Needham & Company LLC Reiterates “Buy” Rating for Sprout Social (NASDAQ:SPT)

Needham & Company LLC reissued their buy rating on shares of Sprout Social (NASDAQ:SPT) in a research report report published on Friday,Benzinga reports. They currently have a $55.00 price target on the stock.

A number of other analysts have also commented on the company. Oppenheimer lowered their price objective on Sprout Social from $43.00 to $40.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Robert W. Baird boosted their price target on shares of Sprout Social from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $46.00 target price on shares of Sprout Social in a report on Friday, August 2nd. Barclays reduced their price target on Sprout Social from $48.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. Finally, KeyCorp downgraded Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 price objective for the company. in a report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $48.00.

Sprout Social Price Performance

SPT stock traded down $4.29 during midday trading on Friday, reaching $26.71. 1,504,473 shares of the company’s stock traded hands, compared to its average volume of 749,777. The company has a 50-day simple moving average of $28.13 and a two-hundred day simple moving average of $32.53. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.26. Sprout Social has a 1-year low of $25.05 and a 1-year high of $68.41. The company has a market cap of $1.52 billion, a price-to-earnings ratio of -20.39 and a beta of 0.99.

Sprout Social (NASDAQ:SPT) last announced its earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). Sprout Social had a negative net margin of 19.60% and a negative return on equity of 44.38%. The business had revenue of $102.64 million during the quarter, compared to analyst estimates of $102.04 million. On average, analysts anticipate that Sprout Social will post -0.9 earnings per share for the current year.

Insider Buying and Selling

In other Sprout Social news, CEO Ryan Paul Barretto sold 16,800 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $28.25, for a total transaction of $474,600.00. Following the completion of the transaction, the chief executive officer now owns 170,175 shares in the company, valued at approximately $4,807,443.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Preto Joseph Del sold 1,500 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $28.27, for a total value of $42,405.00. Following the completion of the transaction, the chief financial officer now owns 158,614 shares of the company’s stock, valued at approximately $4,484,017.78. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ryan Paul Barretto sold 16,800 shares of Sprout Social stock in a transaction on Monday, October 7th. The shares were sold at an average price of $28.25, for a total transaction of $474,600.00. Following the completion of the sale, the chief executive officer now owns 170,175 shares in the company, valued at $4,807,443.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 62,882 shares of company stock valued at $1,801,351. 10.97% of the stock is owned by corporate insiders.

Institutional Trading of Sprout Social

Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new position in shares of Sprout Social during the 1st quarter worth about $168,000. Swiss National Bank raised its stake in Sprout Social by 0.8% in the first quarter. Swiss National Bank now owns 96,241 shares of the company’s stock valued at $5,747,000 after buying an additional 800 shares during the period. Sei Investments Co. lifted its position in shares of Sprout Social by 3.5% in the first quarter. Sei Investments Co. now owns 89,690 shares of the company’s stock valued at $5,355,000 after buying an additional 3,042 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Sprout Social by 2.8% in the first quarter. Russell Investments Group Ltd. now owns 39,352 shares of the company’s stock valued at $2,350,000 after buying an additional 1,060 shares during the last quarter. Finally, ProShare Advisors LLC boosted its stake in shares of Sprout Social by 8.9% during the 1st quarter. ProShare Advisors LLC now owns 9,587 shares of the company’s stock worth $572,000 after acquiring an additional 784 shares during the period.

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.