Zacks Research Upgrades Sprout Social (NASDAQ:SPT) to “Strong-Buy”

Sprout Social (NASDAQ:SPT) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday, Zacks reports.

SPT has been the subject of several other reports. Wall Street Zen raised Sprout Social from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 15th. Cantor Fitzgerald boosted their target price on Sprout Social from $8.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 4th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sprout Social in a research report on Thursday, October 15th. Barclays upped their target price on Sprout Social from $12.00 to $14.00 and gave the company an “overweight” rating in a report on Thursday, November 5th. Finally, Needham & Company LLC restated a “buy” rating and issued a $14.00 price target on shares of Sprout Social in a research report on Wednesday, November 4th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Sprout Social has an average rating of “Hold” and an average price target of $12.17.

Sprout Social Price Performance

SPT stock opened at $11.41 on Tuesday. The firm has a 50 day moving average of $11.08 and a 200-day moving average of $8.32. Sprout Social has a 12-month low of $4.92 and a 12-month high of $13.35. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16. The company has a market cap of $691.35 million, a price-to-earnings ratio of -25.36, a PEG ratio of 1.15 and a beta of 0.95.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.29 by $0.16. The business had revenue of $125.15 million for the quarter, compared to analyst estimates of $123.83 million. Sprout Social had a positive return on equity of 1.11% and a negative net margin of 5.42%. As a group, equities analysts expect that Sprout Social will post 0.33 EPS for the current fiscal year.

Insider Transactions at Sprout Social

In other Sprout Social news, insider Justyn Howard sold 40,000 shares of the company’s stock in a transaction dated Friday, October 9th. The shares were sold at an average price of $11.02, for a total value of $440,800.00. Following the sale, the insider owned 7,417 shares of the company’s stock, valued at $81,735.34. This represents a 84.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 51,612 shares of company stock worth $573,757 in the last ninety days. Insiders own 9.60% of the company’s stock.

Institutional Trading of Sprout Social

Several large investors have recently modified their holdings of the business. Signaturefd LLC increased its stake in shares of Sprout Social by 33.8% during the 3rd quarter. Signaturefd LLC now owns 3,510 shares of the company’s stock worth $34,000 after purchasing an additional 886 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Sprout Social by 341.9% during the 3rd quarter. Parallel Advisors LLC now owns 4,406 shares of the company’s stock worth $43,000 after purchasing an additional 3,409 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Sprout Social during the 3rd quarter worth approximately $59,000. GAMMA Investing LLC lifted its stake in Sprout Social by 115.8% in the 2nd quarter. GAMMA Investing LLC now owns 6,368 shares of the company’s stock valued at $48,000 after buying an additional 3,417 shares in the last quarter. Finally, Essential Partners LLC lifted its stake in Sprout Social by 724.9% in the 1st quarter. Essential Partners LLC now owns 6,550 shares of the company’s stock valued at $37,000 after buying an additional 5,756 shares in the last quarter.

Sprout Social Company Profile

Sprout Social, Inc. provides cloud-based software that helps organizations manage their social media presence. Its platform supports activities such as publishing and scheduling content, engaging with audiences, monitoring social conversations, and analyzing social media performance. The company’s tools also include social listening, customer care, and employee advocacy capabilities. Sprout Social serves businesses and agencies across a range of industries, helping teams coordinate social media work and gather insights from interactions across social networks.