Piper Sandler Issues Pessimistic Forecast for Sprout Social (NASDAQ:SPT) Stock Price

Sprout Social (NASDAQ:SPT) had its price objective decreased by Piper Sandler from $29.00 to $27.00 in a research note published on Wednesday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Other research analysts have also issued research reports about the company. Needham & Company LLC reiterated a “buy” rating and set a $55.00 price target on shares of Sprout Social in a report on Wednesday, January 15th. Barclays dropped their target price on Sprout Social from $38.00 to $34.00 and set an “overweight” rating for the company in a research report on Wednesday. Jefferies Financial Group lifted their price objective on Sprout Social from $34.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Morgan Stanley lifted their price objective on Sprout Social from $36.00 to $37.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Finally, Oppenheimer decreased their target price on Sprout Social from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $34.08.

Sprout Social Trading Up 3.1 %

Shares of NASDAQ:SPT opened at $28.09 on Wednesday. Sprout Social has a 1 year low of $25.05 and a 1 year high of $64.91. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of -23.41 and a beta of 1.06. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96. The business’s 50 day moving average price is $31.73 and its 200-day moving average price is $30.54.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.20) earnings per share 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 firm had revenue of $107.09 million during the quarter, compared to analysts’ expectations of $106.74 million. On average, equities research analysts forecast that Sprout Social will post -0.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Karen Walker sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $34.24, for a total value of $171,200.00. Following the sale, the director now owns 35,665 shares of the company’s stock, valued at approximately $1,221,169.60. This trade represents a 12.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Justyn Russell Howard sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $32.59, for a total value of $1,303,600.00. Following the completion of the sale, the insider now directly owns 7,417 shares in the company, valued at approximately $241,720.03. This trade represents a 84.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 120,265 shares of company stock valued at $3,837,006 in the last quarter. Insiders own 10.97% of the company’s stock.

Institutional Trading of Sprout Social

Several hedge funds have recently made changes to their positions in SPT. Quarry LP raised its stake in Sprout Social by 100.9% during the 3rd quarter. Quarry LP now owns 1,573 shares of the company’s stock valued at $46,000 after acquiring an additional 790 shares in the last quarter. US Bancorp DE raised its stake in Sprout Social by 2,392.6% during the 4th quarter. US Bancorp DE now owns 1,695 shares of the company’s stock valued at $52,000 after acquiring an additional 1,627 shares in the last quarter. KBC Group NV raised its stake in Sprout Social by 77.1% during the 4th quarter. KBC Group NV now owns 2,525 shares of the company’s stock valued at $78,000 after acquiring an additional 1,099 shares in the last quarter. Assetmark Inc. raised its stake in 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 acquiring an additional 801 shares in the last quarter. Finally, Yarbrough Capital LLC bought a new stake in Sprout Social during the 4th quarter valued at $206,000.

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.