Oppenheimer Has Lowered Expectations for Sprout Social (NASDAQ:SPT) Stock Price

Sprout Social (NASDAQ:SPT) had its price objective decreased by Oppenheimer from $40.00 to $38.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price objective indicates a potential upside of 18.75% from the company’s previous close.

A number of other brokerages also recently commented on SPT. Barclays dropped their price objective 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 target price on the stock. in a report on Thursday, August 22nd. Scotiabank began coverage on Sprout Social in a report on Monday, November 18th. They set a “sector perform” rating and a $28.00 price target for the company. Piper Sandler dropped their price objective on Sprout Social from $40.00 to $29.00 and set a “neutral” rating on the stock in a report on Monday, November 11th. Finally, Needham & Company LLC reissued a “buy” rating and set a $55.00 target price on shares of Sprout Social in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $45.46.

Sprout Social Trading Up 2.8 %

Shares of SPT stock opened at $32.00 on Tuesday. Sprout Social has a 1-year low of $25.05 and a 1-year high of $68.41. The firm has a market cap of $1.84 billion, a PE ratio of -26.67 and a beta of 1.03. The company has a 50-day moving average of $28.93 and a two-hundred day moving average of $31.54. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96.

Sprout Social (NASDAQ:SPT) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.06). Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. The firm had revenue of $102.64 million for the quarter, compared to analysts’ expectations of $102.04 million. On average, analysts predict that Sprout Social will post -0.98 EPS for the current year.

Insider Activity

In other Sprout Social news, CFO Preto Joseph Del sold 1,500 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $28.27, for a total transaction of $42,405.00. Following the transaction, the chief financial officer now owns 158,614 shares of the company’s stock, valued at $4,484,017.78. This represents a 0.94 % decrease in their position. The sale was disclosed in a document filed 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 on Monday, October 7th. The stock was sold at an average price of $28.25, for a total value of $474,600.00. Following the sale, the chief executive officer now owns 170,175 shares in the company, valued at $4,807,443.75. This trade represents a 8.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,765 shares of company stock worth $1,505,079 over the last ninety days. 10.97% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arizona State Retirement System lifted its holdings in shares of Sprout Social by 3.9% during the 2nd quarter. Arizona State Retirement System now owns 13,934 shares of the company’s stock valued at $497,000 after acquiring an additional 529 shares in the last quarter. Diversified Trust Co raised its position in Sprout Social by 3.8% in the third quarter. Diversified Trust Co now owns 15,770 shares of the company’s stock valued at $458,000 after purchasing an additional 571 shares during the period. Truist Financial Corp lifted its stake in shares of Sprout Social by 6.1% during the second quarter. Truist Financial Corp now owns 11,260 shares of the company’s stock worth $402,000 after purchasing an additional 646 shares in the last quarter. Ensign Peak Advisors Inc boosted its position in shares of Sprout Social by 3.9% in the second quarter. Ensign Peak Advisors Inc now owns 19,951 shares of the company’s stock worth $712,000 after buying an additional 750 shares during the period. Finally, Quarry LP grew its stake in shares of 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 buying an additional 751 shares in 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.