Sprout Social (NASDAQ:SPT) Given Buy Rating at Needham & Company LLC

Sprout Social (NASDAQ:SPT)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $55.00 target price on the stock. Needham & Company LLC’s price target would suggest a potential upside of 47.61% from the company’s current price.

Other research analysts have also issued reports about the stock. Cantor Fitzgerald decreased their price objective on shares of Sprout Social from $74.00 to $46.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Barclays decreased their price target on shares of Sprout Social from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Tuesday, July 16th. Oppenheimer cut their price objective on Sprout Social from $76.00 to $43.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Robert W. Baird decreased their target price on Sprout Social from $45.00 to $38.00 and set a “neutral” rating for the company in a research report on Thursday, June 27th. Finally, The Goldman Sachs Group lowered Sprout Social from a “buy” rating to a “neutral” rating and dropped their price target for the company from $80.00 to $44.00 in a research report on Friday, May 3rd. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.43.

Sprout Social Trading Down 4.6 %

NASDAQ SPT opened at $37.26 on Friday. The stock has a market cap of $2.11 billion, a P/E ratio of -29.81 and a beta of 1.00. Sprout Social has a fifty-two week low of $25.68 and a fifty-two week high of $68.41. The stock has a 50 day simple moving average of $35.07 and a two-hundred day simple moving average of $47.60. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.97 and a current ratio of 0.97.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.10. The company had revenue of $96.78 million during the quarter, compared to analyst estimates of $97.29 million. Sprout Social had a negative return on equity of 42.51% and a negative net margin of 19.64%. On average, analysts forecast that Sprout Social will post -0.84 earnings per share for the current year.

Insider Transactions at Sprout Social

In related news, CEO Justyn Russell Howard sold 20,000 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $36.13, for a total transaction of $722,600.00. Following the sale, the chief executive officer now directly owns 398,229 shares of the company’s stock, valued at approximately $14,388,013.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, President Ryan Paul Barretto sold 11,200 shares of the business’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $36.10, for a total value of $404,320.00. Following the completion of the transaction, the president now owns 186,975 shares in the company, valued at $6,749,797.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Justyn Russell Howard sold 20,000 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $36.13, for a total value of $722,600.00. Following the transaction, the chief executive officer now directly owns 398,229 shares in the company, valued at $14,388,013.77. The disclosure for this sale can be found here. Over the last three months, insiders have sold 92,470 shares of company stock valued at $3,063,248. Insiders own 10.97% of the company’s stock.

Hedge Funds Weigh In On Sprout Social

A number of hedge funds have recently bought and sold shares of the business. Verdence Capital Advisors LLC increased its position in Sprout Social by 3.2% during the fourth quarter. Verdence Capital Advisors LLC now owns 7,345 shares of the company’s stock valued at $451,000 after acquiring an additional 225 shares during the last quarter. Arcadia Investment Management Corp MI boosted its holdings in shares of Sprout Social by 36.7% in the fourth quarter. Arcadia Investment Management Corp MI now owns 1,047 shares of the company’s stock worth $64,000 after buying an additional 281 shares during the last quarter. Fidelis Capital Partners LLC bought a new stake in Sprout Social during the first quarter valued at approximately $27,000. Lazard Asset Management LLC increased its holdings in Sprout Social by 49.0% during the first quarter. Lazard Asset Management LLC now owns 1,863 shares of the company’s stock valued at $111,000 after buying an additional 613 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new position in Sprout Social in the first quarter worth approximately $37,000.

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.