Barclays Cuts Sprout Social (NASDAQ:SPT) Price Target to $50.00

Sprout Social (NASDAQ:SPT) had its target price trimmed by Barclays from $72.00 to $50.00 in a research note released on Friday, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities analysts have also recently commented on the company. Oppenheimer reduced their target price on Sprout Social from $76.00 to $43.00 and set an outperform rating for the company in a research note on Friday. Needham & Company LLC reduced their target price on Sprout Social from $75.00 to $55.00 and set a buy rating for the company in a research note on Friday. Piper Sandler cut Sprout Social from an overweight rating to a neutral rating and reduced their target price for the company from $66.00 to $40.00 in a research note on Friday. Robert W. Baird lowered Sprout Social from an outperform rating to a neutral rating and dropped their price target for the company from $72.00 to $45.00 in a research report on Friday. Finally, Jefferies Financial Group began coverage on Sprout Social in a research report on Wednesday, February 7th. They set a buy rating and a $76.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $57.07.

Sprout Social Stock Down 1.1 %

NASDAQ SPT opened at $28.50 on Friday. The stock has a market cap of $1.60 billion, a PE ratio of -23.06 and a beta of 1.09. Sprout Social has a fifty-two week low of $27.85 and a fifty-two week high of $68.41. The business has a 50 day moving average price of $55.98 and a two-hundred day moving average price of $56.80. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.38.

Sprout Social (NASDAQ:SPT) last released its earnings results on Tuesday, February 20th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.02). The business had revenue of $93.58 million for the quarter, compared to analysts’ expectations of $90.76 million. Sprout Social had a negative net margin of 19.64% and a negative return on equity of 42.60%. As a group, sell-side analysts predict that Sprout Social will post -1.17 EPS for the current fiscal year.

Insider Activity at Sprout Social

In related news, CEO Justyn Russell Howard sold 20,000 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was 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 of the company’s stock, valued at $22,983,066.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Justyn Russell Howard sold 20,000 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was 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 of the company’s stock, valued at $22,983,066.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Preto Joseph Del sold 1,500 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $59.63, for a total transaction of $89,445.00. Following the completion of the transaction, the chief financial officer now owns 172,644 shares of the company’s stock, valued at $10,294,761.72. The disclosure for this sale can be found here. Insiders sold 89,100 shares of company stock valued at $5,126,065 over the last 90 days. 10.97% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Fidelis Capital Partners LLC purchased a new stake in Sprout Social in the 1st quarter worth about $27,000. RiverPark Advisors LLC acquired a new position in shares of Sprout Social in the 3rd quarter valued at about $37,000. Guinness Atkinson Asset Management Inc purchased a new stake in shares of Sprout Social in the third quarter worth approximately $40,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Sprout Social during the third quarter worth approximately $47,000. Finally, Arcadia Investment Management Corp MI grew its position in Sprout Social by 36.7% during the fourth quarter. Arcadia Investment Management Corp MI now owns 1,047 shares of the company’s stock valued at $64,000 after purchasing an additional 281 shares in the last quarter.

About Sprout Social

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.