Sprout Social (NASDAQ:SPT) PT Lowered to $40.00

Sprout Social (NASDAQ:SPT) had its price objective decreased by equities researchers at Oppenheimer from $43.00 to $40.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s target price suggests a potential upside of 49.20% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. Robert W. Baird increased their target price on Sprout Social from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Needham & Company LLC reiterated a “buy” rating and set a $55.00 target price on shares of Sprout Social in a research note on Friday, August 2nd. Barclays reduced their price target on shares of Sprout Social from $48.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. KeyCorp downgraded shares of Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 price objective for the company. in a research report on Thursday, August 22nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $46.00 target price on shares of Sprout Social in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Sprout Social presently has an average rating of “Hold” and an average price target of $48.00.

Sprout Social Stock Performance

Sprout Social stock opened at $26.81 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.26. The stock has a 50 day moving average of $29.10 and a 200-day moving average of $34.37. The stock has a market cap of $1.52 billion, a P/E ratio of -21.45 and a beta of 0.97. Sprout Social has a 52 week low of $25.05 and a 52 week high of $68.41.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01. The company had revenue of $99.40 million during the quarter, compared to analyst estimates of $98.70 million. Sprout Social had a negative net margin of 19.60% and a negative return on equity of 44.38%. The firm’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same period last year, the business earned ($0.23) EPS. On average, analysts expect that Sprout Social will post -0.9 EPS for the current fiscal year.

Insider Activity at Sprout Social

In other Sprout Social news, Director Aaron Edward Frederick Rankin sold 1,181 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $29.23, for a total transaction of $34,520.63. Following the transaction, the director now owns 42,122 shares of the company’s stock, valued at approximately $1,231,226.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Aaron Edward Frederick Rankin sold 1,181 shares of Sprout Social stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $29.23, for a total transaction of $34,520.63. Following the transaction, the director now directly owns 42,122 shares in the company, valued at approximately $1,231,226.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Justyn Russell Howard sold 20,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $30.68, for a total value of $613,600.00. Following the completion of the sale, the chief executive officer now owns 310,812 shares of the company’s stock, valued at approximately $9,535,712.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 87,882 shares of company stock worth $2,570,471 over the last ninety days. 10.97% of the stock is currently owned by corporate insiders.

Institutional Trading of Sprout Social

Hedge funds and other institutional investors have recently made changes to their positions in the business. Fidelis Capital Partners LLC purchased a new stake in shares of Sprout Social during the first quarter valued at $27,000. EntryPoint Capital LLC purchased a new position in shares of Sprout Social in the first quarter worth approximately $37,000. Covestor Ltd raised its holdings in shares of Sprout Social by 35,450.0% during the first quarter. Covestor Ltd now owns 711 shares of the company’s stock valued at $42,000 after acquiring an additional 709 shares during the period. Quarry LP boosted its stake in Sprout Social by 2,346.9% in the 2nd quarter. Quarry LP now owns 783 shares of the company’s stock worth $28,000 after purchasing an additional 751 shares during the period. Finally, Bessemer Group Inc. purchased a new position in Sprout Social during the 1st quarter worth approximately $61,000.

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.