Sprout Social (NYSE:SPT) Price Target Increased to $35.00 by Analysts at Goldman Sachs Group

Sprout Social (NYSE:SPT) had its price objective lifted by Goldman Sachs Group from $27.00 to $35.00 in a research note issued to investors on Monday morning, The Fly reports.

Several other analysts have also weighed in on SPT. Zacks Investment Research lowered Sprout Social from a buy rating to a hold rating in a report on Saturday, June 6th. KeyCorp boosted their price objective on Sprout Social from $27.00 to $33.00 and gave the company an overweight rating in a report on Thursday, June 4th. Morgan Stanley boosted their price objective on Sprout Social from $21.00 to $23.00 and gave the company an overweight rating in a report on Thursday, May 7th. Canaccord Genuity reissued a buy rating and issued a $24.00 price objective on shares of Sprout Social in a report on Thursday, May 7th. Finally, Robert W. Baird began coverage on Sprout Social in a report on Monday, June 1st. They issued an outperform rating and a $33.00 price objective for the company. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. Sprout Social has an average rating of Buy and a consensus price target of $29.00.

Shares of NYSE SPT opened at $27.68 on Monday. Sprout Social has a 1 year low of $10.54 and a 1 year high of $33.52. The stock’s 50-day simple moving average is $27.16.

Sprout Social (NYSE:SPT) last announced its earnings results on Wednesday, May 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.21). The business had revenue of $30.54 million for the quarter, compared to analysts’ expectations of $29.21 million.

In other news, CFO Preto Joseph Del sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $27.02, for a total transaction of $1,621,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Aaron Edward Frederick Rankin sold 37,000 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $28.36, for a total value of $1,049,320.00. The disclosure for this sale can be found here.

Several hedge funds and other institutional investors have recently modified their holdings of SPT. UBS Group AG acquired a new position in shares of Sprout Social during the fourth quarter worth approximately $29,000. Cubist Systematic Strategies LLC acquired a new stake in Sprout Social in the fourth quarter worth approximately $37,000. Strs Ohio acquired a new stake in Sprout Social in the first quarter worth approximately $38,000. Citigroup Inc. acquired a new stake in Sprout Social in the first quarter worth approximately $45,000. Finally, Deutsche Bank AG acquired a new stake in Sprout Social in the first quarter worth approximately $48,000.

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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Analyst Recommendations for Sprout Social (NYSE:SPT)

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