Sprout Social’s (SPT) Buy Rating Reiterated at William Blair

William Blair reiterated their buy rating on shares of Sprout Social (NASDAQ:SPT) in a report issued on Thursday, Analyst Ratings Network reports.

Several other research firms have also commented on SPT. Needham & Company LLC lifted their price target on Sprout Social from $100.00 to $110.00 and gave the stock a buy rating in a report on Wednesday, August 4th. Barclays lifted their price target on Sprout Social from $112.00 to $158.00 and gave the stock an overweight rating in a report on Friday, September 17th. They noted that the move was a valuation call. Robert W. Baird lifted their price target on Sprout Social from $85.00 to $93.00 and gave the stock an outperform rating in a report on Friday, June 18th. Piper Sandler lifted their price target on Sprout Social from $86.00 to $104.00 and gave the stock an overweight rating in a report on Wednesday, August 4th. Finally, KeyCorp lifted their price target on Sprout Social from $112.00 to $153.00 and gave the stock an overweight rating in a report on Monday, September 20th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Sprout Social has a consensus rating of Buy and an average target price of $133.50.

Shares of SPT opened at $144.12 on Thursday. Sprout Social has a 52-week low of $35.63 and a 52-week high of $145.42. The firm’s fifty day moving average is $112.31 and its two-hundred day moving average is $84.68. The stock has a market cap of $7.76 billion, a PE ratio of -313.30 and a beta of 1.07.

Sprout Social (NASDAQ:SPT) last announced its earnings results on Tuesday, August 3rd. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.06. On average, sell-side analysts predict that Sprout Social will post -0.55 EPS for the current year.

In other news, CMO Jamie Cannon Gilpin sold 1,283 shares of the business’s stock in a transaction dated Friday, September 17th. The stock was sold at an average price of $133.70, for a total transaction of $171,537.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Aaron Edward Frederick Rankin sold 32,000 shares of the business’s stock in a transaction dated Tuesday, July 20th. The stock was sold at an average price of $85.56, for a total value of $2,737,920.00. The disclosure for this sale can be found here. Insiders have sold 182,711 shares of company stock worth $19,811,635 over the last quarter. Insiders own 14.86% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in SPT. Rockefeller Capital Management L.P. boosted its holdings in Sprout Social by 224.5% in the second quarter. Rockefeller Capital Management L.P. now owns 318 shares of the company’s stock valued at $28,000 after purchasing an additional 220 shares in the last quarter. First Horizon Advisors Inc. acquired a new position in Sprout Social in the second quarter valued at approximately $30,000. Point72 Hong Kong Ltd acquired a new position in Sprout Social in the first quarter valued at approximately $51,000. Eaton Vance Management acquired a new position in Sprout Social in the first quarter valued at approximately $52,000. Finally, Lazard Asset Management LLC acquired a new position in Sprout Social in the second quarter valued at approximately $84,000. 76.19% of the stock is owned by hedge funds and other institutional investors.

About Sprout Social

Sprout Social, Inc designs, develops, and operates a web-based social media management tool in Americas, EMEA, and the Asia Pacific. 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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Analyst Recommendations for Sprout Social (NASDAQ:SPT)

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