Barclays Trims Sprout Social (NASDAQ:SPT) Target Price to $48.00

Sprout Social (NASDAQ:SPT) had its target price reduced by Barclays from $50.00 to $48.00 in a research report released on Tuesday morning, Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other research firms also recently weighed in on SPT. Oppenheimer dropped their price target on Sprout Social from $76.00 to $43.00 and set an outperform rating on the stock in a research note on Friday, May 3rd. Piper Sandler cut Sprout Social from an overweight rating to a neutral rating and cut their target price for the stock from $66.00 to $40.00 in a report on Friday, May 3rd. The Goldman Sachs Group downgraded shares of Sprout Social from a buy rating to a neutral rating and reduced their price target for the company from $80.00 to $44.00 in a research report on Friday, May 3rd. KeyCorp downgraded shares of Sprout Social from an overweight rating to a sector weight rating in a report on Friday, May 3rd. Finally, Canaccord Genuity Group reduced their price objective on shares of Sprout Social from $70.00 to $50.00 and set a buy rating for the company in a report on Friday, May 3rd. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Sprout Social currently has an average rating of Moderate Buy and a consensus target price of $56.43.

Sprout Social Stock Down 3.0 %

Shares of Sprout Social stock opened at $36.29 on Tuesday. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of -29.03 and a beta of 1.00. The stock’s 50-day moving average is $33.51 and its 200 day moving average is $49.01. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.97 and a quick ratio of 0.97. Sprout Social has a one year low of $25.68 and a one year high of $68.41.

Sprout Social (NASDAQ:SPT) last issued its earnings results on Thursday, May 2nd. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.10. Sprout Social had a negative net margin of 19.64% and a negative return on equity of 42.51%. The business had revenue of $96.78 million for the quarter, compared to analyst estimates of $97.29 million. Equities research analysts anticipate that Sprout Social will post -0.84 EPS for the current year.

Insider Buying and Selling

In related news, Director Aaron Edward Frederick Rankin sold 1,184 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $32.14, for a total value of $38,053.76. Following the transaction, the director now directly owns 43,303 shares of the company’s stock, valued at approximately $1,391,758.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Preto Joseph Del sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $36.66, for a total value of $54,990.00. Following the transaction, the chief financial officer now owns 165,624 shares in the company, valued at $6,071,775.84. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Aaron Edward Frederick Rankin sold 1,184 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $32.14, for a total value 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 92,470 shares of company stock worth $3,063,248. 10.97% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sprout Social

Several large investors have recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC purchased a new position in Sprout Social in the 1st quarter valued at approximately $27,000. EntryPoint Capital LLC purchased a new stake in shares of Sprout Social during the first quarter worth $37,000. Covestor Ltd boosted its holdings in shares of Sprout Social by 35,450.0% in the first quarter. Covestor Ltd now owns 711 shares of the company’s stock worth $42,000 after acquiring an additional 709 shares during the period. Bessemer Group Inc. purchased a new position in shares of Sprout Social in the first quarter valued at $61,000. Finally, Arcadia Investment Management Corp MI raised its stake in shares of Sprout Social by 36.7% during the 4th quarter. Arcadia Investment Management Corp MI now owns 1,047 shares of the company’s stock valued at $64,000 after purchasing an additional 281 shares during the period.

About Sprout Social

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.