Sprout Social (NASDAQ:SPT) Price Target Cut to $34.00 by Analysts at Stifel Nicolaus

Sprout Social (NASDAQ:SPT) had its target price dropped by investment analysts at Stifel Nicolaus from $45.00 to $34.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 25.73% from the company’s current price.

A number of other research analysts also recently issued reports on the company. Piper Sandler decreased their price objective on Sprout Social from $29.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday. Oppenheimer dropped their target price on Sprout Social from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Tuesday, December 3rd. Needham & Company LLC lowered their price objective on shares of Sprout Social from $55.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday. Barclays cut their target price on shares of Sprout Social from $38.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Morgan Stanley boosted their price target on Sprout Social from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $36.92.

Sprout Social Price Performance

Shares of SPT opened at $27.04 on Wednesday. The stock has a 50 day simple moving average of $31.83 and a 200 day simple moving average of $30.55. Sprout Social has a 52-week low of $25.05 and a 52-week high of $65.32. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market capitalization of $1.55 billion, a PE ratio of -22.09 and a beta of 1.06.

Sprout Social (NASDAQ:SPT) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.35). The company had revenue of $107.09 million for the quarter, compared to analyst estimates of $106.74 million. Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. Sell-side analysts predict that Sprout Social will post -0.99 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Sprout Social

Several hedge funds have recently modified their holdings of SPT. Emerald Mutual Fund Advisers Trust raised its position in Sprout Social by 133.3% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 145,052 shares of the company’s stock valued at $4,217,000 after purchasing an additional 82,879 shares during the last quarter. Emerald Advisers LLC raised its holdings in Sprout Social by 116.0% in the 3rd quarter. Emerald Advisers LLC now owns 263,041 shares of the company’s stock valued at $7,647,000 after buying an additional 141,252 shares during the last quarter. Impax Asset Management Group plc boosted its position in Sprout Social by 46.6% during the 3rd quarter. Impax Asset Management Group plc now owns 188,724 shares of the company’s stock worth $5,486,000 after buying an additional 60,000 shares during the period. Principal Financial Group Inc. grew its holdings in Sprout Social by 20.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,199,451 shares of the company’s stock worth $34,868,000 after acquiring an additional 200,190 shares during the last quarter. Finally, Assetmark Inc. increased its position in Sprout Social by 27.5% in the 3rd quarter. Assetmark Inc. now owns 3,717 shares of the company’s stock valued at $108,000 after acquiring an additional 801 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.