Sprout Social (NASDAQ:SPT) PT Lowered to $50.00

Sprout Social (NASDAQ:SPT) had its target price dropped by stock analysts at Barclays from $72.00 to $50.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective indicates a potential upside of 73.49% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. The Goldman Sachs Group cut shares of Sprout Social from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $80.00 to $44.00 in a report on Friday. Robert W. Baird downgraded Sprout Social from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $72.00 to $45.00 in a research note on Friday. Jefferies Financial Group assumed coverage on Sprout Social in a report on Wednesday, February 7th. They issued a “buy” rating and a $76.00 target price for the company. Needham & Company LLC lowered their price target on Sprout Social from $75.00 to $55.00 and set a “buy” rating on the stock in a report on Friday. Finally, Piper Sandler cut shares of Sprout Social from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $66.00 to $40.00 in a research note on Friday. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.07.

Sprout Social Price Performance

Shares of SPT stock opened at $28.82 on Friday. Sprout Social has a fifty-two week low of $27.85 and a fifty-two week high of $68.41. The stock’s 50-day moving average is $55.98 and its two-hundred day moving average is $56.71. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.38.

Sprout Social (NASDAQ:SPT) last released its quarterly earnings data on Tuesday, February 20th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). The firm had revenue of $93.58 million during the quarter, compared to analyst estimates of $90.76 million. Sprout Social had a negative return on equity of 42.60% and a negative net margin of 19.64%. As a group, analysts anticipate that Sprout Social will post -1.17 earnings per share for the current year.

Insider Transactions at Sprout Social

In related news, President Ryan Paul Barretto sold 5,600 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $59.63, for a total transaction of $333,928.00. Following the transaction, the president now directly owns 209,375 shares in the company, valued at $12,485,031.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Sprout Social news, President Ryan Paul Barretto sold 5,600 shares of Sprout Social stock in a transaction on Monday, February 5th. The shares were sold at an average price of $59.63, for a total transaction of $333,928.00. Following the sale, the president now owns 209,375 shares in the company, valued at $12,485,031.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Aaron Edward Frederick Rankin sold 44,000 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $59.60, for a total transaction of $2,622,400.00. Following the completion of the sale, the director now directly owns 40,888 shares in the company, valued at approximately $2,436,924.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 140,200 shares of company stock worth $8,171,958. 10.97% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SPT. Vanguard Group Inc. raised its holdings in shares of Sprout Social by 3.9% in the 3rd 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 in the last quarter. Baillie Gifford & Co. boosted its stake in Sprout Social by 244.1% in the 3rd quarter. Baillie Gifford & Co. now owns 4,404,402 shares of the company’s stock valued at $219,692,000 after buying an additional 3,124,376 shares in the last quarter. Wellington Management Group LLP grew its position in Sprout Social by 27.5% in the third quarter. Wellington Management Group LLP now owns 3,953,155 shares of the company’s stock valued at $197,183,000 after acquiring an additional 853,127 shares during the period. Clearbridge Investments LLC raised its stake in Sprout Social by 6.5% during the fourth quarter. Clearbridge Investments LLC now owns 2,532,339 shares of the company’s stock worth $155,587,000 after acquiring an additional 153,642 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings 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 acquiring an additional 311,146 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.