Sprout Social (NASDAQ:SPT) Price Target Raised to $76.00

Sprout Social (NASDAQ:SPTGet Rating) had its price target hoisted by Robert W. Baird from $64.00 to $76.00 in a research report released on Thursday, The Fly reports. Robert W. Baird currently has an outperform rating on the stock.

Other analysts have also recently issued research reports about the company. Canaccord Genuity Group dropped their target price on Sprout Social from $75.00 to $65.00 and set a buy rating on the stock in a research report on Thursday, August 4th. Barclays dropped their target price on Sprout Social from $70.00 to $63.00 and set an overweight rating on the stock in a research report on Friday, November 4th. Cantor Fitzgerald dropped their target price on Sprout Social from $79.00 to $62.00 in a research report on Friday, November 4th. Piper Sandler lowered their price objective on Sprout Social from $76.00 to $70.00 and set an overweight rating for the company in a research report on Wednesday, August 3rd. Finally, KeyCorp lowered their price objective on Sprout Social from $75.00 to $60.00 and set an overweight rating for the company in a research report on Friday, November 4th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Sprout Social presently has an average rating of Moderate Buy and an average target price of $70.11.

Sprout Social Trading Down 4.9 %

Shares of NASDAQ SPT opened at $59.25 on Thursday. The stock has a market capitalization of $3.25 billion, a PE ratio of -67.33 and a beta of 0.90. The stock’s fifty day simple moving average is $60.03 and its two-hundred day simple moving average is $57.26. Sprout Social has a 12-month low of $38.39 and a 12-month high of $139.75.

Insider Buying and Selling

In related news, President Ryan Paul Barretto sold 5,600 shares of the firm’s stock in a transaction on Friday, November 4th. The stock was sold at an average price of $50.18, for a total value of $281,008.00. Following the completion of the transaction, the president now owns 293,375 shares in the company, valued at approximately $14,721,557.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CTO Aaron Edward Frederick Rankin sold 37,200 shares of the firm’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $65.83, for a total value of $2,448,876.00. Following the completion of the transaction, the chief technology officer now owns 31,986 shares in the company, valued at approximately $2,105,638.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Ryan Paul Barretto sold 5,600 shares of Sprout Social stock in a transaction dated Friday, November 4th. The shares were sold at an average price of $50.18, for a total value of $281,008.00. Following the transaction, the president now owns 293,375 shares of the company’s stock, valued at approximately $14,721,557.50. The disclosure for this sale can be found here. Insiders sold 123,341 shares of company stock worth $7,445,401 in the last 90 days. Insiders own 13.33% of the company’s stock.

Hedge Funds Weigh In On Sprout Social

A number of institutional investors have recently modified their holdings of SPT. First Horizon Advisors Inc. raised its stake in shares of Sprout Social by 433.7% during the 2nd quarter. First Horizon Advisors Inc. now owns 443 shares of the company’s stock valued at $25,000 after buying an additional 360 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Sprout Social during the 3rd quarter valued at about $25,000. CWM LLC raised its stake in shares of Sprout Social by 109.1% during the 2nd quarter. CWM LLC now owns 485 shares of the company’s stock valued at $28,000 after buying an additional 253 shares during the last quarter. Wipfli Financial Advisors LLC purchased a new position in shares of Sprout Social during the 3rd quarter valued at about $28,000. Finally, Assetmark Inc. raised its stake in shares of Sprout Social by 138.9% during the 2nd quarter. Assetmark Inc. now owns 497 shares of the company’s stock valued at $29,000 after buying an additional 289 shares during the last quarter. Hedge funds and other institutional investors own 92.94% of the company’s stock.

Sprout Social Company Profile

(Get Rating)

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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