Sprout Social (NASDAQ:SPT) Price Target Raised to $37.00 at Morgan Stanley

Sprout Social (NASDAQ:SPT) had its price target upped by analysts at Morgan Stanley from $36.00 to $37.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 20.44% from the company’s current price.

A number of other research firms have also commented on SPT. Needham & Company LLC restated a “buy” rating and set a $55.00 price target on shares of Sprout Social in a research report on Friday, November 8th. Oppenheimer decreased their target price on Sprout Social from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Tuesday, December 3rd. Piper Sandler cut their price target on Sprout Social from $40.00 to $29.00 and set a “neutral” rating for the company in a report on Monday, November 11th. Barclays decreased their price objective on shares of Sprout Social from $48.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Finally, Scotiabank assumed coverage on shares of Sprout Social in a research note on Monday, November 18th. They issued a “sector perform” rating and a $28.00 target price for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $44.54.

Sprout Social Stock Up 1.1 %

Shares of NASDAQ SPT opened at $30.72 on Monday. The business has a fifty day moving average of $31.47 and a two-hundred day moving average of $31.35. 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 52-week low of $25.05 and a 52-week high of $68.41. The stock has a market cap of $1.76 billion, a PE ratio of -25.60 and a beta of 1.03.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.06). The firm had revenue of $102.64 million for the quarter, compared to the consensus estimate of $102.04 million. Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. As a group, equities research analysts expect that Sprout Social will post -0.98 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Ryan Paul Barretto sold 13,465 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $31.45, for a total value of $423,474.25. Following the sale, the chief executive officer now directly owns 546,343 shares in the company, valued at $17,182,487.35. This trade represents a 2.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Karen Walker sold 5,000 shares of Sprout Social stock in a transaction that occurred on 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 sold 40,265 shares of company stock valued at $1,266,606. Company insiders own 10.97% of the company’s stock.

Hedge Funds Weigh In On Sprout Social

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP increased its position in shares of Sprout Social by 2,346.9% in the 2nd quarter. Quarry LP now owns 783 shares of the company’s stock valued at $28,000 after buying an additional 751 shares in the last quarter. Assetmark Inc. increased its holdings in shares of 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 in the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Sprout Social during the second quarter worth about $218,000. Entropy Technologies LP bought a new position in shares of Sprout Social during the 3rd quarter valued at about $265,000. Finally, CFM Wealth Partners LLC acquired a new position in shares of Sprout Social in the 3rd quarter valued at approximately $355,000.

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.