Sprout Social (NASDAQ:SPT) Price Target Cut to $34.00 by Analysts at Barclays

Sprout Social (NASDAQ:SPT) had its price objective reduced by Barclays from $38.00 to $34.00 in a report issued on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms have also recently weighed in on SPT. Scotiabank assumed coverage on shares of Sprout Social in a report on Monday, November 18th. They issued a “sector perform” rating and a $28.00 price target on the stock. Piper Sandler dropped their target price on shares of Sprout Social from $40.00 to $29.00 and set a “neutral” rating on the stock in a report on Monday, November 11th. Needham & Company LLC restated a “buy” rating and set a $55.00 target price on shares of Sprout Social in a report on Wednesday, January 15th. Morgan Stanley boosted their target price on shares of Sprout Social from $36.00 to $37.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Finally, Jefferies Financial Group boosted their target price on shares of Sprout Social from $34.00 to $42.00 and gave the company a “buy” rating in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Sprout Social presently has an average rating of “Hold” and a consensus target price of $34.08.

Sprout Social Stock Performance

NASDAQ:SPT opened at $28.09 on Wednesday. The stock has a market cap of $1.61 billion, a P/E ratio of -23.41 and a beta of 1.06. The firm’s fifty day simple moving average is $31.73 and its 200 day simple moving average is $30.54. Sprout Social has a twelve month low of $25.05 and a twelve month high of $64.91. 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 released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.35). The company had revenue of $107.09 million during the quarter, compared to the consensus estimate of $106.74 million. Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. As a group, research analysts predict that Sprout Social will post -0.99 EPS for the current year.

Insider Buying and Selling

In other Sprout Social news, insider Justyn Russell Howard sold 40,000 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $32.59, for a total value of $1,303,600.00. Following the completion of the transaction, the insider now owns 7,417 shares of the company’s stock, valued at approximately $241,720.03. The trade was a 84.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Paul Barretto sold 13,465 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $31.45, for a total value of $423,474.25. Following the completion of the transaction, the chief executive officer now directly owns 546,343 shares of the company’s stock, valued at approximately $17,182,487.35. This trade represents a 2.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 120,265 shares of company stock worth $3,837,006 in the last quarter. Corporate insiders own 10.97% of the company’s stock.

Hedge Funds Weigh In On Sprout Social

A number of hedge funds have recently bought and sold shares of SPT. Quarry LP raised its position in Sprout Social by 100.9% in the 3rd quarter. Quarry LP now owns 1,573 shares of the company’s stock worth $46,000 after buying an additional 790 shares during the last quarter. US Bancorp DE raised its position in Sprout Social by 2,392.6% in the 4th quarter. US Bancorp DE now owns 1,695 shares of the company’s stock worth $52,000 after buying an additional 1,627 shares during the last quarter. KBC Group NV increased its position in shares of Sprout Social by 77.1% during the 4th quarter. KBC Group NV now owns 2,525 shares of the company’s stock valued at $78,000 after purchasing an additional 1,099 shares during the last quarter. Assetmark Inc. increased its position in shares of Sprout Social by 27.5% during the 3rd quarter. Assetmark Inc. now owns 3,717 shares of the company’s stock valued at $108,000 after purchasing an additional 801 shares during the last quarter. Finally, Yarbrough Capital LLC purchased a new stake in shares of Sprout Social during the 4th quarter valued at about $206,000.

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.