Jefferies Financial Group Issues Positive Forecast for Sprout Social (NASDAQ:SPT) Stock Price

Sprout Social (NASDAQ:SPT) had its price target raised by analysts at Jefferies Financial Group from $34.00 to $42.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s target price would suggest a potential upside of 25.22% from the company’s current price.

Several other analysts have also issued reports on SPT. Needham & Company LLC reiterated a “buy” rating and set a $55.00 price objective on shares of Sprout Social in a report on Wednesday, January 15th. Morgan Stanley boosted their price target on Sprout Social from $36.00 to $37.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Scotiabank began 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. Oppenheimer cut their price target on shares of Sprout Social from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Tuesday, December 3rd. Finally, Piper Sandler lowered their target price on shares of Sprout Social from $40.00 to $29.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $39.58.

Sprout Social Stock Up 1.2 %

NASDAQ:SPT opened at $33.54 on Monday. Sprout Social has a 1-year low of $25.05 and a 1-year high of $68.41. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of -27.95 and a beta of 1.03. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19. The business’s fifty day moving average price is $32.46 and its 200 day moving average price is $31.03.

Sprout Social (NASDAQ:SPT) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. The company had revenue of $102.64 million during the quarter, compared to analysts’ expectations of $102.04 million. On average, sell-side analysts forecast that Sprout Social will post -0.99 earnings per share for the current fiscal year.

Insider Activity at Sprout Social

In related news, Director Karen Walker sold 5,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $34.24, for a total transaction of $171,200.00. Following the transaction, the director now owns 35,665 shares in the company, valued at $1,221,169.60. This represents a 12.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Justyn Russell Howard sold 40,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $31.67, for a total transaction of $1,266,800.00. Following the completion of the transaction, the insider now directly owns 27,136 shares of the company’s stock, valued at approximately $859,397.12. This represents a 59.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 80,265 shares of company stock valued at $2,533,406 over the last quarter. 10.97% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sprout Social

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP increased its holdings in Sprout Social by 2,346.9% in the second quarter. Quarry LP now owns 783 shares of the company’s stock valued at $28,000 after purchasing an additional 751 shares during the last quarter. KBC Group NV grew its holdings in Sprout Social by 77.1% during the fourth quarter. KBC Group NV now owns 2,525 shares of the company’s stock valued at $78,000 after purchasing an additional 1,099 shares during the period. Assetmark Inc. raised its holdings in 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 purchasing an additional 801 shares during the period. Yarbrough Capital LLC acquired a new stake in Sprout Social in the fourth quarter worth $206,000. Finally, Entropy Technologies LP acquired a new position in shares of Sprout Social in the 3rd quarter valued at $265,000.

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.