Sprout Social (NASDAQ:SPT) Price Target Increased to $150.00 by Analysts at BTIG Research

Sprout Social (NASDAQ:SPT) had its target price raised by BTIG Research from $110.00 to $150.00 in a report published on Monday morning, Analyst Price Targets reports. BTIG Research currently has a buy rating on the stock.

Several other analysts have also recently weighed in on the stock. Canaccord Genuity raised their price objective on shares of Sprout Social from $77.00 to $100.00 and gave the company a buy rating in a research report on Wednesday, August 4th. Zacks Investment Research cut shares of Sprout Social from a buy rating to a hold rating in a research report on Wednesday, June 30th. Piper Sandler lifted their target price on shares of Sprout Social from $86.00 to $104.00 and gave the stock an overweight rating in a research report on Wednesday, August 4th. Needham & Company LLC lifted their target price on shares of Sprout Social from $100.00 to $110.00 and gave the stock a buy rating in a research report on Wednesday, August 4th. Finally, Barclays lifted their target price on shares of Sprout Social from $112.00 to $158.00 and gave the stock an overweight rating in a research report on Friday. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Buy and a consensus price target of $117.90.

Shares of NASDAQ:SPT opened at $128.91 on Monday. The firm has a fifty day moving average price of $107.85 and a two-hundred day moving average price of $82.49. The company has a market cap of $6.94 billion, a price-to-earnings ratio of -280.24 and a beta of 1.07. Sprout Social has a one year low of $33.36 and a one year high of $137.86.

Sprout Social (NASDAQ:SPT) last posted its quarterly earnings data on Tuesday, August 3rd. The company reported ($0.10) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.06. As a group, sell-side analysts forecast that Sprout Social will post -0.55 earnings per share for the current fiscal year.

In related news, Director Steven A. Collins sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 5th. The shares were sold at an average price of $103.84, for a total transaction of $519,200.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Ryan Paul Barretto sold 5,600 shares of the business’s stock in a transaction dated Thursday, July 1st. The stock was sold at an average price of $88.42, for a total transaction of $495,152.00. The disclosure for this sale can be found here. Insiders sold 130,711 shares of company stock worth $13,096,355 in the last 90 days. Corporate insiders own 14.86% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Sprout Social by 28.2% during the second quarter. BlackRock Inc. now owns 3,426,187 shares of the company’s stock worth $306,369,000 after acquiring an additional 753,840 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Sprout Social by 8.3% in the second quarter. Vanguard Group Inc. now owns 3,222,476 shares of the company’s stock worth $288,153,000 after buying an additional 245,816 shares in the last quarter. FMR LLC lifted its stake in shares of Sprout Social by 7.4% in the second quarter. FMR LLC now owns 1,793,785 shares of the company’s stock worth $160,401,000 after buying an additional 123,520 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Sprout Social by 49.6% in the first quarter. Ameriprise Financial Inc. now owns 1,482,648 shares of the company’s stock worth $85,639,000 after buying an additional 491,409 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its stake in shares of Sprout Social by 10.8% in the first quarter. Lord Abbett & CO. LLC now owns 1,368,678 shares of the company’s stock worth $79,055,000 after buying an additional 133,166 shares in the last quarter. 76.19% of the stock is currently owned by institutional investors and hedge funds.

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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