Sprout Social (NASDAQ:SPT) Price Target Cut to $46.00

Sprout Social (NASDAQ:SPT) had its target price reduced by stock analysts at Cantor Fitzgerald from $74.00 to $46.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald’s target price would suggest a potential upside of 59.61% from the stock’s current price.

Several other equities analysts have also commented on SPT. Robert W. Baird lowered Sprout Social from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $72.00 to $45.00 in a research note on Friday. Morgan Stanley cut their price objective on shares of Sprout Social from $73.00 to $65.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. The Goldman Sachs Group downgraded shares of Sprout Social from a “buy” rating to a “neutral” rating and lowered their target price for the company from $80.00 to $44.00 in a report on Friday. KeyCorp downgraded shares of Sprout Social from an “overweight” rating to a “sector weight” rating in a research note on Friday. Finally, BTIG Research cut shares of Sprout Social from a “buy” rating to a “neutral” rating in a research note on Friday. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Sprout Social has an average rating of “Moderate Buy” and a consensus price target of $57.07.

Sprout Social Price Performance

Shares of NASDAQ SPT opened at $28.82 on Friday. Sprout Social has a 12-month low of $27.85 and a 12-month high of $68.41. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.38. The business’s fifty day simple moving average is $55.98 and its 200-day simple moving average is $56.71.

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

Insider Buying and Selling at Sprout Social

In related news, CFO Preto Joseph Del sold 1,500 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $7,602,396.62. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Preto Joseph Del sold 1,500 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $59.71, for a total transaction of $89,565.00. Following the completion of the sale, the chief financial officer now owns 127,322 shares of the company’s stock, valued at approximately $7,602,396.62. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Aaron Edward Frederick Rankin sold 44,000 shares of the stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $59.60, for a total transaction of $2,622,400.00. Following the sale, the director now owns 40,888 shares in the company, valued at approximately $2,436,924.80. The disclosure for this sale can be found here. Insiders have sold 140,200 shares of company stock worth $8,171,958 over the last quarter. 10.97% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sprout Social

Several institutional investors have recently modified their holdings of SPT. Vanguard Group Inc. boosted its position in shares of Sprout Social by 3.9% during the third quarter. Vanguard Group Inc. now owns 5,084,389 shares of the company’s stock worth $253,609,000 after buying an additional 191,471 shares during the period. Baillie Gifford & Co. boosted its position in Sprout Social by 244.1% during the 3rd quarter. Baillie Gifford & Co. now owns 4,404,402 shares of the company’s stock worth $219,692,000 after acquiring an additional 3,124,376 shares during the period. Wellington Management Group LLP grew its stake in shares of Sprout Social by 27.5% in the third quarter. Wellington Management Group LLP now owns 3,953,155 shares of the company’s stock worth $197,183,000 after purchasing an additional 853,127 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of Sprout Social by 6.5% during the fourth quarter. Clearbridge Investments LLC now owns 2,532,339 shares of the company’s stock valued at $155,587,000 after purchasing an additional 153,642 shares during the period. Finally, Jennison Associates LLC raised its stake in shares of Sprout Social by 17.0% during the first quarter. Jennison Associates LLC now owns 2,137,422 shares of the company’s stock valued at $127,625,000 after purchasing an additional 311,146 shares in 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.