Cantor Fitzgerald Lowers Sprout Social (NASDAQ:SPT) Price Target to $46.00

Sprout Social (NASDAQ:SPT) had its target price dropped by Cantor Fitzgerald from $74.00 to $46.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Cantor Fitzgerald’s target price would indicate a potential upside of 59.61% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the company. Piper Sandler downgraded Sprout Social from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $66.00 to $40.00 in a report on Friday. Oppenheimer lowered their price target on Sprout Social from $76.00 to $43.00 and set an “outperform” rating on the stock in a research report on Friday. Canaccord Genuity Group reiterated a “buy” rating and set a $70.00 price objective on shares of Sprout Social in a research note on Wednesday, February 21st. Barclays reduced their target price on shares of Sprout Social from $75.00 to $72.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 21st. Finally, Robert W. Baird cut shares of Sprout Social from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $72.00 to $45.00 in a research report on Friday. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.07.

Sprout Social Stock Down 40.1 %

SPT opened at $28.82 on Friday. The stock’s 50 day simple moving average is $55.98 and its 200-day simple moving average is $56.71. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.08 and a current ratio of 1.08. Sprout Social has a 1 year low of $27.85 and a 1 year high of $68.41.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings data 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). The business had revenue of $93.58 million during the quarter, compared to analyst estimates of $90.76 million. Sprout Social had a negative net margin of 19.64% and a negative return on equity of 42.60%. On average, analysts expect that Sprout Social will post -1.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Sprout Social news, CFO Preto Joseph Del sold 1,500 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $59.71, for a total value of $89,565.00. Following the completion of the transaction, the chief financial officer now directly owns 127,322 shares of the company’s stock, valued at $7,602,396.62. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Sprout Social news, CFO Preto Joseph Del sold 1,500 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $59.71, for a total value of $89,565.00. Following the transaction, the chief financial officer now directly owns 127,322 shares in the company, valued at approximately $7,602,396.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Ryan Paul Barretto sold 5,600 shares of Sprout Social stock in a transaction on Monday, February 5th. The shares were sold at an average price of $59.63, for a total value of $333,928.00. Following the completion of the sale, the president now directly owns 209,375 shares of the company’s stock, valued at $12,485,031.25. The disclosure for this sale can be found here. Insiders have sold a total of 140,200 shares of company stock valued at $8,171,958 in the last 90 days. 10.97% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. RiverPark Advisors LLC raised its position in shares of Sprout Social by 361.1% during the 1st quarter. RiverPark Advisors LLC now owns 5,750 shares of the company’s stock valued at $343,000 after acquiring an additional 4,503 shares during the last quarter. Jennison Associates LLC increased its holdings in Sprout Social by 17.0% in the first quarter. Jennison Associates LLC now owns 2,137,422 shares of the company’s stock valued at $127,625,000 after purchasing an additional 311,146 shares during the last quarter. Fidelis Capital Partners LLC acquired a new position in Sprout Social in the first quarter valued at about $27,000. Allspring Global Investments Holdings LLC boosted its holdings in Sprout Social by 2.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 334,661 shares of the company’s stock worth $19,983,000 after buying an additional 7,194 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Sprout Social by 1.6% during the first quarter. Principal Financial Group Inc. now owns 881,101 shares of the company’s stock worth $52,611,000 after buying an additional 13,472 shares during 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.