Sprout Social (NASDAQ:SPT) Shares Gap Up to $57.65


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Sprout Social, Inc. (NASDAQ:SPT)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $57.65, but opened at $59.52. Sprout Social shares last traded at $60.49, with a volume of 3,077 shares traded.

Several research analysts have recently issued reports on the company. KeyCorp increased their price target on Sprout Social from $55.00 to $81.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 24th. Morgan Stanley increased their price target on Sprout Social from $53.00 to $81.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 2nd. Barclays increased their price target on Sprout Social from $68.00 to $84.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 2nd. Canaccord Genuity increased their price target on Sprout Social from $50.00 to $77.00 and gave the stock a “buy” rating in a research note on Tuesday, March 2nd. Finally, BTIG Research raised their target price on Sprout Social from $71.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, February 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $65.11.

The company has a 50 day moving average of $62.44 and a two-hundred day moving average of $55.50. The firm has a market cap of $3.16 billion and a P/E ratio of -35.81.

Sprout Social (NASDAQ:SPT) last released its quarterly earnings results on Tuesday, February 23rd. The company reported ($0.06) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.05. The company had revenue of $37.30 million during the quarter, compared to analyst estimates of $35.87 million. The company’s revenue for the quarter was up 32.7% on a year-over-year basis. On average, equities analysts predict that Sprout Social, Inc. will post -0.68 earnings per share for the current year.

In related news, CTO Aaron Edward Frederick Rankin sold 37,000 shares of the stock in a transaction dated Wednesday, January 20th. The stock was sold at an average price of $64.64, for a total value of $2,391,680.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Preto Joseph Del sold 2,556 shares of the stock in a transaction dated Monday, April 5th. The stock was sold at an average price of $57.64, for a total value of $147,327.84. The disclosure for this sale can be found here. Insiders sold a total of 188,223 shares of company stock valued at $11,792,153 in the last quarter.

Institutional investors have recently made changes to their positions in the stock. California Public Employees Retirement System lifted its stake in Sprout Social by 7.1% in the 4th quarter. California Public Employees Retirement System now owns 60,622 shares of the company’s stock worth $2,753,000 after acquiring an additional 4,022 shares in the last quarter. California State Teachers Retirement System lifted its stake in Sprout Social by 243.9% in the 3rd quarter. California State Teachers Retirement System now owns 41,224 shares of the company’s stock worth $1,587,000 after acquiring an additional 29,238 shares in the last quarter. Squarepoint Ops LLC lifted its stake in Sprout Social by 48.0% in the 3rd quarter. Squarepoint Ops LLC now owns 28,057 shares of the company’s stock worth $1,080,000 after acquiring an additional 9,097 shares in the last quarter. Caas Capital Management LP purchased a new stake in Sprout Social in the 4th quarter worth about $11,200,000. Finally, First Trust Advisors LP lifted its stake in Sprout Social by 1,649.0% in the 4th quarter. First Trust Advisors LP now owns 869,124 shares of the company’s stock worth $39,467,000 after acquiring an additional 819,431 shares in the last quarter. 77.51% of the stock is owned by hedge funds and other institutional investors.

Sprout Social Company Profile (NASDAQ:SPT)

Sprout Social, Inc designs, develops, and operates a web-based social media management tool in Americas, EMEA, and the Asia Pacific. The company offers cloud software that brings together social messaging, data, and workflows in a unified system of record, intelligence, and action. It provides various integrated tools in a range of functions comprising social engagement/response, publishing, reporting and analytics, social listening and business intelligence, reputation management, employee advocacy, and automation and workflows.

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