Sprout Social (NASDAQ:SPT) Coverage Initiated at Oppenheimer

Stock analysts at Oppenheimer initiated coverage on shares of Sprout Social (NASDAQ:SPT) in a research report issued on Thursday, Marketbeat Ratings reports. The firm set an “outperform” rating and a $76.00 price target on the stock. Oppenheimer’s target price indicates a potential upside of 49.08% from the stock’s previous close.

Several other equities analysts have also weighed in on SPT. Piper Sandler raised their price objective on shares of Sprout Social from $62.00 to $66.00 and gave the company an “overweight” rating in a research report on Wednesday, February 21st. Canaccord Genuity Group reaffirmed a “buy” rating and set a $70.00 price objective on shares of Sprout Social in a research report on Wednesday, February 21st. Jefferies Financial Group initiated coverage on shares of Sprout Social in a research report on Wednesday, February 7th. They set a “buy” rating and a $76.00 price objective on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $74.00 price objective on shares of Sprout Social in a research report on Wednesday, February 21st. Finally, Stifel Nicolaus raised their price objective on shares of Sprout Social from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, January 19th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $72.57.

Sprout Social Stock Performance

SPT stock opened at $50.98 on Thursday. 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 stock has a market cap of $2.87 billion, a P/E ratio of -42.48 and a beta of 1.05. The firm has a 50 day simple moving average of $59.04 and a 200 day simple moving average of $56.75. Sprout Social has a 52 week low of $37.00 and a 52 week high of $68.41.

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

Insider Buying and Selling

In related news, CEO Justyn Russell Howard sold 20,000 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $56.52, for a total transaction of $1,130,400.00. Following the transaction, the chief executive officer now owns 406,636 shares of the company’s stock, valued at $22,983,066.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, President Ryan Paul Barretto sold 5,600 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $56.95, for a total transaction of $318,920.00. Following the transaction, the president now owns 198,175 shares of the company’s stock, valued at $11,286,066.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Justyn Russell Howard sold 20,000 shares of the business’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $56.52, for a total transaction of $1,130,400.00. Following the transaction, the chief executive officer now directly owns 406,636 shares in the company, valued at approximately $22,983,066.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 140,200 shares of company stock valued at $8,171,958. 11.93% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sprout Social

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Advisors Asset Management Inc. boosted its stake in Sprout Social by 21.2% during the third quarter. Advisors Asset Management Inc. now owns 1,087 shares of the company’s stock worth $54,000 after buying an additional 190 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Sprout Social by 1.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 18,585 shares of the company’s stock worth $1,049,000 after buying an additional 192 shares in the last quarter. Atria Wealth Solutions Inc. boosted its stake in Sprout Social by 4.7% during the third quarter. Atria Wealth Solutions Inc. now owns 4,654 shares of the company’s stock worth $232,000 after buying an additional 208 shares in the last quarter. Arcadia Investment Management Corp MI boosted its stake in Sprout Social by 40.3% during the third quarter. Arcadia Investment Management Corp MI now owns 766 shares of the company’s stock worth $38,000 after buying an additional 220 shares in the last quarter. Finally, Verdence Capital Advisors LLC boosted its stake in Sprout Social by 3.2% during the fourth quarter. Verdence Capital Advisors LLC now owns 7,345 shares of the company’s stock worth $451,000 after buying an additional 225 shares in 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.