Sprout Social (NASDAQ:SPT) Price Target Cut to $38.00

Sprout Social (NASDAQ:SPT) had its price target lowered by investment analysts at Robert W. Baird from $45.00 to $38.00 in a report released on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Robert W. Baird’s target price would indicate a potential upside of 6.50% from the company’s current price.

A number of other equities analysts have also recently commented on the stock. Morgan Stanley decreased their target price on shares of Sprout Social from $65.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Friday, May 3rd. Cantor Fitzgerald decreased their price objective on shares of Sprout Social from $74.00 to $46.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. BTIG Research cut shares of Sprout Social from a “buy” rating to a “neutral” rating in a research report on Friday, May 3rd. Barclays decreased their price objective on shares of Sprout Social from $72.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $55.00 price objective on shares of Sprout Social in a research report on Friday, June 7th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $56.57.

Sprout Social Stock Performance

Sprout Social stock opened at $35.68 on Thursday. The firm’s fifty day moving average price is $35.41 and its 200-day moving average price is $51.51. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market cap of $2.02 billion, a P/E ratio of -28.54 and a beta of 0.99. Sprout Social has a fifty-two week low of $25.68 and a fifty-two week high of $68.41.

Sprout Social (NASDAQ:SPT) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.10. The firm had revenue of $96.78 million for the quarter, compared to analysts’ expectations of $97.29 million. Sprout Social had a negative net margin of 19.64% and a negative return on equity of 42.51%. On average, equities research analysts expect that Sprout Social will post -0.84 earnings per share for the current fiscal year.

Insider Activity

In other news, President Ryan Paul Barretto sold 5,600 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $56.95, for a total transaction of $318,920.00. Following the completion of the transaction, the president now directly owns 198,175 shares of the company’s stock, valued at $11,286,066.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Sprout Social news, Director Aaron Edward Frederick Rankin sold 1,184 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $32.14, for a total transaction of $38,053.76. Following the completion of the sale, the director now directly owns 43,303 shares of the company’s stock, valued at $1,391,758.42. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Ryan Paul Barretto sold 5,600 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $56.95, for a total transaction of $318,920.00. Following the sale, the president now directly owns 198,175 shares of the company’s stock, valued at $11,286,066.25. The disclosure for this sale can be found here. Insiders sold 108,870 shares of company stock valued at $4,673,003 over the last three months. Insiders own 10.97% of the company’s stock.

Institutional Trading of Sprout Social

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Verdence Capital Advisors LLC boosted its position in shares of Sprout Social by 3.2% in the fourth quarter. Verdence Capital Advisors LLC now owns 7,345 shares of the company’s stock worth $451,000 after purchasing an additional 225 shares during the period. Arcadia Investment Management Corp MI boosted its position in shares of Sprout Social by 36.7% in the fourth quarter. Arcadia Investment Management Corp MI now owns 1,047 shares of the company’s stock worth $64,000 after purchasing an additional 281 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Sprout Social by 14.8% during the third quarter. PNC Financial Services Group Inc. now owns 2,500 shares of the company’s stock worth $125,000 after acquiring an additional 323 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in shares of Sprout Social during the first quarter worth $27,000. Finally, RiverPark Advisors LLC boosted its position in shares of Sprout Social by 67.8% during the fourth quarter. RiverPark Advisors LLC now owns 1,247 shares of the company’s stock worth $77,000 after acquiring an additional 504 shares during the last quarter.

Sprout Social Company Profile

Sprout Social, Inc designs, develops, and operates a web-based social media management platform in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company provides cloud software for social messaging, data and workflows in a unified system of record, intelligence, and action.