Sprout Social (NASDAQ:SPT) Price Target Cut to $38.00 by Analysts at Oppenheimer

Sprout Social (NASDAQ:SPT) had its target price cut by Oppenheimer from $40.00 to $38.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities analysts have also recently weighed in on the stock. Barclays reduced their price objective on shares of Sprout Social from $48.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. KeyCorp cut Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 price objective on the stock. in a report on Thursday, August 22nd. Piper Sandler decreased their target price 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. Scotiabank initiated coverage on Sprout Social in a research report on Monday, November 18th. They set a “sector perform” rating and a $28.00 price target for the company. Finally, Needham & Company LLC restated a “buy” rating and issued a $55.00 price objective on shares of Sprout Social in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Sprout Social currently has a consensus rating of “Hold” and a consensus price target of $45.46.

Sprout Social Trading Down 1.0 %

SPT stock opened at $31.12 on Tuesday. Sprout Social has a 52-week low of $25.05 and a 52-week high of $68.41. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. The firm has a market cap of $1.79 billion, a P/E ratio of -25.93 and a beta of 1.03. The company’s 50-day simple moving average is $28.88 and its 200-day simple moving average is $31.53.

Sprout Social (NASDAQ:SPT) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.06). The business had revenue of $102.64 million during the quarter, compared to analyst estimates of $102.04 million. Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. As a group, equities analysts forecast that Sprout Social will post -0.98 EPS for the current fiscal year.

Insider Activity at Sprout Social

In other news, CEO Ryan Paul Barretto sold 16,800 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $28.25, for a total value of $474,600.00. Following the transaction, the chief executive officer now owns 170,175 shares of the company’s stock, valued at $4,807,443.75. This represents a 8.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Preto Joseph Del sold 1,500 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $28.27, for a total value of $42,405.00. Following the transaction, the chief financial officer now owns 158,614 shares of the company’s stock, valued at approximately $4,484,017.78. This represents a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,300 shares of company stock valued at $1,081,605. 10.97% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Harbor Capital Advisors Inc. lifted its holdings in shares of Sprout Social by 148.9% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 15,709 shares of the company’s stock worth $560,000 after acquiring an additional 9,398 shares during the last quarter. Legal Advantage Investments Inc. grew its stake in shares of Sprout Social by 52.7% in the second quarter. Legal Advantage Investments Inc. now owns 28,975 shares of the company’s stock valued at $1,034,000 after buying an additional 10,000 shares in the last quarter. Diversified Trust Co raised its holdings in shares of Sprout Social by 7.0% in the 2nd quarter. Diversified Trust Co now owns 15,199 shares of the company’s stock valued at $542,000 after buying an additional 992 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Sprout Social by 98.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 664,970 shares of the company’s stock worth $23,726,000 after acquiring an additional 330,309 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Sprout Social by 28.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,463 shares of the company’s stock valued at $445,000 after acquiring an additional 2,729 shares during the period.

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.