Sprout Social (NASDAQ:SPT) Coverage Initiated by Analysts at Oppenheimer

Oppenheimer assumed coverage on shares of Sprout Social (NASDAQ:SPT - Get Free Report) in a note issued to investors on Thursday, Marketbeat.com reports. The firm set an "outperform" rating and a $76.00 price target on the stock. Oppenheimer's target price indicates a potential upside of 44.10% from the stock's current price.

A number of other equities research analysts have also issued reports on the company. Barclays dropped their target price on Sprout Social from $75.00 to $72.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 21st. The Goldman Sachs Group boosted their price target on Sprout Social from $65.00 to $81.00 and gave the company a "buy" rating in a research note on Tuesday, January 23rd. KeyCorp initiated coverage on Sprout Social in a report on Thursday, March 21st. They issued an "overweight" rating and a $83.00 price objective for the company. Stifel Nicolaus lifted their price objective on Sprout Social from $60.00 to $70.00 and gave the company a "buy" rating in a report on Friday, January 19th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $74.00 price target on shares of Sprout Social in a report on Wednesday, February 21st. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $72.57.

Sprout Social Trading Up 1.1 %

Sprout Social stock traded up $0.58 during mid-day trading on Thursday, hitting $52.74. The stock had a trading volume of 814,687 shares, compared to its average volume of 592,404. The stock has a 50-day simple moving average of $59.34 and a two-hundred day simple moving average of $56.74. The stock has a market capitalization of $2.97 billion, a PE ratio of -43.95 and a beta of 1.05. Sprout Social has a 12 month low of $37.00 and a 12 month high of $68.41. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.38.

Sprout Social (NASDAQ:SPT - Get Free Report) last released its earnings results on Tuesday, February 20th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.02). The company had revenue of $93.58 million during the quarter, compared to analyst estimates of $90.76 million. Sprout Social had a negative net margin of 19.91% and a negative return on equity of 41.25%. As a group, sell-side analysts forecast that Sprout Social will post -1.17 EPS for the current year.

Insider Buying and Selling

In other Sprout Social news, CFO Preto Joseph Del sold 1,500 shares of the company's stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $59.71, for a total value of $89,565.00. Following the sale, the chief financial officer now owns 127,322 shares in the company, valued at approximately $7,602,396.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Preto Joseph Del sold 1,500 shares of the company'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 owns 127,322 shares in the company, valued at approximately $7,602,396.62. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Ryan Paul Barretto sold 5,600 shares of the company's stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $59.63, for a total value of $333,928.00. Following the sale, the president now owns 209,375 shares in the company, valued at approximately $12,485,031.25. The disclosure for this sale can be found here. Insiders have sold 140,200 shares of company stock worth $8,171,958 in the last 90 days. Insiders own 11.93% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SPT. Wasatch Advisors LP raised its stake in shares of Sprout Social by 2.5% in the first quarter. Wasatch Advisors LP now owns 1,765,591 shares of the company's stock worth $105,423,000 after purchasing an additional 43,262 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Sprout Social by 2.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 334,661 shares of the company's stock valued at $19,983,000 after purchasing an additional 7,194 shares during the period. Diversified Trust Co grew its holdings in Sprout Social by 6.4% during the first quarter. Diversified Trust Co now owns 14,207 shares of the company's stock valued at $848,000 after purchasing an additional 852 shares during the period. WoodTrust Financial Corp grew its holdings in Sprout Social by 6.7% during the first quarter. WoodTrust Financial Corp now owns 23,800 shares of the company's stock valued at $1,421,000 after purchasing an additional 1,500 shares during the period. Finally, Moody National Bank Trust Division grew its holdings in Sprout Social by 2.8% during the first quarter. Moody National Bank Trust Division now owns 75,012 shares of the company's stock valued at $4,479,000 after purchasing an additional 2,043 shares during the period.

About Sprout Social

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.