Morgan Stanley Issues Pessimistic Forecast for Sprout Social (NASDAQ:SPT) Stock Price

Sprout Social (NASDAQ:SPT) had its price target dropped by equities researchers at Morgan Stanley from $37.00 to $30.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 9.77% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Piper Sandler cut their price target on shares of Sprout Social from $29.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday. Needham & Company LLC dropped their price objective on shares of Sprout Social from $55.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday. Stifel Nicolaus cut their price target on Sprout Social from $45.00 to $34.00 and set a “buy” rating for the company in a report on Wednesday. Scotiabank began coverage on Sprout Social in a research report on Monday, November 18th. They set a “sector perform” rating and a $28.00 price objective for the company. Finally, Barclays dropped their price target on shares of Sprout Social from $38.00 to $34.00 and set an “overweight” rating on the stock in a research report on Wednesday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $36.38.

Sprout Social Stock Performance

Sprout Social stock traded up $0.08 during trading hours on Wednesday, reaching $27.33. 366,854 shares of the stock were exchanged, compared to its average volume of 546,552. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96. Sprout Social has a 52-week low of $25.05 and a 52-week high of $64.91. The stock has a market cap of $1.57 billion, a P/E ratio of -22.74 and a beta of 1.06. The firm’s 50 day moving average is $31.83 and its 200 day moving average is $30.55.

Sprout Social (NASDAQ:SPT) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.35). The firm had revenue of $107.09 million during the quarter, compared to analyst estimates of $106.74 million. Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. Analysts predict that Sprout Social will post -0.99 EPS for the current fiscal year.

Insider Activity at Sprout Social

In other news, Director Karen Walker sold 5,000 shares of Sprout Social stock in a transaction on Monday, January 13th. The stock was sold at an average price of $30.26, for a total transaction of $151,300.00. Following the transaction, the director now owns 30,665 shares in the company, valued at approximately $927,922.90. The trade was a 14.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Justyn Russell Howard sold 40,000 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $32.59, for a total value of $1,303,600.00. Following the sale, the insider now directly owns 7,417 shares of the company’s stock, valued at $241,720.03. This trade represents a 84.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 120,265 shares of company stock worth $3,837,006. 10.97% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SPT. Quarry LP raised its position in shares of Sprout Social by 100.9% during the third quarter. Quarry LP now owns 1,573 shares of the company’s stock valued at $46,000 after buying an additional 790 shares during the last quarter. US Bancorp DE grew its position in Sprout Social by 2,392.6% during the 4th quarter. US Bancorp DE now owns 1,695 shares of the company’s stock worth $52,000 after acquiring an additional 1,627 shares during the last quarter. KBC Group NV increased its holdings in Sprout Social by 77.1% during the 4th quarter. KBC Group NV now owns 2,525 shares of the company’s stock valued at $78,000 after purchasing an additional 1,099 shares in the last quarter. Assetmark Inc. boosted its stake in Sprout Social by 27.5% in the third quarter. Assetmark Inc. now owns 3,717 shares of the company’s stock worth $108,000 after purchasing an additional 801 shares in the last quarter. Finally, Yarbrough Capital LLC bought a new stake in shares of Sprout Social during the fourth quarter worth $206,000.

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.