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

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

A number of other brokerages have also weighed in on SPT. Scotiabank began coverage on shares of Sprout Social in a research report on Monday, November 18th. They set a “sector perform” rating and a $28.00 target price for the company. Oppenheimer cut their target price on shares of Sprout Social from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Tuesday, December 3rd. Jefferies Financial Group increased their target price 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. Morgan Stanley increased their target price on shares of Sprout Social from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Finally, Needham & Company LLC restated a “buy” rating and issued a $55.00 price objective on shares of Sprout Social in a research report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $34.08.

Sprout Social Stock Performance

NASDAQ SPT 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 50-day simple moving average of $31.73 and a 200 day simple moving average of $30.54. 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 company has a market capitalization of $1.61 billion, a PE ratio of -23.41 and a beta of 1.06.

Sprout Social (NASDAQ:SPT) last issued its earnings results 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). The business had revenue of $107.09 million for the quarter, compared to the consensus estimate of $106.74 million. Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. On average, research analysts predict that Sprout Social will post -0.99 EPS for the current year.

Insider Buying and Selling at Sprout Social

In other Sprout Social news, Director Karen Walker sold 5,000 shares of Sprout Social stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $34.24, for a total transaction of $171,200.00. Following the transaction, the director now directly owns 35,665 shares of the company’s stock, valued at approximately $1,221,169.60. This trade represents a 12.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Paul Barretto sold 13,465 shares of Sprout Social 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 transaction, the chief executive officer now directly owns 546,343 shares in the company, valued at $17,182,487.35. This trade represents a 2.41 % decrease in their ownership of the stock. 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. 10.97% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in SPT. Impax Asset Management Group plc increased its stake in shares of Sprout Social by 46.6% in the third quarter. Impax Asset Management Group plc now owns 188,724 shares of the company’s stock worth $5,486,000 after buying an additional 60,000 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Sprout Social by 324.0% in the third quarter. JPMorgan Chase & Co. now owns 402,947 shares of the company’s stock worth $11,714,000 after buying an additional 307,906 shares during the period. Principal Financial Group Inc. increased its stake in shares of Sprout Social by 20.0% in the third quarter. Principal Financial Group Inc. now owns 1,199,451 shares of the company’s stock worth $34,868,000 after buying an additional 200,190 shares during the period. M&T Bank Corp purchased a new position in shares of Sprout Social in the third quarter worth $1,074,000. Finally, Zacks Investment Management purchased a new position in shares of Sprout Social in the third quarter worth $2,120,000.

Sprout Social Company Profile

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.