Sprout Social (NASDAQ:SPT) Stock Rating Raised to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of Sprout Social (NASDAQ:SPT) from a hold rating to a strong-buy rating in a research report report published on Tuesday morning,Zacks reports.

A number of other equities research analysts also recently issued reports on SPT. Morgan Stanley increased their price objective on shares of Sprout Social from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 13th. KeyCorp boosted their target price on shares of Sprout Social from $7.00 to $10.00 and gave the company an “underweight” rating in a research report on Wednesday, November 4th. Cantor Fitzgerald upped their price target on shares of Sprout Social from $8.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, November 4th. Stifel Nicolaus upped their price target on shares of Sprout Social from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, October 14th. Finally, Wall Street Zen upgraded shares of Sprout Social from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $12.17.

Sprout Social Stock Performance

SPT opened at $11.41 on Tuesday. The firm has a market cap of $691.35 million, a P/E ratio of -25.36, a price-to-earnings-growth ratio of 1.15 and a beta of 0.95. Sprout Social has a 52-week low of $4.92 and a 52-week high of $13.35. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 0.91. The business’s fifty day moving average is $11.08 and its 200-day moving average is $8.32.

Sprout Social (NASDAQ:SPT) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.16. The company had revenue of $125.15 million for the quarter, compared to analysts’ expectations of $123.83 million. Sprout Social had a positive return on equity of 1.11% and a negative net margin of 5.42%. Sell-side analysts expect that Sprout Social will post 0.33 EPS for the current fiscal year.

Insider Activity at Sprout Social

In other news, insider Justyn Howard sold 40,000 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $81,735.34. The trade was a 84.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 51,612 shares of company stock worth $573,757. 9.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Haveli Investment Management LLC bought a new position in shares of Sprout Social in the second quarter worth about $16,405,033. Pale Fire Capital SE acquired a new stake in shares of Sprout Social in the 1st quarter valued at approximately $1,960,000. Renaissance Technologies LLC boosted its stake in shares of Sprout Social by 79.4% in the 1st quarter. Renaissance Technologies LLC now owns 727,762 shares of the company’s stock valued at $4,148,000 after purchasing an additional 322,200 shares in the last quarter. Pacer Advisors Inc. bought a new stake in shares of Sprout Social during the 1st quarter valued at approximately $1,500,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Sprout Social during the 2nd quarter valued at approximately $1,658,000.

Sprout Social Company Profile

Sprout Social, Inc. provides cloud-based software that helps organizations manage their social media presence. Its platform supports activities such as publishing and scheduling content, engaging with audiences, monitoring social conversations, and analyzing social media performance. The company’s tools also include social listening, customer care, and employee advocacy capabilities. Sprout Social serves businesses and agencies across a range of industries, helping teams coordinate social media work and gather insights from interactions across social networks.