Sprout Social (NASDAQ:SPT) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Sprout Social (NASDAQ:SPT) had its target price raised by analysts at Jefferies Financial Group from $34.00 to $42.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Jefferies Financial Group’s price target indicates a potential upside of 25.22% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Barclays cut their target price on shares of Sprout Social from $48.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Morgan Stanley raised their price objective on Sprout Social from $36.00 to $37.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Needham & Company LLC reiterated a “buy” rating and issued a $55.00 target price on shares of Sprout Social in a research note on Wednesday, January 15th. Piper Sandler dropped their price objective on shares of Sprout Social from $40.00 to $29.00 and set a “neutral” rating for the company in a research note on Monday, November 11th. Finally, Scotiabank initiated coverage on shares of Sprout Social in a report on Monday, November 18th. They issued a “sector perform” rating and a $28.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $39.58.

Sprout Social Price Performance

Sprout Social stock opened at $33.54 on Monday. The firm has a market capitalization of $1.93 billion, a PE ratio of -27.95 and a beta of 1.03. Sprout Social has a 52 week low of $25.05 and a 52 week high of $68.41. The firm’s 50-day simple moving average is $32.46 and its 200 day simple moving average is $31.03. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19.

Sprout Social (NASDAQ:SPT) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). The business had revenue of $102.64 million for the quarter, compared to analysts’ expectations of $102.04 million. Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. On average, equities research analysts predict that Sprout Social will post -0.99 EPS for the current fiscal year.

Insider Activity

In related news, CEO Ryan Paul Barretto sold 13,465 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $31.45, for a total value of $423,474.25. Following the completion of the sale, the chief executive officer now directly owns 546,343 shares of the company’s stock, valued at $17,182,487.35. The trade was a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Karen Walker sold 5,000 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $30.26, for a total value of $151,300.00. Following the transaction, the director now owns 30,665 shares in the company, valued at $927,922.90. This trade represents a 14.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 80,265 shares of company stock worth $2,533,406 over the last ninety days. Corporate insiders own 10.97% of the company’s stock.

Institutional Investors Weigh In On Sprout Social

A number of hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its holdings in shares of Sprout Social by 16.0% in the third quarter. Wellington Management Group LLP now owns 3,762,443 shares of the company’s stock valued at $109,374,000 after acquiring an additional 519,406 shares in the last quarter. Jennison Associates LLC boosted its stake in Sprout Social by 0.3% during the fourth quarter. Jennison Associates LLC now owns 2,171,567 shares of the company’s stock valued at $66,689,000 after buying an additional 7,311 shares in the last quarter. State Street Corp raised its position in Sprout Social by 0.5% in the third quarter. State Street Corp now owns 1,227,099 shares of the company’s stock worth $35,672,000 after acquiring an additional 5,557 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Sprout Social by 20.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,199,451 shares of the company’s stock valued at $34,868,000 after acquiring an additional 200,190 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Sprout Social by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,175,538 shares of the company’s stock worth $34,179,000 after purchasing an additional 22,320 shares during the last quarter.

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.