Sprout Social (NASDAQ:SPT) Price Target Lowered to $49.00 at Morgan Stanley

Sprout Social (NASDAQ:SPT) had its price objective cut by Morgan Stanley from $65.00 to $49.00 in a research note published on Friday, Benzinga reports. They currently have an equal weight rating on the stock.

Several other research firms have also recently weighed in on SPT. William Blair restated a market perform rating on shares of Sprout Social in a research note on Friday. The Goldman Sachs Group cut shares of Sprout Social from a buy rating to a neutral rating and lowered their target price for the company from $80.00 to $44.00 in a research note on Friday. Jefferies Financial Group began coverage on shares of Sprout Social in a research note on Wednesday, February 7th. They issued a buy rating and a $76.00 price target for the company. BTIG Research downgraded shares of Sprout Social from a buy rating to a neutral rating in a research report on Friday. Finally, Robert W. Baird downgraded shares of Sprout Social from an outperform rating to a neutral rating and cut their target price for the stock from $72.00 to $45.00 in a research report on Friday. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Sprout Social currently has an average rating of Moderate Buy and a consensus target price of $57.07.

Sprout Social Stock Down 40.1 %

Shares of SPT traded down $19.33 during mid-day trading on Friday, reaching $28.82. The company had a trading volume of 13,470,229 shares, compared to its average volume of 679,800. Sprout Social has a 52 week low of $27.85 and a 52 week high of $68.41. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of -23.06 and a beta of 1.09. The firm has a 50-day moving average price of $55.98 and a 200 day moving average price of $56.71.

Sprout Social (NASDAQ:SPT) last released its earnings results on Tuesday, February 20th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). The company had revenue of $93.58 million during the quarter, compared to analysts’ expectations 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, sell-side analysts forecast that Sprout Social will post -1.17 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Justyn Russell Howard sold 20,000 shares of the company’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $56.52, for a total transaction of $1,130,400.00. Following the completion of the transaction, the chief executive officer now owns 406,636 shares in the company, valued at $22,983,066.72. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Sprout Social news, CEO Justyn Russell Howard sold 20,000 shares of Sprout Social stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $56.52, for a total value of $1,130,400.00. Following the sale, the chief executive officer now owns 406,636 shares of the company’s stock, valued at approximately $22,983,066.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Preto Joseph Del sold 1,500 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $59.71, for a total value of $89,565.00. Following the transaction, the chief financial officer now owns 127,322 shares of the company’s stock, valued at $7,602,396.62. 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. Company insiders own 10.97% of the company’s stock.

Institutional Trading of Sprout Social

A number of large investors have recently made changes to their positions in the business. Atria Wealth Solutions Inc. raised its holdings in Sprout Social by 4.7% during the 3rd quarter. Atria Wealth Solutions Inc. now owns 4,654 shares of the company’s stock valued at $232,000 after buying an additional 208 shares during the period. Verdence Capital Advisors LLC boosted its stake in shares of Sprout Social by 3.2% during the 4th quarter. Verdence Capital Advisors LLC now owns 7,345 shares of the company’s stock worth $451,000 after purchasing an additional 225 shares during the period. Arcadia Investment Management Corp MI boosted its stake in shares of Sprout Social by 36.7% during the 4th quarter. Arcadia Investment Management Corp MI now owns 1,047 shares of the company’s stock worth $64,000 after purchasing an additional 281 shares during the period. PNC Financial Services Group Inc. lifted its stake in Sprout Social by 14.8% in the third quarter. PNC Financial Services Group Inc. now owns 2,500 shares of the company’s stock worth $125,000 after purchasing an additional 323 shares during the last quarter. Finally, Fidelis Capital Partners LLC purchased a new position in shares of Sprout Social during the first quarter valued at approximately $27,000.

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.