Sprout Social's (SPT) Buy Rating Reaffirmed at Needham & Company LLC

Sprout Social (NASDAQ:SPT - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at Needham & Company LLC in a report released on Friday,Benzinga reports. They presently have a $55.00 price objective on the stock. Needham & Company LLC's price objective indicates a potential upside of 105.92% from the company's current price.

Other analysts have also issued research reports about the stock. Oppenheimer lowered their target price on shares of Sprout Social from $43.00 to $40.00 and set an "outperform" rating for the company in a report on Thursday, October 24th. KeyCorp cut Sprout Social from a "sector weight" rating to an "underweight" rating and set a $28.00 target price on the stock. in a report on Thursday, August 22nd. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $46.00 price target on shares of Sprout Social in a research note on Friday, August 2nd. Robert W. Baird lifted their price objective 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. Finally, Barclays decreased their price target on shares of Sprout Social from $48.00 to $38.00 and set an "overweight" rating for the company in a report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, Sprout Social presently has a consensus rating of "Hold" and an average target price of $48.00.

Sprout Social Trading Down 13.8 %

SPT traded down $4.29 during mid-day trading on Friday, reaching $26.71. The stock had a trading volume of 1,504,154 shares, compared to its average volume of 749,776. The stock has a market capitalization of $1.52 billion, a P/E ratio of -21.56 and a beta of 0.99. Sprout Social has a 52 week low of $25.05 and a 52 week high of $68.41. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.98 and a current ratio of 0.98. The firm's fifty day simple moving average is $28.21 and its two-hundred day simple moving average is $32.70.

Sprout Social (NASDAQ:SPT - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.28) EPS for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.06). Sprout Social had a negative return on equity of 44.38% and a negative net margin of 19.60%. The firm had revenue of $102.64 million during the quarter, compared to analyst estimates of $102.04 million. On average, equities analysts predict that Sprout Social will post -0.9 EPS for the current year.

Insider Buying and Selling at Sprout Social

In related news, Director Aaron Edward Frederick Rankin sold 1,181 shares of Sprout Social stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $29.23, for a total transaction of $34,520.63. Following the completion of the sale, the director now directly owns 42,122 shares of the company's stock, valued at approximately $1,231,226.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Aaron Edward Frederick Rankin sold 1,181 shares of Sprout Social stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $29.23, for a total value of $34,520.63. Following the completion of the sale, the director now directly owns 42,122 shares in the company, valued at approximately $1,231,226.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Preto Joseph Del sold 1,500 shares of the firm's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $29.81, for a total value of $44,715.00. Following the transaction, the chief financial officer now owns 162,624 shares in the company, valued at approximately $4,847,821.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 62,882 shares of company stock valued at $1,801,351 in the last quarter. 10.97% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sprout Social

A number of large investors have recently modified their holdings of the business. Impax Asset Management Group plc grew its position in Sprout Social by 46.6% during the 3rd quarter. Impax Asset Management Group plc now owns 188,724 shares of the company's stock worth $5,486,000 after acquiring an additional 60,000 shares during the last quarter. Emerald Advisers LLC bought a new stake in shares of Sprout Social in the second quarter worth $4,345,000. Picton Mahoney Asset Management increased its holdings in Sprout Social by 642.5% in the first quarter. Picton Mahoney Asset Management now owns 21,830 shares of the company's stock valued at $1,304,000 after purchasing an additional 18,890 shares during the period. Clearbridge Investments LLC raised its position in Sprout Social by 2.4% during the 1st quarter. Clearbridge Investments LLC now owns 2,593,907 shares of the company's stock worth $154,882,000 after purchasing an additional 61,568 shares during the last quarter. Finally, Bamco Inc. NY lifted its holdings in Sprout Social by 25.8% during the 1st quarter. Bamco Inc. NY now owns 975,000 shares of the company's stock worth $58,217,000 after buying an additional 200,000 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.