Sprout Social (NASDAQ:SPT) Price Target Cut to $27.00 by Analysts at Piper Sandler

Sprout Social (NASDAQ:SPT) had its price target cut by Piper Sandler from $29.00 to $27.00 in a report released on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities research analysts have also commented on the stock. Jefferies Financial Group upped their price target on shares of Sprout Social from $34.00 to $42.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Scotiabank assumed 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 for the company. Needham & Company LLC restated a “buy” rating and issued a $55.00 price objective on shares of Sprout Social in a report on Wednesday, January 15th. Barclays decreased their price objective on shares of Sprout Social from $38.00 to $34.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Morgan Stanley upped their price objective on shares of Sprout Social from $36.00 to $37.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $34.08.

Sprout Social Price Performance

Shares of NASDAQ:SPT opened at $28.09 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19. Sprout Social has a 12 month low of $25.05 and a 12 month high of $64.91. The stock has a market cap of $1.61 billion, a P/E ratio of -23.41 and a beta of 1.06. The company has a 50 day moving average of $31.73 and a 200 day moving average of $30.54.

Sprout Social (NASDAQ:SPT) last announced 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 business had revenue of $107.09 million during the quarter, compared to the consensus estimate of $106.74 million. As a group, sell-side analysts forecast that Sprout Social will post -0.99 EPS for the current fiscal year.

Insider Activity

In other Sprout Social news, CEO Ryan Paul Barretto sold 13,465 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $31.45, for a total transaction of $423,474.25. Following the sale, the chief executive officer now owns 546,343 shares in the company, valued at approximately $17,182,487.35. This trade represents a 2.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Justyn Russell Howard sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $31.67, for a total transaction of $1,266,800.00. Following the sale, the insider now owns 27,136 shares in the company, valued at approximately $859,397.12. The trade was a 59.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 120,265 shares of company stock valued at $3,837,006 in the last 90 days. 10.97% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sprout Social

A number of institutional investors have recently added to or reduced their stakes in SPT. Woodline Partners LP purchased a new position in Sprout Social during the fourth quarter worth $233,000. Two Sigma Advisers LP lifted its stake in Sprout Social by 96.4% in the fourth quarter. Two Sigma Advisers LP now owns 110,600 shares of the company’s stock worth $3,397,000 after acquiring an additional 54,300 shares during the period. ProShare Advisors LLC lifted its position in shares of Sprout Social by 49.9% during the fourth quarter. ProShare Advisors LLC now owns 14,459 shares of the company’s stock valued at $444,000 after buying an additional 4,811 shares during the last quarter. Nuveen Asset Management LLC lifted its position in shares of Sprout Social by 110.7% during the fourth quarter. Nuveen Asset Management LLC now owns 454,162 shares of the company’s stock valued at $13,947,000 after buying an additional 238,650 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its position in shares of Sprout Social by 44.3% during the fourth quarter. Lazard Asset Management LLC now owns 62,176 shares of the company’s stock valued at $1,909,000 after buying an additional 19,098 shares during 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.