Sprout Social (NASDAQ:SPT) Stock Gets Price Target Bump from Barclays

Sprout Social (NASDAQ:SPT) had its price target boosted by Barclays from $12.00 to $14.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 26.58% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Canaccord Genuity Group increased their target price on shares of Sprout Social from $10.00 to $13.50 and gave the stock a “hold” rating in a research report on Wednesday. Weiss Ratings restated a “sell (e+)” rating on shares of Sprout Social in a report on Thursday, October 15th. KeyCorp boosted their price target on Sprout Social from $7.00 to $10.00 and gave the stock an “underweight” rating in a research report on Wednesday. Morgan Stanley upped their price target on Sprout Social from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 13th. Finally, Cantor Fitzgerald increased their price objective on Sprout Social from $8.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Sprout Social presently has a consensus rating of “Hold” and a consensus target price of $12.17.

Sprout Social Stock Up 2.3%

SPT stock traded up $0.25 during trading hours on Thursday, hitting $11.06. The company’s stock had a trading volume of 1,141,929 shares, compared to its average volume of 780,982. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $670.13 million, a PE ratio of -24.58 and a beta of 0.95. Sprout Social has a 12 month low of $4.92 and a 12 month high of $13.35. The stock has a 50 day moving average price of $11.09 and a two-hundred day moving average price of $8.30.

Sprout Social (NASDAQ:SPT) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.16. The business had revenue of $125.15 million for the quarter, compared to the consensus estimate of $123.83 million. Sprout Social had a negative net margin of 6.13% and a negative return on equity of 8.80%. On average, equities research analysts expect that Sprout Social will post -0.02 earnings per share for the current year.

Insider Activity at Sprout Social

In related news, insider Justyn Howard sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, October 9th. The stock was sold at an average price of $11.02, for a total transaction of $440,800.00. Following the completion of the transaction, the insider owned 7,417 shares in the company, valued at $81,735.34. This trade represents a 84.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 51,612 shares of company stock worth $573,757. 9.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sprout Social

A number of large investors have recently bought and sold shares of SPT. Haveli Investment Management LLC acquired a new stake in shares of Sprout Social in the second quarter valued at approximately $16,405,033. Renaissance Technologies LLC lifted its holdings in Sprout Social by 79.4% during the 1st quarter. Renaissance Technologies LLC now owns 727,762 shares of the company’s stock worth $4,148,000 after buying an additional 322,200 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Sprout Social by 46.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 442,496 shares of the company’s stock worth $2,522,000 after buying an additional 141,258 shares in the last quarter. Pale Fire Capital SE acquired a new position in Sprout Social during the 1st quarter worth $1,960,000. Finally, Pacer Advisors Inc. bought a new position in Sprout Social in the 1st quarter valued at $1,500,000.

About Sprout Social

Sprout Social, Inc is a software company that provides a cloud-based social media management platform for businesses and organizations. Its platform helps customers manage social media publishing, engagement, customer care, analytics, listening and employee advocacy from a centralized environment.

The company’s products are designed to help marketing, communications, sales and customer service teams plan and publish content, monitor conversations, respond to audiences, evaluate social media performance and gain insights from online activity.