Jefferies Financial Group Initiates Coverage on Sprout Social (NASDAQ:SPT)

Jefferies Financial Group started coverage on shares of Sprout Social (NASDAQ:SPTFree Report) in a research note released on Wednesday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $76.00 price objective on the stock.

A number of other research analysts also recently commented on SPT. Stephens assumed coverage on Sprout Social in a report on Tuesday, October 10th. They issued an overweight rating and a $78.00 price target for the company. KeyCorp decreased their price target on shares of Sprout Social from $62.00 to $58.00 and set an overweight rating for the company in a research report on Monday, October 23rd. Stifel Nicolaus upped their price target on shares of Sprout Social from $60.00 to $70.00 and gave the company a buy rating in a report on Friday, January 19th. Piper Sandler increased their price objective on shares of Sprout Social from $56.00 to $62.00 and gave the company an overweight rating in a research note on Friday, November 3rd. Finally, Needham & Company LLC reissued a buy rating and issued a $75.00 target price on shares of Sprout Social in a research report on Friday, January 19th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Sprout Social presently has an average rating of Moderate Buy and an average target price of $69.54.

Get Our Latest Analysis on SPT

Sprout Social Stock Performance

NASDAQ:SPT opened at $65.99 on Wednesday. The firm has a 50-day moving average of $60.70 and a two-hundred day moving average of $53.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.20 and a quick ratio of 1.20. The stock has a market cap of $3.69 billion, a P/E ratio of -62.25 and a beta of 1.08. Sprout Social has a 1-year low of $37.00 and a 1-year high of $68.30.

Insider Activity

In other Sprout Social news, CFO Preto Joseph Del sold 1,500 shares of Sprout Social stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $59.71, for a total value of $89,565.00. Following the completion of the transaction, the chief financial officer now directly owns 127,322 shares in the company, valued at $7,602,396.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, President Ryan Paul Barretto sold 5,600 shares of the stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $56.08, for a total value of $314,048.00. Following the sale, the president now owns 214,975 shares of the company’s stock, valued at approximately $12,055,798. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Preto Joseph Del sold 1,500 shares of Sprout Social stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $59.71, for a total transaction of $89,565.00. Following the completion of the sale, the chief financial officer now owns 127,322 shares in the company, valued at $7,602,396.62. The disclosure for this sale can be found here. In the last three months, insiders sold 122,200 shares of company stock valued at $7,079,946. Company insiders own 11.93% of the company’s stock.

Institutional Investors Weigh In On Sprout Social

Large investors have recently made changes to their positions in the company. Handelsbanken Fonder AB grew its holdings in Sprout Social by 9.0% in the 2nd quarter. Handelsbanken Fonder AB now owns 8,500 shares of the company’s stock worth $392,000 after buying an additional 700 shares in the last quarter. Baillie Gifford & Co. grew its stake in shares of Sprout Social by 28.5% in the second quarter. Baillie Gifford & Co. now owns 1,280,026 shares of the company’s stock worth $59,086,000 after purchasing an additional 284,222 shares in the last quarter. Verdence Capital Advisors LLC increased its holdings in shares of Sprout Social by 16.7% during the third quarter. Verdence Capital Advisors LLC now owns 7,120 shares of the company’s stock valued at $355,000 after purchasing an additional 1,020 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Sprout Social by 14.4% during the second quarter. Russell Investments Group Ltd. now owns 39,196 shares of the company’s stock valued at $1,810,000 after purchasing an additional 4,929 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in Sprout Social by 111.3% in the third quarter. Oppenheimer Asset Management Inc. now owns 17,209 shares of the company’s stock worth $858,000 after purchasing an additional 9,066 shares during the period.

Sprout Social Company Profile

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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. It provides cloud software that brings together social messaging, data, and workflows in a unified system of record, intelligence, and action.

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Analyst Recommendations for Sprout Social (NASDAQ:SPT)

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