Barclays Issues Pessimistic Forecast for Sprout Social (NASDAQ:SPT) Stock Price

Sprout Social (NASDAQ:SPT) had its price objective decreased by stock analysts at Barclays from $34.00 to $26.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 39.15% from the company’s current price.

A number of other analysts have also recently commented on the company. Piper Sandler lowered their price target on Sprout Social from $29.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Needham & Company LLC decreased their target price on Sprout Social from $55.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Jefferies Financial Group increased their target price on Sprout Social from $34.00 to $42.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Scotiabank lowered their price target on shares of Sprout Social from $28.00 to $25.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. Finally, Morgan Stanley dropped their target price on Sprout Social from $30.00 to $22.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $32.15.

Sprout Social Price Performance

Shares of SPT stock traded down $0.96 on Monday, reaching $18.69. The company’s stock had a trading volume of 81,354 shares, compared to its average volume of 749,234. 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 has a 1 year low of $18.55 and a 1 year high of $53.96. The stock’s fifty day simple moving average is $24.42 and its 200-day simple moving average is $28.64. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of -15.58 and a beta of 1.11.

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 company had revenue of $107.09 million during the quarter, compared to the consensus estimate of $106.74 million. Analysts forecast that Sprout Social will post -0.99 earnings per share for the current fiscal year.

Insider Activity at Sprout Social

In other Sprout Social news, insider Justyn Russell Howard sold 40,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 7,417 shares in the company, valued at approximately $241,720.03. This trade represents a 84.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Karen Walker sold 5,000 shares of Sprout Social stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $19.42, for a total transaction of $97,100.00. Following the sale, the director now owns 25,665 shares in the company, valued at approximately $498,414.30. This trade represents a 16.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 125,446 shares of company stock worth $3,115,839. 10.97% of the stock is owned by insiders.

Hedge Funds Weigh In On Sprout Social

Large investors have recently modified their holdings of the stock. Harbor Capital Advisors Inc. lifted its position in Sprout Social by 31.0% during the 1st quarter. Harbor Capital Advisors Inc. now owns 12,499 shares of the company’s stock valued at $275,000 after purchasing an additional 2,955 shares during the period. Rhumbline Advisers boosted its stake in Sprout Social by 9.6% in the first quarter. Rhumbline Advisers now owns 76,976 shares of the company’s stock valued at $1,693,000 after acquiring an additional 6,774 shares during the last quarter. GAMMA Investing LLC grew its holdings in Sprout Social by 19,500.0% during the 1st quarter. GAMMA Investing LLC now owns 9,016 shares of the company’s stock worth $198,000 after acquiring an additional 8,970 shares during the period. Versant Capital Management Inc raised its position in shares of Sprout Social by 1,319.4% during the 1st quarter. Versant Capital Management Inc now owns 1,462 shares of the company’s stock valued at $32,000 after acquiring an additional 1,359 shares during the last quarter. Finally, Jefferies Financial Group Inc. acquired a new position in shares of Sprout Social in the 4th quarter valued at $4,296,000.

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.