Sprout Social (NASDAQ:SPT) Now Covered by Analysts at Oppenheimer

Oppenheimer began coverage on shares of Sprout Social (NASDAQ:SPT) in a research report sent to investors on Thursday, MarketBeat reports. The brokerage issued an outperform rating and a $76.00 target price on the stock.

A number of other brokerages have also recently issued reports on SPT. Needham & Company LLC reissued a buy rating and issued a $75.00 target price on shares of Sprout Social in a research report on Tuesday, April 16th. 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. The Goldman Sachs Group upped their target price on Sprout Social from $65.00 to $81.00 and gave the company a buy rating in a research report on Tuesday, January 23rd. KeyCorp began coverage on Sprout Social in a research report on Thursday, March 21st. They issued an overweight rating and a $83.00 target price for the company. Finally, Morgan Stanley decreased their target price on Sprout Social from $73.00 to $65.00 and set an equal weight rating for the company in a research report on Wednesday, April 17th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Sprout Social currently has a consensus rating of Moderate Buy and a consensus target price of $72.57.

Sprout Social Trading Down 3.3 %

SPT opened at $50.98 on Thursday. Sprout Social has a 12 month low of $37.00 and a 12 month high of $68.41. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of -42.48 and a beta of 1.05. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.08 and a quick ratio of 1.08. The business has a fifty day moving average price of $59.04 and a 200 day moving average price of $56.88.

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

Insider Transactions at Sprout Social

In other news, CEO Justyn Russell Howard sold 20,000 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $56.52, for a total transaction of $1,130,400.00. Following the completion of the transaction, the chief executive officer now directly owns 406,636 shares of the company’s stock, valued at approximately $22,983,066.72. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Justyn Russell Howard sold 20,000 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $56.52, for a total transaction of $1,130,400.00. Following the completion of the transaction, the chief executive officer now directly owns 406,636 shares of the company’s stock, valued at approximately $22,983,066.72. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Ryan Paul Barretto sold 5,600 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $59.63, for a total value of $333,928.00. Following the transaction, the president now directly 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 three months, insiders sold 140,200 shares of company stock valued at $8,171,958. Corporate insiders own 11.93% of the company’s stock.

Hedge Funds Weigh In On Sprout Social

Several hedge funds and other institutional investors have recently bought and sold shares of SPT. Advisors Asset Management Inc. increased its position in shares of Sprout Social by 21.2% in the third quarter. Advisors Asset Management Inc. now owns 1,087 shares of the company’s stock valued at $54,000 after buying an additional 190 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Sprout Social by 1.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 18,585 shares of the company’s stock valued at $1,049,000 after acquiring an additional 192 shares in the last quarter. Atria Wealth Solutions Inc. raised its position in Sprout Social by 4.7% during the third quarter. Atria Wealth Solutions Inc. now owns 4,654 shares of the company’s stock worth $232,000 after acquiring an additional 208 shares during the last quarter. Arcadia Investment Management Corp MI lifted its holdings in shares of Sprout Social by 40.3% in the third quarter. Arcadia Investment Management Corp MI now owns 766 shares of the company’s stock valued at $38,000 after purchasing an additional 220 shares in the last quarter. Finally, Verdence Capital Advisors LLC lifted its holdings in shares of Sprout Social by 3.2% in the fourth quarter. Verdence Capital Advisors LLC now owns 7,345 shares of the company’s stock valued at $451,000 after purchasing an additional 225 shares in the last quarter.

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.