Oppenheimer Cuts Sprout Social (NASDAQ:SPT) Price Target to $32.00

Sprout Social (NASDAQ:SPT) had its target price reduced by Oppenheimer from $38.00 to $32.00 in a research report released on Friday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

A number of other analysts also recently issued reports on SPT. Canaccord Genuity Group reduced their price objective on Sprout Social from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Jefferies Financial Group boosted their price target 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. Barclays lowered their price objective on shares of Sprout Social from $34.00 to $26.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. Needham & Company LLC reduced their target price on shares of Sprout Social from $55.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Finally, Morgan Stanley lowered their price target on shares of 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 analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Sprout Social currently has an average rating of “Hold” and an average price target of $31.69.

Sprout Social Price Performance

Shares of NASDAQ:SPT opened at $23.90 on Friday. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of -19.92 and a beta of 1.20. The firm has a fifty day moving average price of $22.00 and a 200 day moving average price of $27.86. Sprout Social has a fifty-two week low of $18.52 and a fifty-two week high of $39.75. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96.

Sprout Social (NASDAQ:SPT) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.15 by $0.07. The business had revenue of $109.29 million during the quarter, compared to the consensus estimate of $107.63 million. Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. The business’s revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.10 EPS. As a group, sell-side analysts expect that Sprout Social will post -0.99 earnings per share for the current fiscal year.

Insider Transactions at Sprout Social

In other Sprout Social news, Director Karen Walker sold 5,000 shares of the company’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $19.42, for a total value of $97,100.00. Following the transaction, the director now directly owns 25,665 shares in the company, valued at $498,414.30. This represents a 16.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Aaron Edward Frederick Rankin sold 23,646 shares of Sprout Social stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $24.58, for a total transaction of $581,218.68. Following the sale, the director now directly owns 42,122 shares of the company’s stock, valued at $1,035,358.76. This represents a 35.95 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 125,446 shares of company stock worth $2,644,639. 10.12% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sprout Social

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Barclays PLC raised its holdings in shares of Sprout Social by 339.5% in the third quarter. Barclays PLC now owns 90,234 shares of the company’s stock valued at $2,623,000 after acquiring an additional 69,704 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Sprout Social by 5.4% in the 3rd quarter. Franklin Resources Inc. now owns 20,256 shares of the company’s stock valued at $576,000 after purchasing an additional 1,034 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Sprout Social by 20.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,199,451 shares of the company’s stock worth $34,868,000 after purchasing an additional 200,190 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Sprout Social by 324.0% during the third quarter. JPMorgan Chase & Co. now owns 402,947 shares of the company’s stock valued at $11,714,000 after purchasing an additional 307,906 shares in the last quarter. Finally, Diversified Trust Co boosted its stake in shares of Sprout Social by 8.1% during the fourth quarter. Diversified Trust Co now owns 17,044 shares of the company’s stock valued at $523,000 after purchasing an additional 1,274 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.