Sprout Social (NASDAQ:SPT) Price Target Lowered to $34.00 at Stifel Nicolaus

Sprout Social (NASDAQ:SPT) had its price objective decreased by Stifel Nicolaus from $45.00 to $34.00 in a report issued on Wednesday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

A number of other research firms also recently commented on SPT. Needham & Company LLC dropped their price target on Sprout Social from $55.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday. Scotiabank began coverage on shares of Sprout Social in a research report on Monday, November 18th. They issued a “sector perform” rating and a $28.00 target price for the company. Oppenheimer cut their price target on shares of Sprout Social from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Tuesday, December 3rd. Barclays decreased their price objective on shares of Sprout Social from $38.00 to $34.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Jefferies Financial Group upped their target price on Sprout Social from $34.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $34.08.

Sprout Social Stock Performance

Shares of NASDAQ:SPT opened at $28.09 on Wednesday. Sprout Social has a 12-month low of $25.05 and a 12-month high of $64.91. The company’s 50 day moving average price is $31.73 and its two-hundred day moving average price is $30.54. The firm has a market cap of $1.61 billion, a PE ratio of -23.41 and a beta of 1.06. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19.

Sprout Social (NASDAQ:SPT) last issued its quarterly 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). The company had revenue of $107.09 million for the quarter, compared to analyst estimates of $106.74 million. Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. Equities research analysts predict that Sprout Social will post -0.99 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Justyn Russell Howard sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $31.67, for a total value of $1,266,800.00. Following the completion of the transaction, the insider now owns 27,136 shares in the company, valued at $859,397.12. This trade represents a 59.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Karen Walker sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $34.24, for a total transaction of $171,200.00. Following the sale, the director now directly owns 35,665 shares in the company, valued at $1,221,169.60. The trade was a 12.30 % 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 worth $3,837,006 in the last 90 days. Insiders own 10.97% of the company’s stock.

Hedge Funds Weigh In On Sprout Social

Several large investors have recently modified their holdings of the business. Woodline Partners LP bought a new stake in shares of Sprout Social in the fourth quarter worth $233,000. Two Sigma Advisers LP grew its position in shares of Sprout Social by 96.4% in the 4th quarter. Two Sigma Advisers LP now owns 110,600 shares of the company’s stock valued at $3,397,000 after buying an additional 54,300 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Sprout Social by 49.9% in the fourth quarter. ProShare Advisors LLC now owns 14,459 shares of the company’s stock valued at $444,000 after buying an additional 4,811 shares during the period. Nuveen Asset Management LLC increased its stake in shares of Sprout Social by 110.7% in the fourth quarter. Nuveen Asset Management LLC now owns 454,162 shares of the company’s stock valued at $13,947,000 after buying an additional 238,650 shares during the period. Finally, Lazard Asset Management LLC raised its position in shares of Sprout Social by 44.3% during the fourth quarter. Lazard Asset Management LLC now owns 62,176 shares of the company’s stock worth $1,909,000 after acquiring an additional 19,098 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.