Sprout Social's (SPT) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Sprout Social (NASDAQ:SPT - Free Report) in a research report released on Tuesday, Benzinga reports. They currently have a $75.00 price target on the stock.

Several other research firms have also commented on SPT. The Goldman Sachs Group raised their target price on Sprout Social from $65.00 to $81.00 and gave the stock a buy rating in a report on Tuesday, January 23rd. Stifel Nicolaus lifted their price target on Sprout Social from $60.00 to $70.00 and gave the stock a buy rating in a research note on Friday, January 19th. Cantor Fitzgerald reiterated an overweight rating and set a $74.00 price objective on shares of Sprout Social in a research report on Wednesday, February 21st. Canaccord Genuity Group reiterated a buy rating and set a $70.00 price objective on shares of Sprout Social in a research report on Wednesday, February 21st. Finally, Jefferies Financial Group assumed coverage on Sprout Social in a research report on Wednesday, February 7th. They issued a buy rating and a $76.00 target price on the stock. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $71.54.

Sprout Social Price Performance

Shares of SPT traded down $2.16 during mid-day trading on Tuesday, hitting $52.95. 2,034,005 shares of the stock were exchanged, compared to its average volume of 586,086. The company has a market cap of $2.98 billion, a PE ratio of -44.12 and a beta of 1.05. Sprout Social has a 52-week low of $37.00 and a 52-week high of $68.41. The firm has a 50-day moving average of $59.72 and a two-hundred day moving average of $56.80. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.08 and a current ratio of 1.08.

Sprout Social (NASDAQ:SPT - Get Free Report) last released its quarterly 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 for the quarter, compared to analysts' expectations of $90.76 million. Sprout Social had a negative net margin of 19.91% and a negative return on equity of 41.25%. On average, equities analysts predict that Sprout Social will post -1.17 earnings per share for the current year.

Insider Activity

In other Sprout Social news, President Ryan Paul Barretto sold 5,600 shares of the company's stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $59.63, for a total value of $333,928.00. Following the completion of the sale, the president now directly owns 209,375 shares in the company, valued at $12,485,031.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Sprout Social news, President Ryan Paul Barretto sold 5,600 shares of the business's stock in a transaction on 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Aaron Edward Frederick Rankin sold 44,000 shares of the company's stock in a transaction on Monday, February 5th. The stock was sold at an average price of $59.60, for a total transaction of $2,622,400.00. Following the completion of the transaction, the director now directly owns 40,888 shares in the company, valued at $2,436,924.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 140,200 shares of company stock valued at $8,171,958. Insiders own 11.93% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. boosted its stake in Sprout Social by 21.2% in the third quarter. Advisors Asset Management Inc. now owns 1,087 shares of the company's stock valued at $54,000 after acquiring an additional 190 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Sprout Social by 1.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 18,585 shares of the company's stock valued at $1,049,000 after buying an additional 192 shares during the last quarter. Atria Wealth Solutions Inc. increased its stake in shares of Sprout Social by 4.7% during the 3rd quarter. Atria Wealth Solutions Inc. now owns 4,654 shares of the company's stock worth $232,000 after purchasing an additional 208 shares during the last quarter. Arcadia Investment Management Corp MI increased 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, Verdence Capital Advisors LLC boosted its holdings in shares of Sprout Social by 3.2% during the 4th quarter. Verdence Capital Advisors LLC now owns 7,345 shares of the company's stock worth $451,000 after buying an additional 225 shares during the period.

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.