Sprout Social (NYSE:SPT) had its price target upped by analysts at Goldman Sachs Group from $27.00 to $35.00 in a research report issued on Monday, The Fly reports. Goldman Sachs Group’s target price indicates a potential upside of 40.17% from the stock’s current price.
SPT has been the subject of several other research reports. KeyCorp increased their price objective on shares of Sprout Social from $27.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, June 4th. Canaccord Genuity reissued a “buy” rating and issued a $24.00 price objective on shares of Sprout Social in a research report on Thursday, May 7th. Morgan Stanley increased their price objective on shares of Sprout Social from $21.00 to $23.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. BTIG Research started coverage on shares of Sprout Social in a research report on Monday, June 8th. They issued a “buy” rating and a $40.00 price objective for the company. Finally, Zacks Investment Research downgraded shares of Sprout Social from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $29.00.
Shares of SPT stock opened at $24.97 on Monday. The business’s fifty day simple moving average is $27.05. Sprout Social has a 12-month low of $10.54 and a 12-month high of $33.52.
Sprout Social (NYSE:SPT) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.21). The business had revenue of $30.54 million for the quarter, compared to analyst estimates of $29.21 million.
In other Sprout Social news, CTO Aaron Edward Frederick Rankin sold 37,000 shares of the stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $28.36, for a total transaction of $1,049,320.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Preto Joseph Del sold 60,000 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $27.02, for a total transaction of $1,621,200.00. The disclosure for this sale can be found here.
A number of hedge funds and other institutional investors have recently bought and sold shares of SPT. Citigroup Inc. acquired a new position in shares of Sprout Social in the first quarter worth about $45,000. UBS Group AG boosted its holdings in shares of Sprout Social by 138.3% in the first quarter. UBS Group AG now owns 4,214 shares of the company’s stock worth $67,000 after buying an additional 2,446 shares during the period. Clearbridge Investments LLC boosted its holdings in shares of Sprout Social by 55.7% in the first quarter. Clearbridge Investments LLC now owns 850,836 shares of the company’s stock worth $13,579,000 after buying an additional 304,370 shares during the period. Blackstone Group Inc acquired a new position in shares of Sprout Social in the fourth quarter worth about $4,413,000. Finally, State Street Corp acquired a new position in shares of Sprout Social in the first quarter worth about $2,194,000.
Sprout Social Company Profile
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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