Sprout Social (NASDAQ:SPT) Price Target Lowered to $40.00 at Oppenheimer

Sprout Social (NASDAQ:SPT) had its price objective trimmed by Oppenheimer from $43.00 to $40.00 in a research report released on Thursday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other analysts have also weighed in on SPT. Barclays decreased their target price on shares of Sprout Social from $48.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. KeyCorp lowered Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 price objective on the stock. in a research note on Thursday, August 22nd. Needham & Company LLC restated a “buy” rating and set a $55.00 target price on shares of Sprout Social in a research report on Friday, August 2nd. Robert W. Baird upped their price target on Sprout Social from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $46.00 price objective on shares of Sprout Social in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $48.00.

Sprout Social Stock Performance

SPT stock traded up $0.26 during trading on Thursday, reaching $27.59. 18,866 shares of the stock were exchanged, compared to its average volume of 754,264. The stock has a 50 day simple moving average of $29.23 and a 200-day simple moving average of $34.58. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $1.57 billion, a P/E ratio of -20.86 and a beta of 0.97. Sprout Social has a twelve month low of $25.05 and a twelve month high of $68.41.

Sprout Social (NASDAQ:SPT) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The business had revenue of $99.40 million for the quarter, compared to analysts’ expectations of $98.70 million. Sprout Social had a negative return on equity of 44.38% and a negative net margin of 19.60%. Sprout Social’s quarterly revenue was up 25.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.23) earnings per share. As a group, sell-side analysts anticipate that Sprout Social will post -0.9 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Justyn Russell Howard sold 20,000 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $28.23, for a total transaction of $564,600.00. Following the sale, the insider now directly owns 7,417 shares of the company’s stock, valued at $209,381.91. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Justyn Russell Howard sold 20,000 shares of the business’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $28.23, for a total transaction of $564,600.00. Following the completion of the sale, the insider now owns 7,417 shares in the company, valued at $209,381.91. 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 this link. Also, CEO Ryan Paul Barretto sold 16,800 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $28.25, for a total value of $474,600.00. Following the completion of the transaction, the chief executive officer now owns 170,175 shares in the company, valued at approximately $4,807,443.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 87,882 shares of company stock valued at $2,570,471. Insiders own 10.97% of the company’s stock.

Institutional Investors Weigh In On Sprout Social

Several institutional investors have recently modified their holdings of the business. Fidelis Capital Partners LLC acquired a new stake in Sprout Social during the 1st quarter worth $27,000. Quarry LP grew its stake in shares of Sprout Social by 2,346.9% during the second quarter. Quarry LP now owns 783 shares of the company’s stock worth $28,000 after purchasing an additional 751 shares during the period. EntryPoint Capital LLC acquired a new stake in shares of Sprout Social during the first quarter worth $37,000. Covestor Ltd increased its holdings 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. Finally, Bessemer Group Inc. acquired a new position in Sprout Social in the first quarter valued at about $61,000.

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.