Sprout Social (NASDAQ:SPT) Price Target Raised to $13.00

Sprout Social (NASDAQ:SPT) had its target price increased by Cantor Fitzgerald from $8.00 to $13.00 in a research report report published on Wednesday morning, Marketbeat.com reports. The brokerage currently has a neutral rating on the stock.

SPT has been the subject of a number of other reports. Needham & Company LLC reissued a “buy” rating and issued a $14.00 target price on shares of Sprout Social in a research note on Wednesday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sprout Social in a research report on Thursday, October 15th. Barclays lifted their price objective on Sprout Social from $9.00 to $12.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. Zacks Research cut Sprout Social from a “strong-buy” rating to a “hold” rating in a report on Monday, October 12th. Finally, Wall Street Zen upgraded Sprout Social from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 15th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Sprout Social has a consensus rating of “Hold” and a consensus target price of $12.17.

Sprout Social Trading Up 2.3%

SPT traded up $0.25 during mid-day trading on Wednesday, hitting $11.06. The stock had a trading volume of 1,141,929 shares, compared to its average volume of 780,982. The stock’s fifty day simple moving average is $11.09 and its 200-day simple moving average is $8.30. The firm has a market capitalization of $670.13 million, a price-to-earnings ratio of -24.58 and a beta of 0.95. Sprout Social has a 1-year low of $4.92 and a 1-year high of $13.35. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.03 and a quick ratio of 1.03.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.16. Sprout Social had a negative net margin of 6.13% and a negative return on equity of 8.80%. The company had revenue of $125.15 million during the quarter, compared to analyst estimates of $123.83 million. As a group, research analysts forecast that Sprout Social will post -0.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other Sprout Social news, insider Justyn Howard sold 40,000 shares of the stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $11.02, for a total transaction of $440,800.00. Following the completion of the transaction, the insider owned 7,417 shares in the company, valued at approximately $81,735.34. This represents a 84.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 51,612 shares of company stock valued at $573,757. 9.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Sprout Social

A number of institutional investors have recently modified their holdings of SPT. Signaturefd LLC grew its holdings in shares of Sprout Social by 33.8% during the third quarter. Signaturefd LLC now owns 3,510 shares of the company’s stock worth $34,000 after buying an additional 886 shares in the last quarter. Parallel Advisors LLC lifted its stake in Sprout Social by 341.9% in the 3rd quarter. Parallel Advisors LLC now owns 4,406 shares of the company’s stock valued at $43,000 after acquiring an additional 3,409 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Sprout Social in the 3rd quarter valued at approximately $59,000. GAMMA Investing LLC lifted its stake in Sprout Social by 115.8% in the 2nd quarter. GAMMA Investing LLC now owns 6,368 shares of the company’s stock valued at $48,000 after acquiring an additional 3,417 shares in the last quarter. Finally, Essential Partners LLC boosted its position in Sprout Social by 724.9% during the 1st quarter. Essential Partners LLC now owns 6,550 shares of the company’s stock worth $37,000 after acquiring an additional 5,756 shares during the last quarter.

Sprout Social Company Profile

Sprout Social, Inc is a software company that provides a cloud-based social media management platform for businesses and organizations. Its platform helps customers manage social media publishing, engagement, customer care, analytics, listening and employee advocacy from a centralized environment.

The company’s products are designed to help marketing, communications, sales and customer service teams plan and publish content, monitor conversations, respond to audiences, evaluate social media performance and gain insights from online activity.