Needham & Company LLC Reaffirms Buy Rating for Sprout Social (NASDAQ:SPT)

Needham & Company LLC restated their buy rating on shares of Sprout Social (NASDAQ:SPT) in a research note released on Friday morning,Benzinga reports. Needham & Company LLC currently has a $55.00 price target on the stock.

Other research analysts have also issued research reports about the company. Cantor Fitzgerald reissued an “overweight” rating and set a $46.00 price objective on shares of Sprout Social in a report on Friday, August 2nd. Robert W. Baird lifted their price objective on Sprout Social from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. KeyCorp downgraded Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 target price for the company. in a research report on Thursday, August 22nd. Oppenheimer decreased their price objective on Sprout Social from $43.00 to $40.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, Barclays decreased their price objective on Sprout Social from $48.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Sprout Social currently has an average rating of “Hold” and an average target price of $47.08.

Sprout Social Stock Up 7.1 %

SPT opened at $28.60 on Friday. Sprout Social has a fifty-two week low of $25.05 and a fifty-two week high of $68.41. The business has a 50-day moving average of $28.08 and a 200-day moving average of $32.09. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market capitalization of $1.63 billion, a PE ratio of -23.83 and a beta of 0.99.

Sprout Social (NASDAQ:SPT) last posted its quarterly earnings results 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). Sprout Social had a negative return on equity of 41.65% and a negative net margin of 17.24%. The firm had revenue of $102.64 million for the quarter, compared to analysts’ expectations of $102.04 million. Equities research analysts forecast that Sprout Social will post -0.9 EPS for the current fiscal year.

Insider Activity

In related news, CFO Preto Joseph Del sold 1,500 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $29.81, for a total transaction of $44,715.00. Following the sale, the chief financial officer now owns 162,624 shares of the company’s stock, valued at $4,847,821.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Sprout Social news, President Ryan Paul Barretto sold 13,306 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $29.23, for a total value of $388,934.38. Following the sale, the president now owns 470,809 shares of the company’s stock, valued at approximately $13,761,747.07. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Preto Joseph Del sold 1,500 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $29.81, for a total value of $44,715.00. Following the completion of the sale, the chief financial officer now directly owns 162,624 shares in the company, valued at approximately $4,847,821.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 62,882 shares of company stock valued at $1,801,351. 10.97% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. EntryPoint Capital LLC bought a new position in Sprout Social during the 1st quarter worth $37,000. Covestor Ltd grew its holdings in Sprout Social by 35,450.0% during the 1st quarter. Covestor Ltd now owns 711 shares of the company’s stock worth $42,000 after acquiring an additional 709 shares during the period. Quarry LP grew its holdings in Sprout Social by 2,346.9% during the 2nd quarter. Quarry LP now owns 783 shares of the company’s stock worth $28,000 after acquiring an additional 751 shares during the period. Bessemer Group Inc. acquired a new stake in shares of Sprout Social in the 1st quarter valued at about $61,000. Finally, Lazard Asset Management LLC boosted its stake in Sprout Social by 49.0% during the 1st quarter. Lazard Asset Management LLC now owns 1,863 shares of the company’s stock valued at $111,000 after purchasing an additional 613 shares during the last quarter.

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.