Barclays Lowers Sprout Social (NASDAQ:SPT) Price Target to $26.00

Sprout Social (NASDAQ:SPT) had its price objective trimmed by Barclays from $34.00 to $26.00 in a research note released on Monday,Benzinga reports. The firm currently has an overweight rating on the stock.

Other research analysts have also issued research reports about the stock. Morgan Stanley reduced their target price on shares of Sprout Social from $30.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Scotiabank reduced their price objective on shares of Sprout Social from $28.00 to $25.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. Needham & Company LLC dropped their target price on shares of Sprout Social from $55.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. The Goldman Sachs Group reduced their price target on Sprout Social from $29.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. Finally, Jefferies Financial Group lifted their price objective on Sprout Social from $34.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. One investment 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. Based on data from MarketBeat.com, Sprout Social currently has a consensus rating of “Hold” and a consensus price target of $32.15.

Sprout Social Stock Performance

Shares of Sprout Social stock opened at $18.88 on Monday. The firm has a 50 day simple moving average of $24.13 and a 200 day simple moving average of $28.56. Sprout Social has a fifty-two week low of $18.52 and a fifty-two week high of $53.96. 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 firm has a market cap of $1.09 billion, a P/E ratio of -15.73 and a beta of 1.11.

Sprout Social (NASDAQ:SPT) last released its earnings results on Tuesday, February 25th. The company reported ($0.20) earnings per share 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 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%. Sell-side analysts predict that Sprout Social will post -0.99 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Aaron Edward Frederick Rankin sold 23,646 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $24.58, for a total transaction of $581,218.68. Following the completion of the transaction, the director now owns 42,122 shares in the company, valued at approximately $1,035,358.76. This represents a 35.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Karen Walker sold 5,000 shares of Sprout Social stock in a transaction on Monday, April 14th. The shares were sold at an average price of $19.42, for a total transaction of $97,100.00. Following the completion of the sale, the director now owns 25,665 shares in the company, valued at $498,414.30. The trade was a 16.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 125,446 shares of company stock worth $3,115,839 over the last three months. Corporate insiders own 10.97% of the company’s stock.

Institutional Trading of Sprout Social

Large investors have recently added to or reduced their stakes in the company. ArrowMark Colorado Holdings LLC raised its stake in Sprout Social by 380.7% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,772,219 shares of the company’s stock valued at $54,425,000 after buying an additional 1,403,549 shares during the period. Norges Bank bought a new position in shares of Sprout Social during the fourth quarter worth approximately $13,422,000. Dorsey Asset Management LLC lifted its holdings in shares of Sprout Social by 16.7% during the fourth quarter. Dorsey Asset Management LLC now owns 2,306,149 shares of the company’s stock worth $70,822,000 after buying an additional 330,155 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Sprout Social by 324.0% in the 3rd 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 during the period. Finally, Cadian Capital Management LP grew its position in shares of Sprout Social by 6.1% during the 4th quarter. Cadian Capital Management LP now owns 4,548,323 shares of the company’s stock worth $139,679,000 after purchasing an additional 263,267 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.