Sprout Social (NASDAQ:SPT) Given New $42.00 Price Target at Jefferies Financial Group

Sprout Social (NASDAQ:SPT - Free Report) had its price objective hoisted by Jefferies Financial Group from $34.00 to $42.00 in a report released on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts also recently commented on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $55.00 price objective on shares of Sprout Social in a report on Wednesday, January 15th. Scotiabank began coverage on Sprout Social in a research report on Monday, November 18th. They set a "sector perform" rating and a $28.00 price target on the stock. Barclays decreased 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. Oppenheimer decreased their price target on Sprout Social from $40.00 to $38.00 and set an "outperform" rating on the stock in a research report on Tuesday, December 3rd. Finally, Piper Sandler decreased their price target on Sprout Social from $40.00 to $29.00 and set a "neutral" rating on the stock in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $39.58.

Sprout Social Stock Performance

NASDAQ SPT traded down $0.77 during trading on Monday, hitting $32.60. 1,848,425 shares of the company's stock traded hands, compared to its average volume of 546,130. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of -27.17 and a beta of 1.06. Sprout Social has a 12-month low of $25.05 and a 12-month high of $68.41. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96. The business has a 50 day moving average of $32.51 and a 200-day moving average of $31.06.

Sprout Social (NASDAQ:SPT - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.06). The business had revenue of $102.64 million for the quarter, compared to analysts' expectations of $102.04 million. Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. As a group, equities research analysts anticipate that Sprout Social will post -0.99 earnings per share for the current fiscal year.

Insider Transactions at Sprout Social

In related news, CEO Ryan Paul Barretto sold 13,465 shares of the business's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $31.45, for a total value of $423,474.25. Following the completion of the sale, the chief executive officer now owns 546,343 shares in the company, valued at $17,182,487.35. The trade was a 2.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Karen Walker sold 5,000 shares of the business's stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $34.24, for a total value of $171,200.00. Following the completion of the sale, the director now owns 35,665 shares of the company's stock, valued at $1,221,169.60. The trade was a 12.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 80,265 shares of company stock valued at $2,533,406. 10.97% of the stock is owned by corporate insiders.

Institutional Trading of Sprout Social

A number of institutional investors have recently made changes to their positions in SPT. Quarry LP boosted its holdings in shares of Sprout Social by 2,346.9% during the second quarter. Quarry LP now owns 783 shares of the company's stock worth $28,000 after purchasing an additional 751 shares during the period. US Bancorp DE boosted its holdings in shares of Sprout Social by 2,392.6% during the fourth quarter. US Bancorp DE now owns 1,695 shares of the company's stock worth $52,000 after purchasing an additional 1,627 shares during the period. KBC Group NV boosted its holdings in shares of Sprout Social by 77.1% during the fourth quarter. KBC Group NV now owns 2,525 shares of the company's stock worth $78,000 after purchasing an additional 1,099 shares during the period. Assetmark Inc. boosted its holdings in shares of Sprout Social by 27.5% during the third quarter. Assetmark Inc. now owns 3,717 shares of the company's stock worth $108,000 after purchasing an additional 801 shares during the period. Finally, Yarbrough Capital LLC purchased a new stake in shares of Sprout Social during the fourth quarter worth about $206,000.

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.