Sprout Social (NASDAQ:SPT) Price Target Lowered to $35.00 at Canaccord Genuity Group

Sprout Social (NASDAQ:SPT) had its price target trimmed by Canaccord Genuity Group from $40.00 to $35.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities analysts have also recently issued reports about the stock. The Goldman Sachs Group decreased their price target on shares of Sprout Social from $34.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday. Barclays decreased their price objective on Sprout Social from $38.00 to $34.00 and set an “overweight” rating for the company in a report on Wednesday. Stifel Nicolaus cut their target price on Sprout Social from $45.00 to $34.00 and set a “buy” rating on the stock in a report on Wednesday. Jefferies Financial Group increased their price target on Sprout Social from $34.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Finally, Oppenheimer lowered their price objective on Sprout Social from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $33.85.

Sprout Social Trading Down 3.0 %

NASDAQ SPT opened at $26.52 on Wednesday. The company has a market cap of $1.52 billion, a price-to-earnings ratio of -22.10 and a beta of 1.06. Sprout Social has a twelve month low of $25.05 and a twelve month high of $64.91. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. The business’s fifty day moving average is $31.51 and its 200 day moving average is $30.48.

Sprout Social (NASDAQ:SPT) last announced its quarterly 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 for the quarter, compared to analyst estimates of $106.74 million. Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. As a group, sell-side analysts expect that Sprout Social will post -0.99 EPS for the current fiscal year.

Insider Buying and Selling at Sprout Social

In other news, CEO Ryan Paul Barretto sold 13,465 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was 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 directly owns 546,343 shares in the company, valued at $17,182,487.35. This trade represents a 2.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Karen Walker sold 5,000 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $34.24, for a total value of $171,200.00. Following the completion of the sale, the director now directly owns 35,665 shares of the company’s stock, valued at $1,221,169.60. The trade was a 12.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 120,265 shares of company stock valued at $3,837,006. 10.97% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sprout Social

Several hedge funds and other institutional investors have recently made changes to their positions in SPT. Impax Asset Management Group plc raised its stake in shares of Sprout Social by 46.6% in the third quarter. Impax Asset Management Group plc now owns 188,724 shares of the company’s stock worth $5,486,000 after purchasing an additional 60,000 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Sprout Social by 324.0% during the third quarter. JPMorgan Chase & Co. now owns 402,947 shares of the company’s stock valued at $11,714,000 after purchasing an additional 307,906 shares in the last quarter. Principal Financial Group Inc. grew its position in Sprout Social by 20.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,199,451 shares of the company’s stock worth $34,868,000 after purchasing an additional 200,190 shares in the last quarter. M&T Bank Corp bought a new position in shares of Sprout Social during the 3rd quarter worth approximately $1,074,000. Finally, Zacks Investment Management purchased a new position in shares of Sprout Social in the 3rd quarter worth approximately $2,120,000.

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.