Sprout Social (NYSE:SPT) PT Raised to $35.00
Sprout Social (NYSE:SPT) had its price target lifted by equities researchers at Goldman Sachs Group from $27.00 to $35.00 in a research note issued to investors on Monday, The Fly reports. Goldman Sachs Group’s price target suggests a potential upside of 40.17% from the stock’s current price.
Several other brokerages also recently commented on SPT. Zacks Investment Research downgraded shares of Sprout Social from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Canaccord Genuity restated a “buy” rating and issued a $24.00 target price on shares of Sprout Social in a research note on Thursday, May 7th. BTIG Research initiated coverage on shares of Sprout Social in a research note on Monday, June 8th. They issued a “buy” rating and a $40.00 target price on the stock. Morgan Stanley boosted their target price on shares of Sprout Social from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Finally, KeyCorp lifted their price target on Sprout Social from $27.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, June 4th. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. Sprout Social has an average rating of “Buy” and an average price target of $29.00.
SPT opened at $24.97 on Monday. Sprout Social has a fifty-two week low of $10.54 and a fifty-two week high of $33.52. The business’s fifty day simple moving average is $27.05.
In other Sprout Social news, CFO Preto Joseph Del sold 60,000 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $27.02, for a total transaction of $1,621,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Aaron Edward Frederick Rankin sold 37,000 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $28.36, for a total value of $1,049,320.00. The disclosure for this sale can be found here.
Hedge funds have recently made changes to their positions in the company. UBS Group AG bought a new stake in shares of Sprout Social during the fourth quarter valued at approximately $29,000. Cubist Systematic Strategies LLC purchased a new position in shares of Sprout Social in the 4th quarter worth about $37,000. Strs Ohio purchased a new position in shares of Sprout Social in the 1st quarter worth about $38,000. Citigroup Inc. purchased a new position in shares of Sprout Social in the 1st quarter worth about $45,000. Finally, Deutsche Bank AG purchased a new position in shares of Sprout Social in the 1st quarter worth about $48,000.
About Sprout Social
Sprout Social, Inc designs and develops a platform for social media management. 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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