Oppenheimer Begins Coverage on Sprout Social (NASDAQ:SPT)

Equities researchers at Oppenheimer assumed coverage on shares of Sprout Social (NASDAQ:SPT) in a research report issued to clients and investors on Thursday, Briefing.com reports. The firm set an “outperform” rating and a $76.00 price target on the stock. Oppenheimer’s price target suggests a potential upside of 45.71% from the stock’s current price.

A number of other equities analysts also recently commented on SPT. Barclays cut their price objective on shares of Sprout Social from $75.00 to $72.00 and set an “overweight” rating for the company in a research report on Wednesday, February 21st. Needham & Company LLC restated a “buy” rating and set a $75.00 price objective on shares of Sprout Social in a research report on Tuesday. The Goldman Sachs Group upped their price objective on shares of Sprout Social from $65.00 to $81.00 and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. KeyCorp initiated coverage on shares of Sprout Social in a research report on Thursday, March 21st. They set an “overweight” rating and a $83.00 price objective for the company. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $70.00 price target on shares of Sprout Social in a research note on Wednesday, February 21st. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $72.57.

Sprout Social Stock Down 1.5 %

SPT stock opened at $52.16 on Thursday. The company has a fifty day moving average price of $59.55 and a 200 day moving average price of $56.76. Sprout Social has a 12 month low of $37.00 and a 12 month high of $68.41. The company has a market cap of $2.93 billion, a price-to-earnings ratio of -43.47 and a beta of 1.05. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.08 and a quick ratio of 1.08.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings data on Tuesday, February 20th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). The firm had revenue of $93.58 million for the quarter, compared to analysts’ expectations of $90.76 million. Sprout Social had a negative return on equity of 41.25% and a negative net margin of 19.91%. Sell-side analysts expect that Sprout Social will post -1.17 earnings per share for the current year.

Insider Activity at Sprout Social

In related news, CFO Preto Joseph Del sold 1,500 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $59.71, for a total value of $89,565.00. Following the sale, the chief financial officer now directly owns 127,322 shares of the company’s stock, valued at approximately $7,602,396.62. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Sprout Social news, President Ryan Paul Barretto sold 5,600 shares of the firm’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $59.63, for a total transaction of $333,928.00. Following the sale, the president now directly owns 209,375 shares of the company’s stock, valued at approximately $12,485,031.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Preto Joseph Del sold 1,500 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $59.71, for a total transaction of $89,565.00. Following the sale, the chief financial officer now directly owns 127,322 shares in the company, valued at $7,602,396.62. The disclosure for this sale can be found here. In the last three months, insiders have sold 140,200 shares of company stock valued at $8,171,958. Insiders own 11.93% of the company’s stock.

Institutional Investors Weigh In On Sprout Social

Several hedge funds have recently modified their holdings of SPT. State of Wyoming acquired a new stake in shares of Sprout Social during the 2nd quarter worth about $29,000. Acadian Asset Management LLC acquired a new stake in shares of Sprout Social during the 1st quarter worth about $32,000. RiverPark Advisors LLC acquired a new stake in shares of Sprout Social during the 3rd quarter worth about $37,000. Arcadia Investment Management Corp MI boosted its stake in shares of Sprout Social by 40.3% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 766 shares of the company’s stock worth $38,000 after purchasing an additional 220 shares during the last quarter. Finally, Guinness Atkinson Asset Management Inc acquired a new stake in shares of Sprout Social during the 3rd quarter worth about $40,000.

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.