Sprout Social (NASDAQ:SPT) Price Target Increased to $40.00 by Analysts at Robert W. Baird

Sprout Social (NASDAQ:SPT) had its price target hoisted by Robert W. Baird from $38.00 to $40.00 in a report issued on Friday morning, Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts have also recently weighed in on SPT. BTIG Research cut Sprout Social from a buy rating to a neutral rating in a research note on Friday, May 3rd. KeyCorp downgraded Sprout Social from an overweight rating to a sector weight rating in a research report on Friday, May 3rd. Morgan Stanley cut their target price on shares of Sprout Social from $65.00 to $49.00 and set an equal weight rating for the company in a research note on Friday, May 3rd. Oppenheimer lowered their price objective on Sprout Social from $76.00 to $43.00 and set an outperform rating on the stock in a research report on Friday, May 3rd. Finally, Canaccord Genuity Group lowered their price objective on Sprout Social from $70.00 to $50.00 and set a buy rating on the stock in a research note on Friday, May 3rd. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Sprout Social has an average rating of Moderate Buy and an average target price of $56.57.

Sprout Social Stock Performance

SPT stock opened at $31.12 on Friday. The company has a market capitalization of $1.76 billion, a P/E ratio of -24.90 and a beta of 1.00. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.31. The company has a 50-day simple moving average of $35.05 and a 200 day simple moving average of $47.02. Sprout Social has a fifty-two week low of $25.68 and a fifty-two week high of $68.41.

Sprout Social (NASDAQ:SPT) last announced its earnings results on Thursday, August 1st. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.01. Sprout Social had a negative return on equity of 44.88% and a negative net margin of 19.60%. The business had revenue of $99.40 million during the quarter, compared to analysts’ expectations of $98.70 million. During the same quarter last year, the business posted ($0.23) earnings per share. The company’s quarterly revenue was up 25.3% on a year-over-year basis. Sell-side analysts predict that Sprout Social will post -0.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Aaron Edward Frederick Rankin sold 1,184 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $32.14, for a total value of $38,053.76. Following the transaction, the director now owns 43,303 shares of the company’s stock, valued at approximately $1,391,758.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Sprout Social news, CEO Justyn Russell Howard sold 20,000 shares of Sprout Social stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $34.05, for a total value of $681,000.00. Following the sale, the chief executive officer now owns 398,229 shares of the company’s stock, valued at approximately $13,559,697.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Aaron Edward Frederick Rankin sold 1,184 shares of Sprout Social stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $32.14, for a total value of $38,053.76. Following the completion of the sale, the director now directly owns 43,303 shares in the company, valued at approximately $1,391,758.42. The disclosure for this sale can be found here. In the last three months, insiders sold 70,970 shares of company stock valued at $2,450,483. 10.97% of the stock is currently owned by insiders.

Institutional Trading of Sprout Social

A number of hedge funds and other institutional investors have recently made changes to their positions in SPT. Verdence Capital Advisors LLC increased its stake in Sprout Social by 3.2% in the 4th quarter. Verdence Capital Advisors LLC now owns 7,345 shares of the company’s stock valued at $451,000 after buying an additional 225 shares during the last quarter. Arcadia Investment Management Corp MI increased its position in shares of Sprout Social by 36.7% during the 4th quarter. Arcadia Investment Management Corp MI now owns 1,047 shares of the company’s stock worth $64,000 after purchasing an additional 281 shares during the last quarter. Fidelis Capital Partners LLC bought a new stake in shares of Sprout Social during the 1st quarter worth approximately $27,000. Arizona State Retirement System grew its stake in shares of Sprout Social by 3.9% in the second quarter. Arizona State Retirement System now owns 13,934 shares of the company’s stock valued at $497,000 after buying an additional 529 shares in the last quarter. Finally, Lazard Asset Management LLC increased its holdings in Sprout Social by 49.0% during the first quarter. Lazard Asset Management LLC now owns 1,863 shares of the company’s stock worth $111,000 after buying an additional 613 shares during the last quarter.

Sprout Social Company Profile

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.