Oppenheimer Initiates Coverage of Sprout Social (SPT) with Outperform Recommendation

Fintel reports that on April 18, 2024, Oppenheimer initiated coverage of Sprout Social (NasdaqCM:SPT) with a Outperform recommendation.

Analyst Price Forecast Suggests 41.88% Upside

As of April 17, 2024, the average one-year price target for Sprout Social is 74.89. The forecasts range from a low of 66.66 to a high of $87.15. The average price target represents an increase of 41.88% from its latest reported closing price of 52.78.

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The projected annual revenue for Sprout Social is 435MM, an increase of 30.44%. The projected annual non-GAAP EPS is 0.15.

What is the Fund Sentiment?

There are 575 funds or institutions reporting positions in Sprout Social. This is an increase of 17 owner(s) or 3.05% in the last quarter. Average portfolio weight of all funds dedicated to SPT is 0.36%, an increase of 13.38%. Total shares owned by institutions decreased in the last three months by 0.03% to 74,449K shares. The put/call ratio of SPT is 1.07, indicating a bearish outlook.

What are Other Shareholders Doing?

Baillie Gifford holds 4,114K shares representing 7.28% ownership of the company. In it's prior filing, the firm reported owning 4,404K shares, representing a decrease of 7.06%. The firm decreased its portfolio allocation in SPT by 62.37% over the last quarter.

Wellington Management Group Llp holds 3,556K shares representing 6.29% ownership of the company. In it's prior filing, the firm reported owning 3,953K shares, representing a decrease of 11.17%. The firm decreased its portfolio allocation in SPT by 85.16% over the last quarter.

Clearbridge Investments holds 2,532K shares representing 4.48% ownership of the company. In it's prior filing, the firm reported owning 2,379K shares, representing an increase of 6.07%. The firm decreased its portfolio allocation in SPT by 11.38% over the last quarter.

Macquarie Group holds 2,141K shares representing 3.79% ownership of the company. In it's prior filing, the firm reported owning 2,055K shares, representing an increase of 4.00%. The firm decreased its portfolio allocation in SPT by 11.00% over the last quarter.

Invesco holds 1,958K shares representing 3.46% ownership of the company. In it's prior filing, the firm reported owning 1,304K shares, representing an increase of 33.39%. The firm increased its portfolio allocation in SPT by 63.40% 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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This story originally appeared on Fintel.

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