Oppenheimer Lowers Sprout Social (NASDAQ:SPT) Price Target to $43.00

Sprout Social (NASDAQ:SPT) had its target price reduced by Oppenheimer from $76.00 to $43.00 in a research report report published on Friday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other research analysts also recently issued reports on the company. Stifel Nicolaus boosted their price target on Sprout Social from $60.00 to $70.00 and gave the company a buy rating in a report on Friday, January 19th. Piper Sandler cut Sprout Social from an overweight rating to a neutral rating and cut their price objective for the company from $66.00 to $40.00 in a research report on Friday. Morgan Stanley cut their price objective on Sprout Social from $73.00 to $65.00 and set an equal weight rating for the company in a research report on Wednesday, April 17th. Barclays cut their price objective on Sprout Social from $75.00 to $72.00 and set an overweight rating for the company in a research report on Wednesday, February 21st. Finally, Canaccord Genuity Group restated a buy rating and issued a $70.00 price objective on shares of Sprout Social in a research report on Wednesday, February 21st. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $57.07.

Sprout Social Trading Down 1.9 %

Sprout Social stock opened at $28.28 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.38. Sprout Social has a 52 week low of $27.75 and a 52 week high of $68.41. The stock has a 50-day moving average price of $55.98 and a 200 day moving average price of $56.80.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings results on Tuesday, February 20th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). Sprout Social had a negative net margin of 19.64% and a negative return on equity of 42.60%. The company had revenue of $93.58 million during the quarter, compared to analyst estimates of $90.76 million. Research analysts predict that Sprout Social will post -1.17 earnings per share for the current year.

Insider Activity

In other news, CEO Justyn Russell Howard sold 40,000 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $58.36, for a total value of $2,334,400.00. Following the transaction, the chief executive officer now owns 287,912 shares of the company’s stock, valued at approximately $16,802,544.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Justyn Russell Howard sold 40,000 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $58.36, for a total value of $2,334,400.00. Following the transaction, the chief executive officer now owns 287,912 shares of the company’s stock, valued at approximately $16,802,544.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Preto Joseph Del sold 1,500 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $59.63, for a total value of $89,445.00. Following the completion of the transaction, the chief financial officer now directly owns 172,644 shares in the company, valued at approximately $10,294,761.72. The disclosure for this sale can be found here. Insiders have sold a total of 89,100 shares of company stock valued at $5,126,065 in the last quarter. Insiders own 10.97% of the company’s stock.

Hedge Funds Weigh In On Sprout Social

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Sprout Social by 3.9% during the 3rd quarter. Vanguard Group Inc. now owns 5,084,389 shares of the company’s stock worth $253,609,000 after acquiring an additional 191,471 shares in the last quarter. Baillie Gifford & Co. lifted its stake in Sprout Social by 244.1% during the 3rd quarter. Baillie Gifford & Co. now owns 4,404,402 shares of the company’s stock worth $219,692,000 after acquiring an additional 3,124,376 shares in the last quarter. Wellington Management Group LLP lifted its stake in Sprout Social by 27.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,953,155 shares of the company’s stock worth $197,183,000 after acquiring an additional 853,127 shares in the last quarter. Clearbridge Investments LLC lifted its stake in Sprout Social by 6.5% during the 4th quarter. Clearbridge Investments LLC now owns 2,532,339 shares of the company’s stock worth $155,587,000 after acquiring an additional 153,642 shares in the last quarter. Finally, Jennison Associates LLC lifted its stake in Sprout Social by 17.0% during the 1st quarter. Jennison Associates LLC now owns 2,137,422 shares of the company’s stock worth $127,625,000 after acquiring an additional 311,146 shares in the last quarter.

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.