Piper Sandler Issues Pessimistic Forecast for Sprout Social (NASDAQ:SPT) Stock Price

Sprout Social (NASDAQ:SPT) had its price objective reduced by equities research analysts at Piper Sandler from $29.00 to $27.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s price target would suggest a potential downside of 0.92% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Scotiabank assumed coverage on shares of Sprout Social in a research report on Monday, November 18th. They set a “sector perform” rating and a $28.00 price objective on the stock. Oppenheimer cut their price target on shares of Sprout Social from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Tuesday, December 3rd. Jefferies Financial Group raised their price objective on shares of Sprout Social from $34.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 target price on shares of Sprout Social in a research note on Wednesday, January 15th. Finally, Barclays decreased their price target on Sprout Social from $38.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $39.08.

Sprout Social Stock Down 2.4 %

Shares of NASDAQ SPT opened at $27.25 on Wednesday. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of -22.71 and a beta of 1.06. Sprout Social has a 12-month low of $25.05 and a 12-month high of $65.32. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19. The firm’s 50-day moving average price is $31.83 and its 200-day moving average price is $30.55.

Sprout Social (NASDAQ:SPT) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.35). Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. On average, equities research analysts anticipate that Sprout Social will post -0.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Ryan Paul Barretto sold 13,465 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $31.45, for a total value of $423,474.25. Following the completion of the sale, the chief executive officer now owns 546,343 shares in the company, valued at approximately $17,182,487.35. The trade was a 2.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Karen Walker sold 5,000 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were 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. This represents a 14.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 120,265 shares of company stock worth $3,837,006. 10.97% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP lifted its stake in shares of Sprout Social by 100.9% during the 3rd quarter. Quarry LP now owns 1,573 shares of the company’s stock worth $46,000 after purchasing an additional 790 shares during the last quarter. US Bancorp DE lifted its position in shares of Sprout Social by 2,392.6% during the fourth quarter. US Bancorp DE now owns 1,695 shares of the company’s stock valued at $52,000 after buying an additional 1,627 shares during the last quarter. KBC Group NV lifted its position in shares of Sprout Social by 77.1% during the fourth quarter. KBC Group NV now owns 2,525 shares of the company’s stock valued at $78,000 after buying an additional 1,099 shares during the last quarter. Assetmark Inc. boosted its holdings in shares of Sprout Social by 27.5% in the 3rd quarter. Assetmark Inc. now owns 3,717 shares of the company’s stock valued at $108,000 after buying an additional 801 shares in the last quarter. Finally, Yarbrough Capital LLC purchased a new position in shares of Sprout Social in the 4th quarter worth approximately $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.