Sprout Social (NASDAQ:SPT) PT Lowered to $50.00

Sprout Social (NASDAQ:SPT) had its price target lowered by Canaccord Genuity Group from $70.00 to $50.00 in a research report released on Friday, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages have also recently commented on SPT. Stifel Nicolaus increased their price target on shares of Sprout Social from $60.00 to $70.00 and gave the company a buy rating in a research note on Friday, January 19th. Needham & Company LLC cut their target price on shares of Sprout Social from $75.00 to $55.00 and set a buy rating for the company in a research note on Friday. Oppenheimer cut their target price on shares of Sprout Social from $76.00 to $43.00 and set an outperform rating for the company in a research note on Friday. KeyCorp cut shares of Sprout Social from an overweight rating to a sector weight rating in a research note on Friday. Finally, Cantor Fitzgerald lowered their price target on shares of Sprout Social from $74.00 to $46.00 and set an overweight rating on the stock in a research report on Friday. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $57.07.

Sprout Social Stock Down 1.9 %

Shares of SPT stock opened at $28.28 on Friday. The firm has a fifty day moving average of $55.98 and a 200-day moving average of $56.80. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.38. Sprout Social has a 12-month low of $27.75 and a 12-month high of $68.41. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of -22.62 and a beta of 1.09.

Sprout Social (NASDAQ:SPT) last announced its earnings results on Tuesday, February 20th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.02). Sprout Social had a negative return on equity of 42.60% and a negative net margin of 19.64%. The business had revenue of $93.58 million for the quarter, compared to analyst estimates of $90.76 million. As a group, equities research analysts predict that Sprout Social will post -1.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Sprout Social

In other Sprout Social news, CFO Preto Joseph Del sold 1,500 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $59.63, for a total value of $89,445.00. Following the transaction, the chief financial officer now directly owns 172,644 shares of the company’s stock, valued at approximately $10,294,761.72. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Justyn Russell Howard sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $56.52, for a total value of $1,130,400.00. Following the sale, the chief executive officer now directly owns 406,636 shares in the company, valued at approximately $22,983,066.72. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Preto Joseph Del sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $59.63, for a total transaction of $89,445.00. Following the completion of the sale, the chief financial officer now owns 172,644 shares in the company, valued at $10,294,761.72. The disclosure for this sale can be found here. Insiders have sold a total of 89,100 shares of company stock valued at $5,126,065 in the last ninety days. 10.97% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sprout Social

A number of hedge funds have recently made changes to their positions in SPT. Bank of New York Mellon Corp boosted its position in Sprout Social by 7.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 401,057 shares of the company’s stock worth $20,005,000 after buying an additional 28,466 shares during the period. Bailard Inc. lifted its position in shares of Sprout Social by 24.6% in the 3rd quarter. Bailard Inc. now owns 39,964 shares of the company’s stock worth $1,993,000 after purchasing an additional 7,885 shares during the period. Verdence Capital Advisors LLC lifted its position in shares of Sprout Social by 16.7% in the 3rd quarter. Verdence Capital Advisors LLC now owns 7,120 shares of the company’s stock worth $355,000 after purchasing an additional 1,020 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Sprout Social by 15.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,115 shares of the company’s stock worth $505,000 after purchasing an additional 1,389 shares during the period. Finally, Brighton Jones LLC acquired a new position in shares of Sprout Social in the 3rd quarter worth approximately $423,000.

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.