Piper Sandler Lowers Sprout Social (NASDAQ:SPT) Price Target to $27.00

Sprout Social (NASDAQ:SPT) had its price objective decreased by equities research analysts at Piper Sandler from $29.00 to $27.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s target price suggests a potential downside of 1.28% from the company’s current price.

SPT has been the subject of a number of other research reports. Morgan Stanley lifted their price target on shares of Sprout Social from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Oppenheimer cut their target price on shares of Sprout Social from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 3rd. Jefferies Financial Group increased their price target on shares of Sprout Social from $34.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Scotiabank initiated coverage on Sprout Social in a report on Monday, November 18th. They issued a “sector perform” rating and a $28.00 price objective for the company. Finally, Barclays reduced their target price on Sprout Social from $38.00 to $34.00 and set an “overweight” rating on the stock in a report on Wednesday. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $33.85.

Sprout Social Price Performance

Shares of SPT stock opened at $27.35 on Wednesday. The firm has a fifty day simple moving average of $31.63 and a 200-day simple moving average of $30.52. The company has a market capitalization of $1.57 billion, a PE ratio of -22.79 and a beta of 1.06. Sprout Social has a twelve month low of $25.05 and a twelve month high of $64.91. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19.

Sprout Social (NASDAQ:SPT) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.35). Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. The firm had revenue of $107.09 million during the quarter, compared to analysts’ expectations of $106.74 million. Equities research analysts anticipate that Sprout Social will post -0.99 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Ryan Paul Barretto sold 13,465 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $31.45, for a total transaction of $423,474.25. Following the completion of the transaction, the chief executive officer now directly owns 546,343 shares in the company, valued at approximately $17,182,487.35. The trade was a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Justyn Russell Howard sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $31.67, for a total value of $1,266,800.00. Following the completion of the sale, the insider now owns 27,136 shares in the company, valued at approximately $859,397.12. This represents a 59.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 120,265 shares of company stock valued at $3,837,006. 10.97% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sprout Social

A number of hedge funds and other institutional investors have recently modified their holdings of SPT. Stifel Financial Corp grew its position in Sprout Social by 0.4% in the 4th quarter. Stifel Financial Corp now owns 83,141 shares of the company’s stock valued at $2,553,000 after buying an additional 351 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Sprout Social by 1.8% in the fourth quarter. Invesco Ltd. now owns 22,861 shares of the company’s stock valued at $702,000 after acquiring an additional 397 shares in the last quarter. Quarry LP boosted its holdings in shares of Sprout Social by 100.9% in the third quarter. Quarry LP now owns 1,573 shares of the company’s stock valued at $46,000 after acquiring an additional 790 shares in the last quarter. Assetmark Inc. raised its holdings in Sprout Social by 27.5% during the third quarter. Assetmark Inc. now owns 3,717 shares of the company’s stock worth $108,000 after purchasing an additional 801 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in Sprout Social by 5.4% in the third quarter. Franklin Resources Inc. now owns 20,256 shares of the company’s stock worth $576,000 after purchasing an additional 1,034 shares during the period.

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.