Sprout Social (NASDAQ:SPT) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Sprout Social (NASDAQ:SPT) in a report released on Friday morning, Benzinga reports. Needham & Company LLC currently has a $55.00 target price on the stock.

Several other analysts have also commented on SPT. Barclays dropped their price objective on Sprout Social from $50.00 to $48.00 and set an overweight rating on the stock in a report on Tuesday, July 16th. Robert W. Baird dropped their price objective on Sprout Social from $45.00 to $38.00 and set a neutral rating on the stock in a report on Thursday, June 27th. Oppenheimer dropped their price objective on Sprout Social from $76.00 to $43.00 and set an outperform rating on the stock in a report on Friday, May 3rd. Piper Sandler lowered Sprout Social from an overweight rating to a neutral rating and dropped their price objective for the company from $66.00 to $40.00 in a report on Friday, May 3rd. Finally, The Goldman Sachs Group lowered Sprout Social from a buy rating to a neutral rating and dropped their price objective for the company from $80.00 to $44.00 in a report on Friday, May 3rd. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $56.57.

Sprout Social Price Performance

Shares of NASDAQ:SPT opened at $32.93 on Friday. Sprout Social has a 52-week low of $25.68 and a 52-week high of $68.41. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.97 and a current ratio of 0.97. The business has a 50-day moving average price of $35.08 and a 200-day moving average price of $47.41.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.10. The company had revenue of $96.78 million during the quarter, compared to analysts’ expectations of $97.29 million. Sprout Social had a negative return on equity of 44.88% and a negative net margin of 19.60%. As a group, equities research analysts predict that Sprout Social will post -0.84 earnings per share for the current year.

Insider Transactions at Sprout Social

In other Sprout Social news, Director Aaron Edward Frederick Rankin sold 1,184 shares of Sprout Social stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $32.14, for a total value of $38,053.76. Following the sale, the director now owns 43,303 shares in the company, valued at $1,391,758.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, President Ryan Paul Barretto sold 15,586 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $32.14, for a total value of $500,934.04. Following the sale, the president now owns 484,115 shares in the company, valued at approximately $15,559,456.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Aaron Edward Frederick Rankin sold 1,184 shares of the business’s stock in a transaction 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 owns 43,303 shares in the company, valued at approximately $1,391,758.42. The disclosure for this sale can be found here. Insiders have sold 92,470 shares of company stock valued at $3,063,248 over the last ninety days. Insiders own 10.97% of the company’s stock.

Institutional Investors Weigh In On Sprout Social

Several institutional investors and hedge funds have recently modified their holdings of the company. Public Employees Retirement Association of Colorado grew its stake in Sprout Social by 2,935.8% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 208,164 shares of the company’s stock worth $12,790,000 after purchasing an additional 201,307 shares in the last quarter. Stifel Financial Corp grew its stake in Sprout Social by 77.5% during the 4th quarter. Stifel Financial Corp now owns 95,789 shares of the company’s stock worth $5,885,000 after purchasing an additional 41,834 shares in the last quarter. Los Angeles Capital Management LLC grew its stake in Sprout Social by 67.2% during the 4th quarter. Los Angeles Capital Management LLC now owns 19,031 shares of the company’s stock worth $1,169,000 after purchasing an additional 7,646 shares in the last quarter. Knights of Columbus Asset Advisors LLC boosted its position in shares of Sprout Social by 162.5% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 74,357 shares of the company’s stock worth $4,568,000 after acquiring an additional 46,033 shares in the last quarter. Finally, Picton Mahoney Asset Management boosted its position in shares of Sprout Social by 642.5% during the 1st quarter. Picton Mahoney Asset Management now owns 21,830 shares of the company’s stock worth $1,304,000 after acquiring an additional 18,890 shares in 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.