Piper Sandler Cuts Sprout Social (NASDAQ:SPT) Price Target to $27.00

Sprout Social (NASDAQ:SPT) had its target price reduced by Piper Sandler from $29.00 to $27.00 in a research report released on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts also recently commented on the stock. Scotiabank initiated coverage on shares of Sprout Social in a report on Monday, November 18th. They issued a “sector perform” rating and a $28.00 target price for the company. Morgan Stanley boosted their target price on shares of Sprout Social from $36.00 to $37.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Barclays reduced their target price on shares of Sprout Social from $38.00 to $34.00 and set an “overweight” rating for the company in a report on Wednesday. Needham & Company LLC reiterated a “buy” rating and issued a $55.00 target price on shares of Sprout Social in a report on Wednesday, January 15th. Finally, Oppenheimer dropped their price target on Sprout Social from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $33.85.

Sprout Social Stock Performance

SPT stock opened at $26.52 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96. The business has a 50-day moving average price of $31.51 and a 200 day moving average price of $30.48. The company has a market capitalization of $1.52 billion, a P/E ratio of -22.10 and a beta of 1.06. Sprout Social has a 1-year low of $25.05 and a 1-year high of $64.91.

Sprout Social (NASDAQ:SPT) last announced its earnings results on Tuesday, February 25th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.35). The firm had revenue of $107.09 million during the quarter, compared to the consensus estimate of $106.74 million. Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. As a group, equities research analysts forecast that Sprout Social will post -0.99 EPS for the current fiscal year.

Insider Activity at Sprout Social

In related news, Director Karen Walker sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $34.24, for a total value of $171,200.00. Following the sale, the director now owns 35,665 shares in the company, valued at $1,221,169.60. This represents a 12.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan Paul Barretto sold 13,465 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $31.45, for a total value of $423,474.25. Following the completion of the sale, the chief executive officer now owns 546,343 shares in the company, valued at approximately $17,182,487.35. This represents a 2.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 120,265 shares of company stock worth $3,837,006 over the last quarter. Insiders own 10.97% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SPT. Emerald Mutual Fund Advisers Trust lifted its holdings in Sprout Social by 133.3% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 145,052 shares of the company’s stock valued at $4,217,000 after acquiring an additional 82,879 shares during the period. Emerald Advisers LLC lifted its holdings in Sprout Social by 116.0% in the third quarter. Emerald Advisers LLC now owns 263,041 shares of the company’s stock valued at $7,647,000 after acquiring an additional 141,252 shares during the period. Impax Asset Management Group plc lifted its holdings in Sprout Social by 46.6% in the third quarter. Impax Asset Management Group plc now owns 188,724 shares of the company’s stock valued at $5,486,000 after acquiring an additional 60,000 shares during the period. Principal Financial Group Inc. lifted its holdings in Sprout Social by 20.0% in the third quarter. Principal Financial Group Inc. now owns 1,199,451 shares of the company’s stock valued at $34,868,000 after acquiring an additional 200,190 shares during the period. Finally, Assetmark Inc. lifted its holdings in Sprout Social by 27.5% in the third quarter. Assetmark Inc. now owns 3,717 shares of the company’s stock valued at $108,000 after acquiring an additional 801 shares during the period.

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.