Sprout Social (NASDAQ:SPT) had its price objective hoisted by research analysts at BTIG Research from $80.00 to $110.00 in a note issued to investors on Thursday, The Fly reports. The brokerage presently has a "buy" rating on the stock. BTIG Research's price objective would indicate a potential upside of 24.50% from the company's current price.
Other equities analysts also recently issued research reports about the stock. Robert W. Baird increased their price objective on shares of Sprout Social from $85.00 to $93.00 and gave the company an "outperform" rating in a research note on Friday, June 18th. Morgan Stanley increased their price target on Sprout Social from $53.00 to $81.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 24th. Canaccord Genuity boosted their price objective on Sprout Social from $50.00 to $77.00 and gave the stock a "buy" rating in a research report on Wednesday, February 24th. Piper Sandler began coverage on Sprout Social in a research report on Tuesday, April 27th. They issued an "overweight" rating and a $86.00 target price for the company. Finally, Barclays lifted their price target on Sprout Social from $68.00 to $84.00 and gave the company an "overweight" rating in a research note on Wednesday, February 24th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. The company has an average rating of "Buy" and a consensus price target of $78.00.
NASDAQ SPT opened at $88.35 on Thursday. The business's fifty day simple moving average is $68.81. Sprout Social has a fifty-two week low of $24.55 and a fifty-two week high of $93.00. The company has a market capitalization of $4.73 billion, a PE ratio of -169.90 and a beta of 1.02.
Sprout Social (NASDAQ:SPT) last posted its quarterly earnings results on Tuesday, May 4th. The company reported ($0.05) EPS for the quarter, topping analysts' consensus estimates of ($0.10) by $0.05. The business had revenue of $40.80 million for the quarter, compared to analyst estimates of $39.73 million. Sprout Social's quarterly revenue was up 33.8% on a year-over-year basis. On average, research analysts predict that Sprout Social will post -0.6 earnings per share for the current year.
In related news, President Ryan Paul Barretto sold 5,600 shares of Sprout Social stock in a transaction on Thursday, April 1st. The shares were sold at an average price of $59.20, for a total transaction of $331,520.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Justyn Russell Howard sold 20,000 shares of the business's stock in a transaction on Thursday, April 8th. The shares were sold at an average price of $61.03, for a total transaction of $1,220,600.00. The disclosure for this sale can be found here. Insiders have sold 250,297 shares of company stock valued at $17,163,205 over the last 90 days. 14.86% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. Baillie Gifford & Co. acquired a new stake in shares of Sprout Social during the 4th quarter worth approximately $26,000. Point72 Hong Kong Ltd acquired a new stake in Sprout Social in the first quarter worth $51,000. Eaton Vance Management acquired a new stake in Sprout Social in the first quarter worth $52,000. O Shaughnessy Asset Management LLC bought a new stake in Sprout Social in the first quarter valued at $97,000. Finally, Harbour Investments Inc. acquired a new position in shares of Sprout Social during the first quarter valued at about $168,000. 73.57% of the stock is owned by hedge funds and other institutional investors.
About Sprout Social
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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