Sprout Social (NASDAQ:SPT) Given New $65.00 Price Target at Morgan Stanley

Sprout Social (NASDAQ:SPT) had its target price reduced by Morgan Stanley from $73.00 to $65.00 in a research note released on Wednesday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

SPT has been the subject of a number of other reports. Needham & Company LLC reissued a buy rating and set a $75.00 price target on shares of Sprout Social in a research note on Tuesday. Canaccord Genuity Group reissued a buy rating and set a $70.00 price target on shares of Sprout Social in a research note on Wednesday, February 21st. Jefferies Financial Group started coverage on shares of Sprout Social in a research note on Wednesday, February 7th. They set a buy rating and a $76.00 price target for the company. Stifel Nicolaus boosted their price target on shares of Sprout Social from $60.00 to $70.00 and gave the stock a buy rating in a research note on Friday, January 19th. Finally, KeyCorp started coverage on shares of Sprout Social in a research note on Thursday, March 21st. They set an overweight rating and a $83.00 price target for the company. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $72.31.

Sprout Social Price Performance

Shares of NASDAQ SPT opened at $52.16 on Wednesday. Sprout Social has a 1-year low of $37.00 and a 1-year high of $68.41. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.38. The company has a 50-day moving average of $59.55 and a two-hundred day moving average of $56.76.

Sprout Social (NASDAQ:SPT) last announced its earnings results on Tuesday, February 20th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). Sprout Social had a negative return on equity of 41.25% and a negative net margin of 19.91%. The company had revenue of $93.58 million during the quarter, compared to the consensus estimate of $90.76 million. On average, equities research analysts expect that Sprout Social will post -1.17 earnings per share for the current year.

Insider Activity

In other news, CEO Justyn Russell Howard sold 20,000 shares of the company’s stock in a transaction that occurred 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 transaction, 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 Securities & Exchange Commission, which can be accessed through this link. In other Sprout Social news, CEO Justyn Russell Howard sold 20,000 shares of the company’s stock in a transaction on Monday, April 8th. The shares were 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 $22,983,066.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Preto Joseph Del sold 1,500 shares of the company’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $59.71, for a total transaction of $89,565.00. Following the sale, the chief financial officer now directly owns 127,322 shares in the company, valued at $7,602,396.62. The disclosure for this sale can be found here. Insiders sold 140,200 shares of company stock worth $8,171,958 over the last quarter. 11.93% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sprout Social

Several large investors have recently modified their holdings of the stock. WoodTrust Financial Corp raised its position in shares of Sprout Social by 6.7% in the first quarter. WoodTrust Financial Corp now owns 23,800 shares of the company’s stock valued at $1,421,000 after purchasing an additional 1,500 shares during the period. Moody National Bank Trust Division grew its stake in shares of Sprout Social by 2.8% in the first quarter. Moody National Bank Trust Division now owns 75,012 shares of the company’s stock valued at $4,479,000 after acquiring an additional 2,043 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Sprout Social by 5.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 306,640 shares of the company’s stock valued at $18,840,000 after acquiring an additional 16,726 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its stake in shares of Sprout Social by 20.0% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 94,047 shares of the company’s stock valued at $5,777,000 after acquiring an additional 15,662 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Sprout Social by 148.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 76,620 shares of the company’s stock valued at $4,709,000 after acquiring an additional 45,742 shares in the last quarter.

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.