Sprout Social (NASDAQ:SPT) PT Lowered to $55.00

Sprout Social (NASDAQ:SPT) had its price objective cut by Needham & Company LLC from $75.00 to $55.00 in a research report released on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

SPT has been the subject of several other research reports. Robert W. Baird downgraded shares of Sprout Social from an outperform rating to a neutral rating and reduced their price target for the company from $72.00 to $45.00 in a research report on Friday. Stifel Nicolaus upped their price target on shares of Sprout Social from $60.00 to $70.00 and gave the company a buy rating in a research report on Friday, January 19th. KeyCorp lowered shares of Sprout Social from an overweight rating to a sector weight rating in a research note on Friday. Jefferies Financial Group began coverage on shares of Sprout Social in a research note on Wednesday, February 7th. They issued a buy rating and a $76.00 price objective on the stock. Finally, Barclays dropped their price objective on shares of Sprout Social from $75.00 to $72.00 and set an overweight rating on the stock in a research note on Wednesday, February 21st. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $57.07.

Sprout Social Stock Performance

Shares of NASDAQ:SPT traded down $19.33 during trading on Friday, reaching $28.82. 13,470,229 shares of the company’s stock traded hands, compared to its average volume of 679,800. Sprout Social has a 12 month low of $27.85 and a 12 month high of $68.41. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market capitalization of $1.62 billion, a P/E ratio of -23.06 and a beta of 1.09. The company has a 50 day moving average of $55.98 and a 200-day moving average of $56.71.

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). Sprout Social had a negative return on equity of 42.60% and a negative net margin of 19.64%. The firm had revenue of $93.58 million during the quarter, compared to the consensus estimate of $90.76 million. On average, equities analysts expect that Sprout Social will post -1.17 EPS for the current year.

Insider Activity at Sprout Social

In related news, CFO Preto Joseph Del sold 1,500 shares of the firm’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $59.71, for a total value of $89,565.00. Following the transaction, the chief financial officer now directly owns 127,322 shares in the company, valued at approximately $7,602,396.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Sprout Social news, CEO Justyn Russell Howard sold 20,000 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 406,636 shares of the company’s stock, valued at approximately $22,983,066.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Preto Joseph Del sold 1,500 shares of the stock in a transaction on 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 sale, the chief financial officer now directly owns 127,322 shares of the company’s stock, valued at $7,602,396.62. The disclosure for this sale can be found here. In the last three months, insiders have sold 140,200 shares of company stock worth $8,171,958. 10.97% of the stock is owned by insiders.

Hedge Funds Weigh In On Sprout Social

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Atria Wealth Solutions Inc. lifted its holdings in shares of Sprout Social by 4.7% during the 3rd quarter. Atria Wealth Solutions Inc. now owns 4,654 shares of the company’s stock worth $232,000 after acquiring an additional 208 shares during the period. Verdence Capital Advisors LLC lifted its holdings in shares of Sprout Social by 3.2% during the 4th quarter. Verdence Capital Advisors LLC now owns 7,345 shares of the company’s stock worth $451,000 after acquiring an additional 225 shares during the period. Arcadia Investment Management Corp MI lifted its holdings 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 worth $64,000 after acquiring an additional 281 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Sprout Social by 14.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,500 shares of the company’s stock worth $125,000 after acquiring an additional 323 shares during the period. Finally, Fidelis Capital Partners LLC bought a new position in shares of Sprout Social during the 1st quarter worth about $27,000.

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.