Sprout Social (NASDAQ:SPT) Price Target Lowered to $29.00 at The Goldman Sachs Group

Sprout Social (NASDAQ:SPT) had its price target lowered by The Goldman Sachs Group from $34.00 to $29.00 in a research report report published on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

SPT has been the topic of a number of other research reports. Needham & Company LLC dropped their price objective on shares of Sprout Social from $55.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday. Scotiabank started coverage on shares of Sprout Social in a report on Monday, November 18th. They issued a “sector perform” rating and a $28.00 price objective on the stock. Piper Sandler dropped their price objective on shares of Sprout Social from $29.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday. Stifel Nicolaus lowered their target price on shares of Sprout Social from $45.00 to $34.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Barclays lowered their target price on shares of Sprout Social from $38.00 to $34.00 and set an “overweight” rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Sprout Social currently has an average rating of “Hold” and an average target price of $34.08.

Sprout Social Stock Up 3.1 %

Shares of NASDAQ:SPT opened at $28.09 on Wednesday. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of -23.41 and a beta of 1.06. Sprout Social has a 1-year low of $25.05 and a 1-year high of $64.91. The company’s fifty day moving average is $31.73 and its two-hundred day moving average is $30.54. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96.

Sprout Social (NASDAQ:SPT) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.35). Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. The firm had revenue of $107.09 million during the quarter, compared to analyst estimates of $106.74 million. Equities analysts anticipate that Sprout Social will post -0.99 EPS for the current year.

Insider Activity

In other Sprout Social news, insider Justyn Russell Howard sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $31.67, for a total value of $1,266,800.00. Following the completion of the transaction, the insider now directly owns 27,136 shares in the company, valued at $859,397.12. This trade represents a 59.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Karen Walker sold 5,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $34.24, for a total transaction of $171,200.00. Following the completion of the transaction, the director now owns 35,665 shares of the company’s stock, valued at approximately $1,221,169.60. The trade was a 12.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 120,265 shares of company stock worth $3,837,006. Corporate insiders own 10.97% of the company’s stock.

Institutional Trading of Sprout Social

A number of hedge funds have recently made changes to their positions in SPT. ArrowMark Colorado Holdings LLC lifted its position in shares of Sprout Social by 380.7% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,772,219 shares of the company’s stock worth $54,425,000 after purchasing an additional 1,403,549 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Sprout Social by 16.0% in the third quarter. Wellington Management Group LLP now owns 3,762,443 shares of the company’s stock worth $109,374,000 after purchasing an additional 519,406 shares in the last quarter. Norges Bank purchased a new stake in shares of Sprout Social in the fourth quarter worth approximately $13,422,000. Dorsey Asset Management LLC lifted its position in shares of Sprout Social by 16.7% in the fourth quarter. Dorsey Asset Management LLC now owns 2,306,149 shares of the company’s stock worth $70,822,000 after purchasing an additional 330,155 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Sprout Social by 324.0% in the third quarter. JPMorgan Chase & Co. now owns 402,947 shares of the company’s stock worth $11,714,000 after purchasing an additional 307,906 shares in 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.