Sprout Social (NASDAQ:SPT) Price Target Lowered to $32.00 at Needham & Company LLC

Sprout Social (NASDAQ:SPT) had its price objective reduced by Needham & Company LLC from $55.00 to $32.00 in a report issued on Wednesday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other equities research analysts have also recently issued reports on the company. Scotiabank assumed coverage on Sprout Social in a report on Monday, November 18th. They set a “sector perform” rating and a $28.00 price objective for the company. Oppenheimer reduced their price objective on Sprout Social from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Tuesday, December 3rd. Piper Sandler reduced their price objective on Sprout Social from $29.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday. Jefferies Financial Group boosted their price objective on Sprout Social from $34.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, Barclays reduced their price objective on Sprout Social from $38.00 to $34.00 and set an “overweight” rating for the company in a report on Wednesday. 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $34.08.

Sprout Social Trading Up 3.1 %

Sprout Social stock opened at $28.09 on Wednesday. Sprout Social has a 52 week low of $25.05 and a 52 week high of $64.91. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $1.61 billion, a P/E ratio of -23.41 and a beta of 1.06. The stock has a 50-day simple moving average of $31.73 and a 200 day simple moving average of $30.54.

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

Insider Buying and Selling at Sprout Social

In related news, Director Karen Walker sold 5,000 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $30.26, for a total value of $151,300.00. Following the sale, the director now owns 30,665 shares of the company’s stock, valued at $927,922.90. The trade was a 14.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ryan Paul Barretto sold 13,465 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 546,343 shares in the company, valued at approximately $17,182,487.35. This represents a 2.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 120,265 shares of company stock worth $3,837,006 over the last three months. Corporate insiders own 10.97% of the company’s stock.

Institutional Trading of Sprout Social

A number of institutional investors have recently bought and sold shares of SPT. Quarry LP boosted its position in Sprout Social by 100.9% during 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 during the last quarter. US Bancorp DE boosted its position in Sprout Social by 2,392.6% during the fourth quarter. US Bancorp DE now owns 1,695 shares of the company’s stock valued at $52,000 after acquiring an additional 1,627 shares during the last quarter. KBC Group NV boosted its position in Sprout Social by 77.1% during the fourth quarter. KBC Group NV now owns 2,525 shares of the company’s stock valued at $78,000 after acquiring an additional 1,099 shares during the last quarter. Assetmark Inc. boosted its position in Sprout Social by 27.5% during the third quarter. Assetmark Inc. now owns 3,717 shares of the company’s stock valued at $108,000 after acquiring an additional 801 shares during the last quarter. Finally, Yarbrough Capital LLC bought a new stake in Sprout Social during the fourth quarter valued at $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.