Barclays Issues Positive Forecast for Sprout Social (NASDAQ:SPT) Stock Price

Sprout Social (NASDAQ:SPT) had its price objective lifted by Barclays from $12.00 to $14.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms have also commented on SPT. Weiss Ratings restated a “sell (e+)” rating on shares of Sprout Social in a report on Thursday, October 15th. Canaccord Genuity Group increased their price objective on shares of Sprout Social from $10.00 to $13.50 and gave the company a “hold” rating in a research note on Wednesday. Needham & Company LLC reissued a “buy” rating and set a $14.00 price objective on shares of Sprout Social in a report on Wednesday. Wall Street Zen raised shares of Sprout Social from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 15th. Finally, Morgan Stanley boosted their price objective on shares of Sprout Social from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 13th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $12.17.

Sprout Social Price Performance

SPT opened at $10.81 on Thursday. 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 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.14. The business’s fifty day simple moving average is $11.09 and its 200-day simple moving average is $8.29. The company has a market capitalization of $655.00 million, a price-to-earnings ratio of -24.02 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, beating the consensus estimate of $0.29 by $0.16. The firm 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 1.09% and a negative net margin of 5.42%. On average, equities research analysts anticipate that Sprout Social will post -0.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Sprout Social news, insider Justyn Howard sold 40,000 shares of the business’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 completion of the transaction, the insider directly owned 7,417 shares in the company, valued at approximately $81,735.34. The trade was a 84.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 51,612 shares of company stock valued at $573,757 in the last ninety days. Insiders own 9.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Parallel Advisors LLC grew its holdings in Sprout Social by 341.9% in the third 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. CenterBook Partners LP acquired a new position in shares of Sprout Social during the third quarter worth $207,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Sprout Social during the 3rd quarter valued at $59,000. Vise Technologies Inc. lifted its holdings in shares of Sprout Social by 41.4% during 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 during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. boosted its position in shares of Sprout Social by 201.6% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 9,647 shares of the company’s stock worth $94,000 after purchasing an additional 6,448 shares in the last quarter.

Trending Headlines about Sprout Social

Here are the key news stories impacting Sprout Social this week:

• Positive Sentiment: Sprout Social reported Q3 earnings of $0.45 per share, above the roughly $0.30 consensus, and revenue also topped estimates. Zacks Q3 earnings report
• Positive Sentiment: Barclays raised its price target to $14 and maintained an Overweight rating. Stifel also lifted its target to $15, supporting the bullish case. Stifel price target report
• Neutral Sentiment: Canaccord raised its target to $13.50 but kept a Hold rating; Cantor Fitzgerald raised its target to $13 and maintained Neutral. KeyCorp increased its target to $10 but retained an Underweight rating, reflecting continued analyst caution.
• Negative Sentiment: Despite the Q3 beat, Sprout Social’s quarterly revenue outlook came in slightly below expectations. This guidance shortfall has been cited alongside the share-price pressure following results. Q3 results and revenue guidance

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.