Sprout Social (NASDAQ:SPT) Given New $46.00 Price Target at Cantor Fitzgerald

Sprout Social (NASDAQ:SPT) had its price objective lowered by Cantor Fitzgerald from $74.00 to $46.00 in a research note released on Friday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research firms have also recently weighed in on SPT. Morgan Stanley decreased their price objective on Sprout Social from $73.00 to $65.00 and set an equal weight rating for the company in a research report on Wednesday, April 17th. Piper Sandler downgraded Sprout Social from an overweight rating to a neutral rating and decreased their price target for the company from $66.00 to $40.00 in a research note on Friday. BTIG Research downgraded Sprout Social from a buy rating to a neutral rating in a research note on Friday. Oppenheimer cut their price target on shares of Sprout Social from $76.00 to $43.00 and set an outperform rating for the company in a report on Friday. Finally, The Goldman Sachs Group downgraded shares of Sprout Social from a buy rating to a neutral rating and cut their price target for the company from $80.00 to $44.00 in a report on Friday. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Sprout Social currently has an average rating of Moderate Buy and a consensus price target of $57.07.

Sprout Social Stock Down 40.1 %

SPT stock traded down $19.33 during midday trading on Friday, hitting $28.82. The company’s stock had a trading volume of 13,470,229 shares, compared to its average volume of 679,800. Sprout Social has a 52-week low of $27.85 and a 52-week high of $68.41. The firm has a 50-day simple moving average of $55.98 and a 200-day simple moving average of $56.71. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $1.62 billion, a P/E ratio of -23.06 and a beta of 1.09.

Sprout Social (NASDAQ:SPT) last posted its earnings results on Tuesday, February 20th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). The company had revenue of $93.58 million during the quarter, compared to analysts’ expectations of $90.76 million. Sprout Social had a negative net margin of 19.64% and a negative return on equity of 42.60%. As a group, equities analysts forecast that Sprout Social will post -1.17 EPS for the current year.

Insiders Place Their Bets

In other news, President Ryan Paul Barretto sold 5,600 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $59.63, for a total transaction of $333,928.00. Following the completion of the transaction, the president now owns 209,375 shares of the company’s stock, valued at $12,485,031.25. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Preto Joseph Del sold 1,500 shares of Sprout Social stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $59.71, for a total transaction of $89,565.00. Following the sale, the chief financial officer now directly owns 127,322 shares in the company, valued at $7,602,396.62. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Ryan Paul Barretto sold 5,600 shares of Sprout Social stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $59.63, for a total transaction of $333,928.00. Following the sale, the president now owns 209,375 shares in the company, valued at $12,485,031.25. The disclosure for this sale can be found here. Insiders sold a total of 140,200 shares of company stock valued at $8,171,958 over the last 90 days. 10.97% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sprout Social

Hedge funds and other institutional investors have recently modified their holdings of the stock. Knights of Columbus Asset Advisors LLC raised its stake in shares of Sprout Social by 162.5% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 74,357 shares of the company’s stock valued at $4,568,000 after purchasing an additional 46,033 shares in the last quarter. Natixis Advisors L.P. raised its stake in shares of Sprout Social by 43.7% during the third quarter. Natixis Advisors L.P. now owns 61,300 shares of the company’s stock valued at $3,058,000 after purchasing an additional 18,644 shares in the last quarter. Baillie Gifford & Co. raised its stake in shares of Sprout Social by 244.1% during the third quarter. Baillie Gifford & Co. now owns 4,404,402 shares of the company’s stock valued at $219,692,000 after purchasing an additional 3,124,376 shares in the last quarter. Corton Capital Inc. raised its stake in shares of Sprout Social by 16.6% during the third quarter. Corton Capital Inc. now owns 6,899 shares of the company’s stock valued at $344,000 after purchasing an additional 983 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Sprout Social by 3.9% during the third quarter. Vanguard Group Inc. now owns 5,084,389 shares of the company’s stock valued at $253,609,000 after purchasing an additional 191,471 shares in the last quarter.

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.