Sprout Social (NASDAQ:SPT) PT Lowered to $55.00

Sprout Social (NASDAQ:SPT) had its price objective decreased by Needham & Company LLC from $75.00 to $55.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target would suggest a potential upside of 90.84% from the stock’s previous close.

A number of other research analysts also recently issued reports on the stock. Piper Sandler downgraded shares of Sprout Social from an “overweight” rating to a “neutral” rating and cut their target price for the company from $66.00 to $40.00 in a research report on Friday. Jefferies Financial Group started coverage on shares of Sprout Social in a report on Wednesday, February 7th. They set a “buy” rating and a $76.00 target price for the company. KeyCorp downgraded Sprout Social from an “overweight” rating to a “sector weight” rating in a research note on Friday. Barclays decreased their price objective on Sprout Social from $75.00 to $72.00 and set an “overweight” rating for the company in a research note on Wednesday, February 21st. Finally, Stifel Nicolaus upped their price objective on Sprout Social from $60.00 to $70.00 and gave the company a “buy” rating in a report on Friday, January 19th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $57.07.

Sprout Social Price Performance

Shares of NASDAQ SPT opened at $28.82 on Friday. Sprout Social has a 1-year low of $27.85 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 $55.98 and a two-hundred day moving average of $56.71.

Sprout Social (NASDAQ:SPT) last posted its quarterly earnings data on Tuesday, February 20th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.02). The company had revenue of $93.58 million during the quarter, compared to the consensus estimate of $90.76 million. Sprout Social had a negative return on equity of 42.60% and a negative net margin of 19.64%. On average, equities research analysts expect that Sprout Social will post -1.17 earnings per share for the current year.

Insider Buying and Selling

In other Sprout Social news, President Ryan Paul Barretto sold 5,600 shares of Sprout Social stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $59.63, for a total value of $333,928.00. Following the completion of the sale, the president now owns 209,375 shares in the company, valued at approximately $12,485,031.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Justyn Russell Howard sold 40,000 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $58.36, for a total transaction of $2,334,400.00. Following the completion of the sale, the chief executive officer now directly owns 287,912 shares in the company, valued at approximately $16,802,544.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Ryan Paul Barretto sold 5,600 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $59.63, for a total value of $333,928.00. Following the sale, the president now directly owns 209,375 shares in the company, valued at $12,485,031.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 140,200 shares of company stock valued at $8,171,958. Insiders own 10.97% of the company’s stock.

Hedge Funds Weigh In On Sprout Social

Several hedge funds have recently bought and sold shares of the company. Fidelis Capital Partners LLC acquired a new position in Sprout Social during the first quarter worth about $27,000. RiverPark Advisors LLC acquired a new position in Sprout Social during the 3rd quarter worth approximately $37,000. Guinness Atkinson Asset Management Inc bought a new position in Sprout Social in the 3rd quarter valued at approximately $40,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Sprout Social during the third quarter worth $47,000. Finally, Arcadia Investment Management Corp MI grew its stake in shares of Sprout Social by 36.7% during the fourth quarter. Arcadia Investment Management Corp MI now owns 1,047 shares of the company’s stock worth $64,000 after buying 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.