Sprout Social (NASDAQ:SPT) Price Target Lowered to $50.00 at Barclays

Sprout Social (NASDAQ:SPT) had its target price cut by Barclays from $72.00 to $50.00 in a report released on Friday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages have also issued reports on SPT. Stifel Nicolaus increased their price objective on Sprout Social from $60.00 to $70.00 and gave the stock a buy rating in a report on Friday, January 19th. Needham & Company LLC cut their price objective on Sprout Social from $75.00 to $55.00 and set a buy rating for the company in a research report on Friday. Canaccord Genuity Group reiterated a buy rating and set a $70.00 price objective on shares of Sprout Social in a research report on Wednesday, February 21st. Morgan Stanley reduced their target price on Sprout Social from $73.00 to $65.00 and set an equal weight rating for the company in a report on Wednesday, April 17th. Finally, Oppenheimer dropped their price target on shares of Sprout Social from $76.00 to $43.00 and set an outperform rating on the stock in a research note on Friday. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $57.07.

Sprout Social Stock Down 40.1 %

Sprout Social stock traded down $19.33 during midday trading on Friday, hitting $28.82. The stock had a trading volume of 13,470,229 shares, compared to its average volume of 679,800. The stock has a market cap of $1.62 billion, a P/E ratio of -23.06 and a beta of 1.09. The business has a fifty day moving average price of $55.98 and a 200 day moving average price of $56.71. Sprout Social has a 12 month low of $27.85 and a 12 month high of $68.41. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.38.

Sprout Social (NASDAQ:SPT) last posted its earnings results on Tuesday, February 20th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.02). The company had revenue of $93.58 million for the quarter, compared to the consensus estimate of $90.76 million. Sprout Social had a negative net margin of 19.64% and a negative return on equity of 42.60%. Research analysts predict that Sprout Social will post -1.17 EPS for the current year.

Insider Activity at Sprout Social

In related 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 value of $1,130,400.00. Following the completion of the sale, the chief executive officer now owns 406,636 shares in the company, valued at $22,983,066.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Sprout Social news, CFO Preto Joseph Del sold 1,500 shares of the firm’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $59.71, for a total transaction of $89,565.00. Following the completion of the transaction, the chief financial officer now owns 127,322 shares in the company, valued at $7,602,396.62. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Justyn Russell Howard sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $56.52, for a total transaction of $1,130,400.00. Following the sale, the chief executive officer now directly owns 406,636 shares of the company’s stock, valued at approximately $22,983,066.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 140,200 shares of company stock worth $8,171,958. Company 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 modified their holdings of the stock. RiverPark Advisors LLC grew its holdings in shares of Sprout Social by 361.1% in the 1st quarter. RiverPark Advisors LLC now owns 5,750 shares of the company’s stock valued at $343,000 after buying an additional 4,503 shares during the period. Jennison Associates LLC grew its holdings in shares of Sprout Social by 17.0% in the 1st quarter. Jennison Associates LLC now owns 2,137,422 shares of the company’s stock valued at $127,625,000 after buying an additional 311,146 shares during the period. Fidelis Capital Partners LLC acquired a new position in shares of Sprout Social in the 1st quarter valued at $27,000. Allspring Global Investments Holdings LLC boosted its stake in Sprout Social by 2.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 334,661 shares of the company’s stock worth $19,983,000 after purchasing an additional 7,194 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in Sprout Social by 1.6% in the 1st quarter. Principal Financial Group Inc. now owns 881,101 shares of the company’s stock worth $52,611,000 after purchasing an additional 13,472 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.