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

Sprout Social (NASDAQ:SPT) had its target price cut by equities research analysts at Stifel Nicolaus from $45.00 to $34.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would suggest a potential upside of 25.73% from the stock’s current price.

Other research analysts have also issued reports about the stock. Oppenheimer decreased their price objective on shares of Sprout Social from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Tuesday, December 3rd. Scotiabank started coverage on shares of Sprout Social in a report on Monday, November 18th. They issued a “sector perform” rating and a $28.00 price objective for the company. Piper Sandler decreased 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. Needham & Company LLC reduced their price objective on shares of Sprout Social from $55.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Jefferies Financial Group upped their price target on Sprout Social from $34.00 to $42.00 and gave the company a “buy” rating in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Sprout Social has a consensus rating of “Hold” and a consensus price target of $36.92.

Sprout Social Price Performance

Shares of NASDAQ:SPT opened at $27.04 on Wednesday. The company has a 50-day moving average price of $31.83 and a two-hundred day moving average price of $30.55. Sprout Social has a twelve month low of $25.05 and a twelve month high of $65.32. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $1.55 billion, a PE ratio of -22.09 and a beta of 1.06.

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

Insider Activity at Sprout Social

In related news, Director Karen Walker sold 5,000 shares of Sprout Social stock in a transaction 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 owns 35,665 shares in the company, valued at approximately $1,221,169.60. The trade was a 12.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Paul Barretto sold 16,800 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $30.99, for a total value of $520,632.00. Following the sale, the chief executive officer now directly owns 153,375 shares in the company, valued at approximately $4,753,091.25. This represents a 9.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 120,265 shares of company stock worth $3,837,006. Corporate insiders own 10.97% of the company’s stock.

Hedge Funds Weigh In On Sprout Social

A number of hedge funds and other institutional investors have recently modified their holdings of SPT. Quarry LP increased 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 worth $46,000 after purchasing an additional 790 shares during the last quarter. US Bancorp DE grew its stake in shares of Sprout Social by 2,392.6% in the 4th quarter. US Bancorp DE now owns 1,695 shares of the company’s stock worth $52,000 after buying an additional 1,627 shares in the last quarter. KBC Group NV increased its holdings in shares of Sprout Social by 77.1% in the 4th quarter. KBC Group NV now owns 2,525 shares of the company’s stock worth $78,000 after buying an additional 1,099 shares during the last quarter. Assetmark Inc. raised its position in shares of Sprout Social by 27.5% during the 3rd quarter. Assetmark Inc. now owns 3,717 shares of the company’s stock valued at $108,000 after buying an additional 801 shares in the last quarter. Finally, Yarbrough Capital LLC bought a new position in shares of Sprout Social in the 4th quarter valued at about $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.