Morgan Stanley Raises Sprout Social (NASDAQ:SPT) Price Target to $37.00

Sprout Social (NASDAQ:SPT) had its price objective lifted by equities researchers at Morgan Stanley from $36.00 to $37.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 21.23% from the company’s current price.

A number of other equities analysts have also recently weighed in on the stock. Scotiabank began coverage on shares of Sprout Social in a research report on Monday, November 18th. They set a “sector perform” rating and a $28.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and set a $55.00 price target on shares of Sprout Social in a research report on Friday, November 8th. Oppenheimer cut their price objective on shares of Sprout Social from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 3rd. Barclays cut their price objective on shares of Sprout Social from $48.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. Finally, Piper Sandler cut their price objective 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 seven have assigned a buy rating to the company. According to MarketBeat, Sprout Social presently has a consensus rating of “Hold” and a consensus target price of $44.54.

Sprout Social Trading Up 0.1 %

SPT stock traded up $0.02 during midday trading on Monday, reaching $30.52. The company’s stock had a trading volume of 160,091 shares, compared to its average volume of 416,021. The business’s 50-day simple moving average is $31.35 and its 200-day simple moving average is $31.41. The stock has a market cap of $1.75 billion, a PE ratio of -25.43 and a beta of 1.03. Sprout Social has a 52 week low of $25.05 and a 52 week high of $68.41. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19.

Sprout Social (NASDAQ:SPT) last announced 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). The firm had revenue of $102.64 million for the quarter, compared to the consensus estimate of $102.04 million. Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. As a group, sell-side analysts expect that Sprout Social will post -0.98 EPS for the current year.

Insider Buying and Selling at Sprout Social

In other news, Director Karen Walker sold 5,000 shares of the business’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 directly owns 35,665 shares in the company, valued at $1,221,169.60. The trade was a 12.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Paul Barretto sold 13,465 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $31.45, for a total transaction of $423,474.25. Following the transaction, the chief executive officer now owns 546,343 shares in the company, valued at $17,182,487.35. This represents a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,265 shares of company stock worth $1,115,306. Insiders own 10.97% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Diversified Trust Co grew its stake in Sprout Social by 8.1% in the 4th quarter. Diversified Trust Co now owns 17,044 shares of the company’s stock valued at $523,000 after buying an additional 1,274 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Sprout Social by 324.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 402,947 shares of the company’s stock valued at $11,714,000 after buying an additional 307,906 shares during the last quarter. Principal Financial Group Inc. grew its stake in Sprout Social by 20.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,199,451 shares of the company’s stock valued at $34,868,000 after buying an additional 200,190 shares during the last quarter. Franklin Resources Inc. grew its stake in Sprout Social by 5.4% in the 3rd quarter. Franklin Resources Inc. now owns 20,256 shares of the company’s stock valued at $576,000 after buying an additional 1,034 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its stake in Sprout Social by 3.5% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 98,204 shares of the company’s stock valued at $2,855,000 after buying an additional 3,344 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.