director Aaron Edward Frederick Rankin sold 44,000 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $59.60, for a total value of $2,622,400.00. Following the completion of the sale, the director now directly owns 40,888 shares of the company’s stock, valued at approximately $2,436,924.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Sprout Social news, President Ryan Paul Barretto sold 5,600 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $59.63, for a total value of $333,928.00. Following the completion of the sale, the president now directly owns 209,375 shares of the company’s stock, valued at approximately $12,485,031.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Aaron Edward Frederick Rankin sold 44,000 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $59.60, for a total value of $2,622,400.00. Following the sale, the director now owns 40,888 shares in the company, valued at approximately $2,436,924.80. The disclosure for this sale can be found here. In the last three months, insiders sold 140,200 shares of company stock valued at $8,171,958. 11.93% of the stock is owned by insiders.

Institutional Trading of Sprout Social

Institutional investors and hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC acquired a new stake in Sprout Social during the 1st quarter worth about $32,000. State of Wyoming acquired a new stake in Sprout Social during the 2nd quarter worth about $29,000. Quarry LP acquired a new stake in Sprout Social during the 1st quarter worth about $40,000. RiverPark Advisors LLC acquired a new stake in Sprout Social during the 3rd quarter worth about $37,000. Finally, Captrust Financial Advisors raised its holdings in Sprout Social by 941.1% during the 2nd quarter. Captrust Financial Advisors now owns 760 shares of the company’s stock worth $44,000 after buying an additional 687 shares during the period.

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.