Sprout Social (NASDAQ:SPT) Price Target Raised to $10.00

Sprout Social (NASDAQ:SPT) had its target price increased by KeyCorp from $7.00 to $10.00 in a research note released on Wednesday,Benzinga reports. KeyCorp currently has an underweight rating on the stock.

A number of other analysts have also issued reports on SPT. Barclays boosted their target price on shares of Sprout Social from $9.00 to $12.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sprout Social in a research note on Thursday, October 15th. Stifel Nicolaus lifted their price objective on shares of Sprout Social from $12.00 to $14.00 and gave the company a “buy” rating in a report on Wednesday, October 14th. Needham & Company LLC reissued a “buy” rating and issued a $14.00 price objective on shares of Sprout Social in a research report on Wednesday. Finally, Zacks Research downgraded shares of Sprout Social from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 12th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $12.17.

Sprout Social Trading Up 2.3%

SPT traded up $0.25 during trading hours on Wednesday, reaching $11.06. 1,141,929 shares of the company’s stock traded hands, compared to its average volume of 780,982. The firm has a 50-day moving average price of $11.09 and a 200 day moving average price of $8.30. Sprout Social has a 52-week low of $4.92 and a 52-week high of $13.35. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $670.13 million, a PE ratio of -24.58 and a beta of 0.95.

Sprout Social (NASDAQ:SPT) last released its earnings results on Tuesday, November 3rd. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.16. Sprout Social had a negative return on equity of 8.80% and a negative net margin of 6.13%. The business had revenue of $125.15 million for the quarter, compared to analyst estimates of $123.83 million. As a group, sell-side analysts predict that Sprout Social will post -0.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other Sprout Social news, insider Justyn Howard sold 40,000 shares of Sprout Social stock in a transaction on Friday, October 9th. The stock was sold at an average price of $11.02, for a total transaction of $440,800.00. Following the completion of the sale, the insider directly owned 7,417 shares of the company’s stock, valued at $81,735.34. The trade was a 84.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 51,612 shares of company stock worth $573,757. Insiders own 9.60% 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. Russell Investments Group Ltd. raised its holdings in shares of Sprout Social by 57.7% in the third quarter. Russell Investments Group Ltd. now owns 47,432 shares of the company’s stock valued at $463,000 after acquiring an additional 17,355 shares in the last quarter. Parallel Advisors LLC increased its position in Sprout Social by 341.9% during the 3rd quarter. Parallel Advisors LLC now owns 4,406 shares of the company’s stock valued at $43,000 after purchasing an additional 3,409 shares during the period. CenterBook Partners LP purchased a new position in Sprout Social during the 3rd quarter valued at about $207,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Sprout Social in the 3rd quarter valued at about $59,000. Finally, Vise Technologies Inc. raised its holdings in shares of Sprout Social by 41.4% in the 3rd quarter. Vise Technologies Inc. now owns 21,005 shares of the company’s stock valued at $205,000 after purchasing an additional 6,149 shares in the last quarter.

Sprout Social Company Profile

Sprout Social, Inc is a software company that provides a cloud-based social media management platform for businesses and organizations. Its platform helps customers manage social media publishing, engagement, customer care, analytics, listening and employee advocacy from a centralized environment.

The company’s products are designed to help marketing, communications, sales and customer service teams plan and publish content, monitor conversations, respond to audiences, evaluate social media performance and gain insights from online activity.