Oppenheimer Remains a Buy on Sprout Social (SPT)

In a report released today, Brian Schwartz from Oppenheimer maintained a Buy rating on Sprout Social (SPT – Research Report), with a price target of $43.00. The company’s shares closed yesterday at $48.15.

Schwartz covers the Technology sector, focusing on stocks such as Salesforce, Adobe, and Paycom. According to TipRanks, Schwartz has an average return of 19.4% and a 61.40% success rate on recommended stocks.

In addition to Oppenheimer, Sprout Social also received a Buy from Barclays’s Raimo Lenschow in a report issued today. However, on the same day, Piper Sandler downgraded Sprout Social (NASDAQ: SPT) to a Hold.

SPT market cap is currently $2.83B and has a P/E ratio of -41.88.

Based on the recent corporate insider activity of 66 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SPT in relation to earlier this year.

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Sprout Social (SPT) Company Description:

Sprout Social, Inc. provides online social media management tools for businesses. It offers communication tools, contact management, lead generation, and analytics services. The company offers solutions for enterprises, agencies, small businesses, customer service, social media marketing, and employee advocacy sectors. Sprout Social was founded by Justyn Howard, Aaron Rankin and Gilbert Lara in 2010 and is headquartered in Chicago, IL.