Sprout Social (NASDAQ:SPT – Get Free Report) had its price objective cut by equities research analysts at The Goldman Sachs Group from $34.00 to $29.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 6.03% from the stock’s current price.
Other research analysts have also recently issued reports about the company. Barclays decreased their price target on Sprout Social from $38.00 to $34.00 and set an “overweight” rating on the stock in a research note on Wednesday. Oppenheimer decreased their target price on Sprout Social from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 3rd. Piper Sandler dropped their target price on Sprout Social from $29.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday. Stifel Nicolaus cut their price target on shares of Sprout Social from $45.00 to $34.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Jefferies Financial Group raised their price objective on shares of Sprout Social from $34.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Sprout Social has an average rating of “Hold” and an average price target of $33.85.
View Our Latest Research Report on SPT
Sprout Social Stock Performance
Sprout Social (NASDAQ:SPT – Get Free Report) last posted its 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 net margin of 17.24% and a negative return on equity of 40.94%. The company had revenue of $107.09 million during the quarter, compared to analyst estimates of $106.74 million. Equities analysts forecast that Sprout Social will post -0.99 earnings per share for the current year.
Insider Transactions at Sprout Social
In other news, Director Karen Walker sold 5,000 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $34.24, for a total value of $171,200.00. Following the completion of the transaction, the director now owns 35,665 shares in the company, valued at approximately $1,221,169.60. This represents a 12.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Justyn Russell Howard sold 40,000 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $31.67, for a total transaction of $1,266,800.00. Following the completion of the transaction, the insider now directly owns 27,136 shares in the company, valued at $859,397.12. This trade represents a 59.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 120,265 shares of company stock valued at $3,837,006. Insiders own 10.97% of the company’s stock.
Institutional Trading of Sprout Social
A number of hedge funds and other institutional investors have recently made changes to their positions in SPT. ArrowMark Colorado Holdings LLC increased its position in Sprout Social by 380.7% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,772,219 shares of the company’s stock worth $54,425,000 after buying an additional 1,403,549 shares during the period. Wellington Management Group LLP raised its position in Sprout Social by 16.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,762,443 shares of the company’s stock valued at $109,374,000 after purchasing an additional 519,406 shares during the last quarter. Norges Bank acquired a new stake in Sprout Social during the 4th quarter worth $13,422,000. Dorsey Asset Management LLC grew its position in Sprout Social by 16.7% during the 4th quarter. Dorsey Asset Management LLC now owns 2,306,149 shares of the company’s stock worth $70,822,000 after purchasing an additional 330,155 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings 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 valued at $11,714,000 after buying an additional 307,906 shares during the last quarter.
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.
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