Sprout Social (NASDAQ:SPT) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Sprout Social (NASDAQ:SPT) in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a $75.00 target price on the stock.

Other analysts have also issued research reports about the company. Jefferies Financial Group began coverage on Sprout Social in a research note on Wednesday, February 7th. They issued a buy rating and a $76.00 price objective on the stock. KeyCorp started coverage on Sprout Social in a research report on Thursday, March 21st. They issued an overweight rating and a $83.00 target price on the stock. Stifel Nicolaus upped their target price on Sprout Social from $60.00 to $70.00 and gave the company a buy rating in a research report on Friday, January 19th. Piper Sandler upped their target price on Sprout Social from $62.00 to $66.00 and gave the company an overweight rating in a research report on Wednesday, February 21st. Finally, Barclays decreased their target price on Sprout Social from $75.00 to $72.00 and set an overweight rating on the stock in a research report on Wednesday, February 21st. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Sprout Social currently has an average rating of Moderate Buy and a consensus target price of $72.57.

Sprout Social Stock Performance

Shares of Sprout Social stock opened at $52.74 on Tuesday. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of -43.95 and a beta of 1.05. The stock’s 50-day moving average is $59.34 and its 200-day moving average is $56.74. Sprout Social has a one year low of $37.00 and a one year high of $68.41. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.08 and a quick ratio of 1.08.

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

Insiders Place Their Bets

In other Sprout Social news, Director Aaron Edward Frederick Rankin sold 44,000 shares of the stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $59.60, for a total transaction of $2,622,400.00. Following the completion of the sale, the director now directly owns 40,888 shares in the company, valued at approximately $2,436,924.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Sprout Social news, Director Aaron Edward Frederick Rankin sold 44,000 shares of the stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $59.60, for a total transaction of $2,622,400.00. Following the completion of the sale, the director now directly owns 40,888 shares in the company, valued at approximately $2,436,924.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Ryan Paul Barretto sold 5,600 shares of the stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $59.63, for a total value of $333,928.00. Following the sale, the president now owns 209,375 shares of the company’s stock, valued at $12,485,031.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 140,200 shares of company stock worth $8,171,958. Company insiders own 11.93% of the company’s stock.

Institutional Trading of Sprout Social

Large investors have recently made changes to their positions in the company. State of Wyoming acquired a new stake in shares of Sprout Social in the 2nd quarter valued at about $29,000. Acadian Asset Management LLC acquired a new stake in shares of Sprout Social in the 1st quarter valued at about $32,000. RiverPark Advisors LLC acquired a new stake in shares of Sprout Social in the 3rd quarter valued at about $37,000. Arcadia Investment Management Corp MI grew its stake in shares of Sprout Social by 40.3% in 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. Finally, Guinness Atkinson Asset Management Inc acquired a new stake in shares of Sprout Social in the 3rd quarter valued at about $40,000.

About Sprout Social

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.