Barclays Has Lowered Expectations for Sprout Social (NASDAQ:SPT) Stock Price

Sprout Social (NASDAQ:SPT) had its price target decreased by analysts at Barclays from $38.00 to $34.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target points to a potential upside of 24.31% from the stock’s current price.

Several other research analysts also recently commented on SPT. Morgan Stanley lifted their target price on shares of Sprout Social from $36.00 to $37.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Needham & Company LLC reiterated a “buy” rating and issued a $55.00 price objective on shares of Sprout Social in a research note on Wednesday, January 15th. Scotiabank assumed coverage on Sprout Social in a research note on Monday, November 18th. They set a “sector perform” rating and a $28.00 target price for the company. Piper Sandler dropped their price target on Sprout Social from $40.00 to $29.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th. Finally, Oppenheimer reduced their price objective on Sprout Social from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Tuesday, December 3rd. One research 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $33.85.

Sprout Social Stock Performance

SPT opened at $27.35 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market cap of $1.57 billion, a PE ratio of -22.79 and a beta of 1.06. The stock has a 50-day moving average of $31.63 and a 200-day moving average of $30.52. Sprout Social has a 52-week low of $25.05 and a 52-week high of $64.91.

Sprout Social (NASDAQ:SPT) last announced its earnings results on Tuesday, February 25th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.35). Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. The company had revenue of $107.09 million for the quarter, compared to the consensus estimate of $106.74 million. As a group, equities research analysts forecast that Sprout Social will post -0.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Sprout Social

In other news, insider Justyn Russell Howard sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $31.67, for a total value of $1,266,800.00. Following the sale, the insider now directly owns 27,136 shares in the company, valued at approximately $859,397.12. This represents a 59.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Ryan Paul Barretto sold 13,465 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $31.45, for a total value of $423,474.25. Following the completion of the transaction, the chief executive officer now directly owns 546,343 shares of the company’s stock, valued at approximately $17,182,487.35. The trade was a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 120,265 shares of company stock valued at $3,837,006 in the last 90 days. 10.97% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sprout Social

Several institutional investors and hedge funds have recently made changes to their positions in the company. ArrowMark Colorado Holdings LLC increased its position in shares of Sprout Social by 380.7% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,772,219 shares of the company’s stock worth $54,425,000 after purchasing an additional 1,403,549 shares in the last quarter. Wellington Management Group LLP grew its stake in Sprout Social by 16.0% during the third quarter. Wellington Management Group LLP now owns 3,762,443 shares of the company’s stock worth $109,374,000 after buying an additional 519,406 shares during the last quarter. Norges Bank acquired a new stake in shares of Sprout Social during the fourth quarter worth approximately $13,422,000. Dorsey Asset Management LLC raised its stake in shares of Sprout Social by 16.7% in the fourth quarter. Dorsey Asset Management LLC now owns 2,306,149 shares of the company’s stock valued at $70,822,000 after acquiring an additional 330,155 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Sprout Social by 324.0% in the third quarter. JPMorgan Chase & Co. now owns 402,947 shares of the company’s stock valued at $11,714,000 after acquiring an additional 307,906 shares during 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.