Sprout Social (NASDAQ:SPT) Price Target Raised to $13.50

Sprout Social (NASDAQ:SPT) had its target price boosted by Canaccord Genuity Group from $10.00 to $13.50 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has a hold rating on the stock.

Other analysts have also issued research reports about the stock. KeyCorp increased their price target on shares of Sprout Social from $7.00 to $10.00 and gave the stock an “underweight” rating in a research report on Wednesday. Cantor Fitzgerald boosted their price objective on shares of Sprout Social from $8.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday. Zacks Research cut Sprout Social from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 12th. Barclays lifted their price target on Sprout Social from $9.00 to $12.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Finally, Morgan Stanley boosted their price target on Sprout Social from $10.00 to $11.00 and gave the stock an “equal weight” rating in a report on Thursday, August 13th. Four 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 data from MarketBeat.com, Sprout Social currently has a consensus rating of “Hold” and an average price target of $12.17.

Sprout Social Price Performance

Shares of NASDAQ SPT traded up $0.25 during mid-day trading on Wednesday, reaching $11.06. The company had a trading volume of 1,141,929 shares, compared to its average volume of 780,982. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.03 and a current ratio of 1.03. Sprout Social has a one year low of $4.92 and a one year high of $13.35. The firm has a market cap of $670.13 million, a price-to-earnings ratio of -24.58 and a beta of 0.95. The business’s 50-day simple moving average is $11.09 and its 200 day simple moving average is $8.30.

Sprout Social (NASDAQ:SPT) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.16. The business had revenue of $125.15 million during the quarter, compared to analysts’ expectations 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, research analysts predict that Sprout Social will post -0.02 earnings per share for the current fiscal year.

Insider Transactions at Sprout Social

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

Institutional Trading of Sprout Social

Hedge funds and other institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. boosted its holdings in shares of Sprout Social by 57.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 47,432 shares of the company’s stock valued at $463,000 after acquiring an additional 17,355 shares in the last quarter. Parallel Advisors LLC increased its holdings in Sprout Social by 341.9% in the 3rd quarter. Parallel Advisors LLC now owns 4,406 shares of the company’s stock worth $43,000 after purchasing an additional 3,409 shares in the last quarter. CenterBook Partners LP acquired a new position in Sprout Social in the 3rd quarter worth about $207,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Sprout Social in the third quarter valued at about $59,000. Finally, Vise Technologies Inc. raised its position in Sprout Social by 41.4% in the third quarter. Vise Technologies Inc. now owns 21,005 shares of the company’s stock valued at $205,000 after purchasing an additional 6,149 shares during the last quarter.

Sprout Social Company Profile

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.