Sprout Social (NASDAQ:SPT) Given New $42.00 Price Target at Jefferies Financial Group

Sprout Social (NASDAQ:SPT) had its target price raised by Jefferies Financial Group from $34.00 to $42.00 in a report published on Monday morning,Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.

Other equities analysts have also recently issued reports about the company. Barclays reduced their price objective on Sprout Social from $48.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Morgan Stanley boosted their price objective on shares of Sprout Social from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Piper Sandler dropped their target price on shares of Sprout Social from $40.00 to $29.00 and set a “neutral” rating for the company in a report on Monday, November 11th. Oppenheimer lowered their price target on shares of Sprout Social from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 3rd. Finally, Scotiabank assumed coverage on Sprout Social in a research report on Monday, November 18th. They set a “sector perform” rating and a $28.00 price target for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Sprout Social currently has a consensus rating of “Hold” and an average target price of $39.58.

Sprout Social Stock Up 1.4 %

Shares of Sprout Social stock opened at $33.13 on Monday. The company has a market cap of $1.90 billion, a P/E ratio of -27.61 and a beta of 1.06. The firm has a fifty day moving average of $32.44 and a two-hundred day moving average of $31.05. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96. Sprout Social has a one year low of $25.05 and a one year high of $68.41.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). The business had revenue of $102.64 million during the quarter, compared to analysts’ expectations of $102.04 million. Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. On average, analysts forecast that Sprout Social will post -0.99 earnings per share for the current year.

Insider Activity

In other news, insider Justyn Russell Howard sold 40,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $31.67, for a total value of $1,266,800.00. Following the completion of the sale, the insider now owns 27,136 shares of the company’s stock, valued at approximately $859,397.12. The trade was a 59.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Karen Walker sold 5,000 shares of the stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $30.26, for a total transaction of $151,300.00. Following the transaction, the director now directly owns 30,665 shares in the company, valued at $927,922.90. The trade was a 14.02 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 80,265 shares of company stock valued at $2,533,406. Company insiders own 10.97% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SPT. Diversified Trust Co boosted its holdings in Sprout Social by 3.8% in the third quarter. Diversified Trust Co now owns 15,770 shares of the company’s stock worth $458,000 after purchasing an additional 571 shares during the period. Truist Financial Corp grew its position in shares of Sprout Social by 6.1% during the 2nd quarter. Truist Financial Corp now owns 11,260 shares of the company’s stock valued at $402,000 after buying an additional 646 shares during the last quarter. Quarry LP raised its stake in Sprout Social by 2,346.9% during the second quarter. Quarry LP now owns 783 shares of the company’s stock worth $28,000 after acquiring an additional 751 shares during the period. Assetmark Inc. lifted its holdings in Sprout Social by 27.5% in the third quarter. Assetmark Inc. now owns 3,717 shares of the company’s stock worth $108,000 after acquiring an additional 801 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in Sprout Social by 5.4% in the third quarter. Franklin Resources Inc. now owns 20,256 shares of the company’s stock valued at $576,000 after acquiring an additional 1,034 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.