The Goldman Sachs Group Issues Pessimistic Forecast for Sprout Social (NASDAQ:SPT) Stock Price

Sprout Social (NASDAQ:SPT) had its target price lowered by equities research analysts at The Goldman Sachs Group from $34.00 to $29.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 6.03% from the stock’s current price.

Several other equities analysts have also issued reports on the company. Piper Sandler cut their target price on Sprout Social from $29.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday. Oppenheimer cut their price objective on shares of Sprout Social from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 3rd. Needham & Company LLC reduced their price objective on shares of Sprout Social from $55.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday. Stifel Nicolaus lowered their target price on shares of Sprout Social from $45.00 to $34.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Morgan Stanley cut their price target on shares of Sprout Social from $37.00 to $30.00 and set an “equal weight” rating on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Sprout Social currently has a consensus rating of “Hold” and a consensus target price of $33.85.

Sprout Social Price Performance

Shares of SPT opened at $27.35 on Wednesday. The stock has a market capitalization of $1.57 billion, a PE ratio of -22.79 and a beta of 1.06. The company has a 50 day moving average price of $31.63 and a 200-day moving average price of $30.52. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96. Sprout Social has a fifty-two week low of $25.05 and a fifty-two week high of $64.91.

Sprout Social (NASDAQ:SPT) last posted its earnings results 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 company had revenue of $107.09 million for the quarter, compared to analysts’ expectations of $106.74 million. Equities analysts predict that Sprout Social will post -0.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Sprout Social

In other Sprout Social news, Director Karen Walker sold 5,000 shares of Sprout Social stock in a transaction on Monday, January 13th. The shares were sold at an average price of $30.26, for a total value of $151,300.00. Following the completion of the transaction, the director now owns 30,665 shares of the company’s stock, valued at approximately $927,922.90. The trade was a 14.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Paul Barretto sold 13,465 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $31.45, for a total transaction of $423,474.25. Following the sale, the chief executive officer now directly owns 546,343 shares in the company, valued at approximately $17,182,487.35. The trade was a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 120,265 shares of company stock valued at $3,837,006. 10.97% of the stock is owned by insiders.

Hedge Funds Weigh In On Sprout Social

Institutional investors and hedge funds have recently modified their holdings of the business. Jefferies Financial Group Inc. acquired a new stake in Sprout Social in the fourth quarter valued at approximately $4,296,000. Woodline Partners LP purchased a new position in shares of Sprout Social during the 4th quarter valued at approximately $233,000. Two Sigma Advisers LP grew its stake in Sprout Social by 96.4% in the 4th quarter. Two Sigma Advisers LP now owns 110,600 shares of the company’s stock valued at $3,397,000 after acquiring an additional 54,300 shares during the period. ProShare Advisors LLC increased its holdings in Sprout Social by 49.9% in the 4th quarter. ProShare Advisors LLC now owns 14,459 shares of the company’s stock worth $444,000 after acquiring an additional 4,811 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its position in Sprout Social by 110.7% during the fourth quarter. Nuveen Asset Management LLC now owns 454,162 shares of the company’s stock worth $13,947,000 after acquiring an additional 238,650 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.