Fintel reports that on September 15, 2023, Needham reiterated coverage of Sprout Social Inc (NASDAQ:SPT) with a Buy recommendation.
Analyst Price Forecast Suggests 24.18% Upside
As of August 31, 2023, the average one-year price target for Sprout Social Inc is 62.48. The forecasts range from a low of 44.44 to a high of $78.75. The average price target represents an increase of 24.18% from its latest reported closing price of 50.31.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Sprout Social Inc is 332MM, an increase of 14.70%. The projected annual non-GAAP EPS is -0.02.
What is the Fund Sentiment?
There are 579 funds or institutions reporting positions in Sprout Social Inc. This is a decrease of 33 owner(s) or 5.39% in the last quarter. Average portfolio weight of all funds dedicated to SPT is 0.26%, a decrease of 22.56%. Total shares owned by institutions increased in the last three months by 6.02% to 71,991K shares. 
The put/call ratio of SPT is 1.90, indicating a bearish outlook.
What are Other Shareholders Doing?
Wellington Management Group Llp holds 3,100K shares representing 5.56% ownership of the company. In it's prior filing, the firm reported owning 788K shares, representing an increase of 74.58%. The firm increased its portfolio allocation in SPT by 184.66% over the last quarter.
Invesco holds 2,424K shares representing 4.35% ownership of the company. In it's prior filing, the firm reported owning 2,404K shares, representing an increase of 0.84%. The firm increased its portfolio allocation in SPT by 676.28% over the last quarter.
Clearbridge Investments holds 2,370K shares representing 4.25% ownership of the company. In it's prior filing, the firm reported owning 1,858K shares, representing an increase of 21.62%. The firm decreased its portfolio allocation in SPT by 8.64% over the last quarter.
Granahan Investment Management holds 2,213K shares representing 3.97% ownership of the company. In it's prior filing, the firm reported owning 952K shares, representing an increase of 56.98%. The firm increased its portfolio allocation in SPT by 78.25% over the last quarter.
Macquarie Group holds 1,889K shares representing 3.39% ownership of the company. In it's prior filing, the firm reported owning 1,531K shares, representing an increase of 18.97%. The firm decreased its portfolio allocation in SPT by 3.25% over the last quarter.
Sprout Social Background Information
(This description is provided by the company.)
Sprout Social offers deep social media listening and analytics, social management, customer care and advocacy solutions to more than 25,000 brands and agencies worldwide. Sprout’s unified platform integrates the power of social throughout every aspect of a business and enables social leaders at every level to extract valuable data and insights that drive their business forward. Headquartered in Chicago, Sprout operates across major social media networks, including Twitter, Facebook, Instagram, Pinterest, YouTube and LinkedIn.
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