Sprout Social (NYSE:SPT) Stock Price Down 6.2%

Sprout Social (NYSE:SPT) shares traded down 6.2% during mid-day trading on Wednesday . The company traded as low as $17.53 and last traded at $17.70, 775,196 shares changed hands during trading. An increase of 113% from the average session volume of 364,110 shares. The stock had previously closed at $18.87.

A number of equities analysts have issued reports on the stock. Stifel Nicolaus assumed coverage on shares of Sprout Social in a research report on Tuesday, January 7th. They set a “buy” rating and a $25.00 price target for the company. Goldman Sachs Group assumed coverage on Sprout Social in a report on Tuesday, January 7th. They issued a “buy” rating and a $27.00 price target for the company. Canaccord Genuity assumed coverage on Sprout Social in a report on Tuesday, January 7th. They issued a “buy” rating and a $22.00 price target for the company. Morgan Stanley assumed coverage on Sprout Social in a report on Tuesday, January 7th. They issued an “overweight” rating and a $23.00 price target for the company. Finally, KeyCorp assumed coverage on Sprout Social in a report on Tuesday, January 7th. They issued an “overweight” rating and a $22.00 price target for the company. Six equities research analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and an average price target of $23.80.

The business’s fifty day moving average is $19.69.

Institutional investors have recently bought and sold shares of the business. UBS Group AG acquired a new stake in Sprout Social in the fourth quarter valued at $29,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Sprout Social during the fourth quarter valued at $37,000. Penserra Capital Management LLC acquired a new stake in shares of Sprout Social during the fourth quarter valued at $196,000. Point72 Hong Kong Ltd acquired a new stake in shares of Sprout Social during the fourth quarter valued at $162,000. Finally, Bank of America Corp DE acquired a new stake in shares of Sprout Social during the fourth quarter valued at $315,000.

About Sprout Social (NYSE:SPT)

Sprout Social, Inc designs and develops a platform for social media management. The company offers cloud software that brings together social messaging, data, and workflows in a unified system of record, intelligence, and action. It provides various integrated tools in a range of functions comprising social engagement/response, publishing, reporting and analytics, social listening and business intelligence, reputation management, employee advocacy, and automation and workflows.

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