Sprout Social (NASDAQ:SPT) Given New $29.00 Price Target at Piper Sandler

Sprout Social (NASDAQ:SPT) had its price objective decreased by stock analysts at Piper Sandler from $40.00 to $29.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s target price indicates a potential upside of 0.73% from the company’s current price.

Other research analysts have also recently issued reports about the stock. KeyCorp cut shares of Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 target price for the company. in a report on Thursday, August 22nd. Barclays dropped their target price on shares of Sprout Social from $48.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $46.00 target price on shares of Sprout Social in a report on Friday, August 2nd. Oppenheimer dropped their target price on shares of Sprout Social from $43.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, Robert W. Baird increased their target price on shares of Sprout Social from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Sprout Social presently has a consensus rating of “Hold” and an average target price of $47.08.

Sprout Social Trading Up 0.7 %

NASDAQ SPT opened at $28.79 on Monday. The stock has a market capitalization of $1.64 billion, a P/E ratio of -23.83 and a beta of 0.99. Sprout Social has a 52-week low of $25.05 and a 52-week high of $68.41. The firm has a 50-day moving average price of $28.08 and a 200 day moving average price of $32.09. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.26.

Sprout Social (NASDAQ:SPT) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.06). The firm had revenue of $102.64 million for the quarter, compared to analysts’ expectations of $102.04 million. Sprout Social had a negative return on equity of 41.65% and a negative net margin of 17.24%. Equities research analysts expect that Sprout Social will post -0.9 EPS for the current year.

Insider Buying and Selling

In related news, President Ryan Paul Barretto sold 13,306 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $29.23, for a total transaction of $388,934.38. Following the sale, the president now owns 470,809 shares in the company, valued at approximately $13,761,747.07. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Sprout Social news, President Ryan Paul Barretto sold 13,306 shares of Sprout Social stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $29.23, for a total value of $388,934.38. Following the transaction, the president now owns 470,809 shares in the company, valued at $13,761,747.07. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Preto Joseph Del sold 1,500 shares of Sprout Social stock in a transaction on Monday, October 7th. The shares were sold at an average price of $28.27, for a total transaction of $42,405.00. Following the completion of the transaction, the chief financial officer now owns 158,614 shares in the company, valued at approximately $4,484,017.78. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 62,882 shares of company stock worth $1,801,351. 10.97% of the stock is owned by insiders.

Hedge Funds Weigh In On Sprout Social

A number of hedge funds have recently made changes to their positions in the stock. Impax Asset Management Group plc lifted its holdings in shares of Sprout Social by 46.6% during the 3rd quarter. Impax Asset Management Group plc now owns 188,724 shares of the company’s stock valued at $5,486,000 after acquiring an additional 60,000 shares in the last quarter. Emerald Advisers LLC acquired a new position in shares of Sprout Social during the 2nd quarter valued at $4,345,000. Picton Mahoney Asset Management lifted its holdings in shares of Sprout Social by 642.5% during the 1st quarter. Picton Mahoney Asset Management now owns 21,830 shares of the company’s stock valued at $1,304,000 after acquiring an additional 18,890 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Sprout Social by 2.4% during the 1st quarter. Clearbridge Investments LLC now owns 2,593,907 shares of the company’s stock valued at $154,882,000 after acquiring an additional 61,568 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Sprout Social by 20.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,199,451 shares of the company’s stock valued at $34,868,000 after acquiring an additional 200,190 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.