Sprout Social (NASDAQ:SPT) Price Target Cut to $43.00

Sprout Social (NASDAQ:SPT) had its price target cut by equities research analysts at Oppenheimer from $76.00 to $43.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s price target would suggest a potential upside of 49.20% from the company’s current price.

Several other brokerages also recently issued reports on SPT. Piper Sandler downgraded shares of Sprout Social from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $66.00 to $40.00 in a report on Friday. BTIG Research cut shares of Sprout Social from a “buy” rating to a “neutral” rating in a research note on Friday. Jefferies Financial Group assumed coverage on shares of Sprout Social in a research report on Wednesday, February 7th. They set a “buy” rating and a $76.00 price target on the stock. Barclays cut 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 report on Wednesday, February 21st. Finally, KeyCorp cut shares of Sprout Social from an “overweight” rating to a “sector weight” rating in a research report on Friday. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.07.

Sprout Social Price Performance

Shares of SPT opened at $28.82 on Friday. Sprout Social has a one year low of $27.85 and a one year high of $68.41. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a 50 day simple moving average of $55.98 and a two-hundred day simple moving average of $56.71.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings data 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 net margin of 19.64% and a negative return on equity of 42.60%. The firm had revenue of $93.58 million for the quarter, compared to analyst estimates of $90.76 million. On average, equities research analysts anticipate that Sprout Social will post -1.17 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Preto Joseph Del sold 1,500 shares of Sprout Social stock in a transaction that occurred 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 sale, the chief financial officer now owns 127,322 shares of the company’s stock, valued at approximately $7,602,396.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Preto Joseph Del sold 1,500 shares of Sprout Social stock in a transaction that occurred 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 sale, the chief financial officer now owns 127,322 shares of the company’s stock, valued at approximately $7,602,396.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Ryan Paul Barretto sold 5,600 shares of Sprout Social stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $59.63, for a total transaction of $333,928.00. Following the completion of the sale, the president now directly owns 209,375 shares in the company, valued at approximately $12,485,031.25. The disclosure for this sale can be found here. Insiders have sold a total of 140,200 shares of company stock valued at $8,171,958 in the last 90 days. 10.97% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Fidelis Capital Partners LLC bought a new stake in shares of Sprout Social during the 1st quarter worth $27,000. RiverPark Advisors LLC bought a new stake in shares of Sprout Social during the 3rd quarter worth $37,000. Guinness Atkinson Asset Management Inc bought a new stake in shares of Sprout Social during the 3rd quarter worth $40,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Sprout Social during the 3rd quarter worth $47,000. Finally, 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 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.