Sprout Social (NASDAQ:SPT) Price Target Lowered to $16.00 at Canaccord Genuity Group

Sprout Social (NASDAQ:SPT) had its target price reduced by equities researchers at Canaccord Genuity Group from $25.00 to $16.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 60.00% from the company’s current price.

A number of other research firms also recently weighed in on SPT. Oppenheimer decreased their target price on shares of Sprout Social from $32.00 to $23.00 and set an “outperform” rating for the company in a research report on Thursday, August 7th. The Goldman Sachs Group cut their price target on Sprout Social from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Thursday, August 7th. Zacks Research cut shares of Sprout Social from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 13th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Sprout Social in a research report on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $26.55.

Sprout Social Price Performance

Sprout Social stock traded up $0.13 during mid-day trading on Friday, reaching $10.00. The company had a trading volume of 1,622,447 shares, compared to its average volume of 863,057. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.08. Sprout Social has a fifty-two week low of $9.46 and a fifty-two week high of $36.30. The company has a market cap of $588.15 million, a P/E ratio of -12.35 and a beta of 0.88. The business has a fifty day simple moving average of $12.66 and a 200 day simple moving average of $17.18.

Sprout Social (NASDAQ:SPT) last issued its earnings results on Wednesday, November 5th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.07. Sprout Social had a negative return on equity of 19.43% and a negative net margin of 10.59%.The business had revenue of $115.59 million during the quarter, compared to analysts’ expectations of $114.86 million. During the same quarter in the prior year, the firm earned $0.13 EPS. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. Sprout Social has set its FY 2025 guidance at 0.770-0.790 EPS. Q4 2025 guidance at 0.150-0.170 EPS. On average, equities research analysts predict that Sprout Social will post -0.99 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Justyn Russell Howard sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $10.22, for a total transaction of $204,400.00. Following the sale, the insider directly owned 7,417 shares in the company, valued at approximately $75,801.74. This represents a 72.95% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 70,566 shares of company stock worth $899,581 over the last quarter. 10.12% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SPT. CenterBook Partners LP lifted its stake in Sprout Social by 173.7% in the third quarter. CenterBook Partners LP now owns 325,285 shares of the company’s stock worth $4,203,000 after purchasing an additional 206,445 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Sprout Social by 4.4% in the 3rd quarter. Vanguard Group Inc. now owns 6,548,401 shares of the company’s stock valued at $84,605,000 after acquiring an additional 276,300 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Sprout Social by 9.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 311,353 shares of the company’s stock valued at $4,023,000 after acquiring an additional 27,571 shares during the period. PNC Financial Services Group Inc. grew its position in Sprout Social by 22.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 16,044 shares of the company’s stock worth $207,000 after acquiring an additional 2,901 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in Sprout Social by 17.1% in the 3rd quarter. Rhumbline Advisers now owns 91,582 shares of the company’s stock worth $1,183,000 after purchasing an additional 13,342 shares during the period.

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.