Sprout Social (NASDAQ:SPT) Now Covered by Analysts at Oppenheimer

Oppenheimer assumed coverage on shares of Sprout Social (NASDAQ:SPT) in a research report sent to investors on Thursday morning, Marketbeat.com reports. The firm issued an outperform rating and a $76.00 price target on the stock.

A number of other brokerages have also commented on SPT. Jefferies Financial Group initiated coverage on Sprout Social in a report on Wednesday, February 7th. They set a buy rating and a $76.00 price target on the stock. Stifel Nicolaus lifted their target price on Sprout Social from $60.00 to $70.00 and gave the stock a buy rating in a report on Friday, January 19th. Needham & Company LLC reaffirmed a buy rating and set a $75.00 target price on shares of Sprout Social in a report on Tuesday. Morgan Stanley lowered their target price on Sprout Social from $73.00 to $65.00 and set an equal weight rating on the stock in a report on Wednesday. Finally, Cantor Fitzgerald reaffirmed an overweight rating and set a $74.00 target price on shares of Sprout Social in a report on Wednesday, February 21st. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Sprout Social presently has an average rating of Moderate Buy and a consensus target price of $72.57.

Sprout Social Price Performance

Sprout Social stock opened at $52.74 on Thursday. The stock has a 50 day moving average of $59.34 and a 200-day moving average of $56.74. Sprout Social has a 52 week low of $37.00 and a 52 week high of $68.41. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.38.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings data on Tuesday, February 20th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.02). Sprout Social had a negative return on equity of 41.25% and a negative net margin of 19.91%. The firm had revenue of $93.58 million for the quarter, compared to the consensus estimate of $90.76 million. Equities analysts expect that Sprout Social will post -1.17 earnings per share for the current year.

Insider Activity

In other news, Director Aaron Edward Frederick Rankin sold 44,000 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $59.60, for a total transaction of $2,622,400.00. Following the sale, the director now directly owns 40,888 shares in the company, valued at $2,436,924.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Sprout Social news, President Ryan Paul Barretto sold 5,600 shares of the business’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $59.63, for a total value of $333,928.00. Following the transaction, the president now owns 209,375 shares of the company’s stock, valued at $12,485,031.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Aaron Edward Frederick Rankin sold 44,000 shares of the business’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $59.60, for a total value of $2,622,400.00. Following the completion of the transaction, the director now directly owns 40,888 shares in the company, valued at approximately $2,436,924.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 140,200 shares of company stock worth $8,171,958. Company insiders own 11.93% of the company’s stock.

Hedge Funds Weigh In On Sprout Social

A number of institutional investors and hedge funds have recently bought and sold shares of SPT. Acadian Asset Management LLC acquired a new position in shares of Sprout Social during the first quarter valued at $32,000. State of Wyoming acquired a new position in shares of Sprout Social during the second quarter valued at $29,000. Quarry LP acquired a new position in shares of Sprout Social during the first quarter valued at $40,000. RiverPark Advisors LLC acquired a new position in shares of Sprout Social during the third quarter valued at $37,000. Finally, Captrust Financial Advisors lifted its stake in shares of Sprout Social by 941.1% during the second quarter. Captrust Financial Advisors now owns 760 shares of the company’s stock valued at $44,000 after acquiring an additional 687 shares during the period.

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.