Sprout Social (NASDAQ:SPT) Rating Reiterated by Needham & Company LLC

Sprout Social (NASDAQ:SPT)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a report issued on Monday, Benzinga reports. They presently have a $75.00 price objective on the stock. Needham & Company LLC’s target price suggests a potential upside of 43.90% from the stock’s current price.

A number of other brokerages have also recently commented on SPT. KeyCorp started coverage on shares of Sprout Social in a report on Thursday, March 21st. They issued an “overweight” rating and a $83.00 target price for the company. Morgan Stanley reduced their price target on shares of Sprout Social from $73.00 to $65.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. Barclays reduced their price target on shares of Sprout Social from $75.00 to $72.00 and set an “overweight” rating on the stock in a report on Wednesday, February 21st. Jefferies Financial Group assumed coverage on shares of Sprout Social in a report on Wednesday, February 7th. They issued a “buy” rating and a $76.00 price target on the stock. Finally, Oppenheimer assumed coverage on shares of Sprout Social in a report on Thursday, April 18th. They issued an “outperform” rating and a $76.00 price target on the stock. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $72.57.

Sprout Social Price Performance

Sprout Social stock opened at $52.12 on Monday. The stock has a market cap of $2.93 billion, a P/E ratio of -43.43 and a beta of 1.05. The company has a fifty day simple moving average of $58.55 and a 200-day simple moving average of $56.92. Sprout Social has a 12-month low of $37.00 and a 12-month high of $68.41. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.38.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings results on Tuesday, February 20th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $93.58 million during the quarter, compared to analysts’ expectations of $90.76 million. Equities analysts expect that Sprout Social will post -1.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Justyn Russell Howard sold 40,000 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $58.36, for a total value of $2,334,400.00. Following the transaction, the chief executive officer now directly owns 287,912 shares in the company, valued at approximately $16,802,544.32. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Preto Joseph Del sold 1,500 shares of the firm’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $59.71, for a total value of $89,565.00. Following the transaction, the chief financial officer now directly owns 127,322 shares in the company, valued at approximately $7,602,396.62. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Justyn Russell Howard sold 40,000 shares of Sprout Social stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $58.36, for a total transaction of $2,334,400.00. Following the completion of the sale, the chief executive officer now owns 287,912 shares in the company, valued at $16,802,544.32. The disclosure for this sale can be found here. Insiders sold a total of 140,200 shares of company stock valued at $8,171,958 in the last ninety days. Corporate insiders own 10.97% of the company’s stock.

Institutional Trading of Sprout Social

Several hedge funds have recently bought and sold shares of SPT. RiverPark Advisors LLC acquired a new position in Sprout Social during the 3rd quarter valued at about $37,000. Arcadia Investment Management Corp MI increased its stake in Sprout Social by 40.3% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 766 shares of the company’s stock valued at $38,000 after buying an additional 220 shares during the period. Guinness Atkinson Asset Management Inc acquired a new position in Sprout Social during the 3rd quarter valued at about $40,000. DekaBank Deutsche Girozentrale acquired a new position in Sprout Social during the 3rd quarter valued at about $47,000. Finally, PNC Financial Services Group Inc. increased its stake in Sprout Social by 14.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,500 shares of the company’s stock valued at $125,000 after buying an additional 323 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.