Oppenheimer Cuts Sprout Social (NASDAQ:SPT) Price Target to $43.00

Sprout Social (NASDAQ:SPT) had its price target reduced by Oppenheimer from $76.00 to $43.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have an outperform rating on the stock.

SPT has been the subject of a number of other reports. Jefferies Financial Group initiated coverage on Sprout Social in a research note on Wednesday, February 7th. They issued a buy rating and a $76.00 price objective for the company. The Goldman Sachs Group cut Sprout Social from a buy rating to a neutral rating and lowered their target price for the stock from $80.00 to $44.00 in a research note on Friday. Robert W. Baird cut Sprout Social from an outperform rating to a neutral rating and lowered their target price for the stock from $72.00 to $45.00 in a research note on Friday. KeyCorp cut Sprout Social from an overweight rating to a sector weight rating in a research note on Friday. Finally, Barclays lowered their target price on Sprout Social from $75.00 to $72.00 and set an overweight rating for the company in a research note on Wednesday, February 21st. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $57.07.

Sprout Social Trading Down 1.1 %

Shares of NASDAQ SPT opened at $28.50 on Friday. Sprout Social has a twelve month low of $27.85 and a twelve month high of $68.41. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.38. The stock has a fifty day simple moving average of $55.98 and a 200-day simple moving average of $56.80. The stock has a market capitalization of $1.60 billion, a PE ratio of -23.06 and a beta of 1.09.

Sprout Social (NASDAQ:SPT) last issued its quarterly earnings data on Tuesday, February 20th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). Sprout Social had a negative net margin of 19.64% and a negative return on equity of 42.60%. The firm had revenue of $93.58 million during the quarter, compared to analyst estimates of $90.76 million. On average, equities analysts forecast that Sprout Social will post -1.17 earnings per share for the current year.

Insider Transactions at Sprout Social

In other news, President Ryan Paul Barretto sold 5,600 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $56.95, for a total value of $318,920.00. Following the completion of the sale, the president now directly owns 198,175 shares of the company’s stock, valued at approximately $11,286,066.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, President Ryan Paul Barretto sold 5,600 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $56.95, for a total value of $318,920.00. Following the completion of the sale, the president now directly owns 198,175 shares of the company’s stock, valued at approximately $11,286,066.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Aaron Edward Frederick Rankin sold 22,000 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $56.95, for a total value of $1,252,900.00. Following the completion of the sale, the director now directly owns 44,487 shares of the company’s stock, valued at $2,533,534.65. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,100 shares of company stock valued at $5,126,065. 10.97% of the stock is currently owned by corporate insiders.

Institutional Trading of Sprout Social

Institutional investors and hedge funds have recently made changes to their positions in the company. Atria Wealth Solutions Inc. raised its stake 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 acquiring an additional 208 shares during the last quarter. Verdence Capital Advisors LLC raised its stake in Sprout Social by 3.2% during the 4th quarter. Verdence Capital Advisors LLC now owns 7,345 shares of the company’s stock valued at $451,000 after acquiring an additional 225 shares during the last quarter. Arcadia Investment Management Corp MI raised its stake in Sprout Social by 36.7% during the 4th quarter. Arcadia Investment Management Corp MI now owns 1,047 shares of the company’s stock valued at $64,000 after acquiring an additional 281 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Sprout Social by 14.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,500 shares of the company’s stock valued at $125,000 after acquiring an additional 323 shares during the last quarter. Finally, Fidelis Capital Partners LLC purchased a new stake in Sprout Social during the 1st quarter valued at approximately $27,000.

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.