Sprout Social (NASDAQ:SPT) Price Target Lowered to $29.00 at Piper Sandler

Sprout Social (NASDAQ:SPT) had its price objective lowered by Piper Sandler from $40.00 to $29.00 in a research note published on Monday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

A number of other research firms have also weighed in on SPT. KeyCorp lowered shares of Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 target price for the company. in a report on Thursday, August 22nd. Barclays cut their target price on shares of Sprout Social from $48.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Oppenheimer lowered their price target on Sprout Social from $43.00 to $40.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Robert W. Baird raised their price target on Sprout Social from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Needham & Company LLC restated a “buy” rating and issued a $55.00 price target on shares of Sprout Social in a research report on Friday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Sprout Social has a consensus rating of “Hold” and an average target price of $47.08.

Sprout Social Trading Up 7.1 %

Shares of SPT opened at $28.60 on Monday. The company has a 50 day simple moving average of $28.08 and a two-hundred day simple moving average of $32.09. Sprout Social has a 1 year low of $25.05 and a 1 year high of $68.41. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market cap of $1.63 billion, a P/E ratio of -23.83 and a beta of 0.99.

Sprout Social (NASDAQ:SPT) last posted its earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). Sprout Social had a negative net margin of 17.24% and a negative return on equity of 41.65%. The business had revenue of $102.64 million during the quarter, compared to analysts’ expectations of $102.04 million. On average, equities analysts expect that Sprout Social will post -0.9 earnings per share for the current fiscal year.

Insider Transactions at Sprout Social

In related news, CEO Ryan Paul Barretto sold 16,800 shares of Sprout Social stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $28.25, for a total value of $474,600.00. Following the completion of the sale, the chief executive officer now directly owns 170,175 shares in the company, valued at $4,807,443.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Ryan Paul Barretto sold 16,800 shares of Sprout Social stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $28.25, for a total value of $474,600.00. Following the completion of the sale, the chief executive officer now directly owns 170,175 shares in the company, valued at $4,807,443.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Aaron Edward Frederick Rankin sold 1,181 shares of Sprout Social stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $29.23, for a total value of $34,520.63. Following the completion of the sale, the director now owns 42,122 shares of the company’s stock, valued at $1,231,226.06. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 62,882 shares of company stock worth $1,801,351. 10.97% of the stock is currently owned by insiders.

Institutional Trading of Sprout Social

Institutional investors and hedge funds have recently made changes to their positions in the company. EntryPoint Capital LLC purchased a new position in Sprout Social in the first quarter valued at about $37,000. Covestor Ltd grew its stake in Sprout Social by 35,450.0% in the first quarter. Covestor Ltd now owns 711 shares of the company’s stock valued at $42,000 after purchasing an additional 709 shares during the last quarter. Quarry LP grew its stake in Sprout Social by 2,346.9% in the second quarter. Quarry LP now owns 783 shares of the company’s stock valued at $28,000 after purchasing an additional 751 shares during the last quarter. Bessemer Group Inc. purchased a new position in Sprout Social in the first quarter valued at about $61,000. Finally, Lazard Asset Management LLC grew its stake in Sprout Social by 49.0% in the first quarter. Lazard Asset Management LLC now owns 1,863 shares of the company’s stock valued at $111,000 after purchasing an additional 613 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.