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

Sprout Social (NASDAQ:SPT) had its price target hoisted by Canaccord Genuity Group from $10.00 to $13.50 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “hold” rating on the stock. Canaccord Genuity Group‘s target price suggests a potential upside of 25.23% from the company’s previous close.

SPT has been the topic of a number of other reports. Morgan Stanley raised their price target on Sprout Social from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 13th. KeyCorp upped their price objective on Sprout Social from $7.00 to $10.00 and gave the company an “underweight” rating in a research report on Wednesday. Weiss Ratings reissued a “sell (e+)” rating on shares of Sprout Social in a report on Thursday, October 15th. Stifel Nicolaus raised their target price on Sprout Social from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, October 14th. Finally, Needham & Company LLC restated a “buy” rating and set a $14.00 price target on shares of Sprout Social in a research note on Wednesday. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Sprout Social has a consensus rating of “Hold” and a consensus target price of $11.94.

Sprout Social Stock Performance

Sprout Social stock traded down $1.15 during midday trading on Wednesday, reaching $10.78. 1,914,390 shares of the company traded hands, compared to its average volume of 1,385,025. The firm has a market capitalization of $653.16 million, a price-to-earnings ratio of -21.56 and a beta of 0.95. The business has a 50 day moving average of $11.09 and a two-hundred day moving average of $8.28. Sprout Social has a 12 month low of $4.92 and a 12 month high of $13.35. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.03 and a quick ratio of 1.03.

Sprout Social (NASDAQ:SPT) last posted its earnings results on Tuesday, November 3rd. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.16. The business had revenue of $125.15 million during the quarter, compared to the consensus estimate of $123.83 million. Sprout Social had a negative net margin of 6.13% and a negative return on equity of 8.80%. As a group, research analysts predict that Sprout Social will post -0.02 earnings per share for the current year.

Insider Buying and Selling at Sprout Social

In other news, insider Justyn Howard sold 40,000 shares of Sprout Social stock in a transaction on Friday, October 9th. The shares were sold at an average price of $11.02, for a total transaction of $440,800.00. Following the transaction, the insider owned 7,417 shares in the company, valued at $81,735.34. This trade represents a 84.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 51,612 shares of company stock worth $573,757. Company insiders own 9.60% of the company’s stock.

Hedge Funds Weigh In On Sprout Social

Several institutional investors and hedge funds have recently bought and sold shares of SPT. Signaturefd LLC lifted its position in shares of Sprout Social by 33.8% during the 3rd quarter. Signaturefd LLC now owns 3,510 shares of the company’s stock valued at $34,000 after buying an additional 886 shares in the last quarter. Parallel Advisors LLC increased its holdings in Sprout Social by 341.9% in the 3rd quarter. Parallel Advisors LLC now owns 4,406 shares of the company’s stock worth $43,000 after acquiring an additional 3,409 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Sprout Social in the 3rd quarter worth approximately $59,000. GAMMA Investing LLC raised its stake in Sprout Social by 115.8% during the 2nd quarter. GAMMA Investing LLC now owns 6,368 shares of the company’s stock worth $48,000 after acquiring an additional 3,417 shares during the period. Finally, Essential Partners LLC raised its stake in Sprout Social by 724.9% during the 1st quarter. Essential Partners LLC now owns 6,550 shares of the company’s stock worth $37,000 after acquiring an additional 5,756 shares during the period.

Key Stories Impacting Sprout Social

Here are the key news stories impacting Sprout Social this week:

• Positive Sentiment: Q3 adjusted earnings were $0.45 per share, ahead of the roughly $0.29–$0.30 consensus, while revenue of $125.15 million topped expectations of $123.83 million. The company also reported record non-GAAP operating income of $26.3 million, a 21% margin. Sprout Social Q3 results
• Positive Sentiment: Stifel raised its price target to $15, signaling improved potential upside in its assessment of SPT. Stifel price target update
• Neutral Sentiment: Cantor Fitzgerald raised its target to $13 but kept a neutral rating, reflecting a more cautious view than Stifel’s. Cantor Fitzgerald recommendations
• Negative Sentiment: Despite beating quarterly estimates, Sprout Social’s revenue outlook for the next quarter slightly missed expectations. Investors may be focusing on that weaker forward signal rather than the strong reported results. Q3 results and revenue guidance
• Negative Sentiment: KeyCorp raised its target to $10 but maintained an underweight rating, indicating continued caution about the shares. KeyCorp recommendations
• Negative Sentiment: A law firm announced an investigation into potential securities-related claims after a federal court declined to dismiss a class action. The litigation adds a legal and reputational risk for investors. Shareholder investigation notice

About Sprout Social

Sprout Social, Inc is a software company that provides a cloud-based social media management platform for businesses and organizations. Its platform helps customers manage social media publishing, engagement, customer care, analytics, listening and employee advocacy from a centralized environment.

The company’s products are designed to help marketing, communications, sales and customer service teams plan and publish content, monitor conversations, respond to audiences, evaluate social media performance and gain insights from online activity.