Sprout Social (NASDAQ:SPT) Price Target Lowered to $38.00 at Robert W. Baird

Sprout Social (NASDAQ:SPT) had its target price cut by Robert W. Baird from $45.00 to $38.00 in a report released on Thursday, Benzinga reports. They currently have a neutral rating on the stock.

SPT has been the subject of a number of other reports. BTIG Research downgraded Sprout Social from a buy rating to a neutral rating in a research note on Friday, May 3rd. Canaccord Genuity Group reduced their price objective on Sprout Social from $70.00 to $50.00 and set a buy rating for the company in a research report on Friday, May 3rd. Needham & Company LLC reiterated a buy rating and set a $55.00 price objective on shares of Sprout Social in a research report on Friday, June 7th. KeyCorp downgraded Sprout Social from an overweight rating to a sector weight rating in a research report on Friday, May 3rd. Finally, Piper Sandler downgraded Sprout Social from an overweight rating to a neutral rating and cut their target price for the stock from $66.00 to $40.00 in a research report on Friday, May 3rd. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $56.57.

Sprout Social Stock Up 4.7 %

Shares of Sprout Social stock opened at $35.68 on Thursday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average price of $35.41 and a 200 day moving average price of $51.43. Sprout Social has a fifty-two week low of $25.68 and a fifty-two week high of $68.41. The firm has a market cap of $2.02 billion, a P/E ratio of -28.54 and a beta of 0.99.

Sprout Social (NASDAQ:SPT) last issued its earnings results on Thursday, May 2nd. The company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.10. Sprout Social had a negative return on equity of 42.51% and a negative net margin of 19.64%. The company had revenue of $96.78 million during the quarter, compared to the consensus estimate of $97.29 million. On average, sell-side analysts forecast that Sprout Social will post -0.84 earnings per share for the current fiscal year.

Insider Buying and Selling at Sprout Social

In other Sprout Social news, President Ryan Paul Barretto sold 5,600 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $56.95, for a total transaction of $318,920.00. Following the sale, the president now directly owns 198,175 shares of the company’s stock, valued at approximately $11,286,066.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Aaron Edward Frederick Rankin sold 22,000 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $56.95, for a total transaction of $1,252,900.00. Following the transaction, the director now directly owns 44,487 shares in the company, valued at approximately $2,533,534.65. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President Ryan Paul Barretto sold 5,600 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $56.95, for a total transaction of $318,920.00. Following the transaction, the president now owns 198,175 shares in the company, valued at $11,286,066.25. The disclosure for this sale can be found here. Insiders have sold a total of 107,370 shares of company stock valued at $4,583,558 in the last three months. 10.97% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sprout Social

A number of large investors have recently bought and sold shares of SPT. Wellington Management Group LLP boosted its holdings in Sprout Social by 27.5% during the third quarter. Wellington Management Group LLP now owns 3,953,155 shares of the company’s stock valued at $197,183,000 after acquiring an additional 853,127 shares during the period. Fred Alger Management LLC boosted its holdings in Sprout Social by 334.1% during the third quarter. Fred Alger Management LLC now owns 667,462 shares of the company’s stock valued at $33,293,000 after acquiring an additional 513,687 shares during the period. Jericho Capital Asset Management L.P. bought a new stake in Sprout Social during the first quarter valued at about $22,332,000. Jennison Associates LLC boosted its holdings in Sprout Social by 17.0% during the first quarter. Jennison Associates LLC now owns 2,137,422 shares of the company’s stock valued at $127,625,000 after acquiring an additional 311,146 shares during the period. Finally, Norges Bank bought a new stake in Sprout Social during the fourth quarter valued at about $14,085,000.

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.