Oppenheimer Cuts Sprout Social (NASDAQ:SPT) Price Target to $43.00

Sprout Social (NASDAQ:SPT) had its target price decreased by Oppenheimer from $76.00 to $43.00 in a research report released on Friday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Several other analysts also recently commented on the stock. Stifel Nicolaus increased their target price on shares of Sprout Social from $60.00 to $70.00 and gave the company a buy rating in a report on Friday, January 19th. The Goldman Sachs Group downgraded shares of Sprout Social from a buy rating to a neutral rating and lowered their target price for the company from $80.00 to $44.00 in a report on Friday. Cantor Fitzgerald reiterated an overweight rating and issued a $74.00 target price on shares of Sprout Social in a report on Wednesday, February 21st. Piper Sandler downgraded shares of Sprout Social from an overweight rating to a neutral rating and lowered their target price for the company from $66.00 to $40.00 in a report on Friday. Finally, BTIG Research downgraded shares of Sprout Social from a buy rating to a neutral rating in a report on Friday. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $57.07.

Sprout Social Stock Down 40.1 %

Shares of Sprout Social stock traded down $19.33 during trading hours on Friday, reaching $28.82. The company’s stock had a trading volume of 13,470,229 shares, compared to its average volume of 679,800. Sprout Social has a one year low of $27.85 and a one year high of $68.41. The company has a market capitalization of $1.62 billion, a P/E ratio of -23.06 and a beta of 1.09. The stock’s fifty day simple moving average is $55.98 and its two-hundred day simple moving average is $56.71. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.08 and a current ratio of 1.08.

Sprout Social (NASDAQ:SPT) last released its quarterly earnings data on Tuesday, February 20th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). Sprout Social had a negative net margin of 19.64% and a negative return on equity of 42.60%. The business had revenue of $93.58 million during the quarter, compared to the consensus estimate of $90.76 million. On average, research analysts forecast that Sprout Social will post -1.17 earnings per share for the current year.

Insiders Place Their Bets

In other Sprout Social news, CEO Justyn Russell Howard sold 20,000 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $56.52, for a total transaction of $1,130,400.00. Following the completion of the transaction, the chief executive officer now owns 406,636 shares in the company, valued at $22,983,066.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Justyn Russell Howard sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $56.52, for a total value of $1,130,400.00. Following the completion of the transaction, the chief executive officer now directly owns 406,636 shares in the company, valued at $22,983,066.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Ryan Paul Barretto sold 5,600 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $59.63, for a total transaction of $333,928.00. Following the completion of the transaction, the president now owns 209,375 shares of the company’s stock, valued at $12,485,031.25. The disclosure for this sale can be found here. Insiders sold 140,200 shares of company stock worth $8,171,958 over the last quarter. 10.97% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sprout Social

Hedge funds have recently bought and sold shares of the stock. Knights of Columbus Asset Advisors LLC lifted its position in Sprout Social by 162.5% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 74,357 shares of the company’s stock valued at $4,568,000 after purchasing an additional 46,033 shares during the last quarter. Natixis Advisors L.P. lifted its position in Sprout Social by 43.7% during the third quarter. Natixis Advisors L.P. now owns 61,300 shares of the company’s stock valued at $3,058,000 after purchasing an additional 18,644 shares during the last quarter. Baillie Gifford & Co. raised its stake in shares of Sprout Social by 244.1% during the third quarter. Baillie Gifford & Co. now owns 4,404,402 shares of the company’s stock worth $219,692,000 after acquiring an additional 3,124,376 shares in the last quarter. Corton Capital Inc. raised its stake in shares of Sprout Social by 16.6% during the third quarter. Corton Capital Inc. now owns 6,899 shares of the company’s stock worth $344,000 after acquiring an additional 983 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Sprout Social by 3.9% during the third quarter. Vanguard Group Inc. now owns 5,084,389 shares of the company’s stock worth $253,609,000 after acquiring an additional 191,471 shares in the last quarter.

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.