Sprout Social (NASDAQ:SPT) PT Lowered to $38.00 at Barclays

Sprout Social (NASDAQ:SPT) had its target price cut by Barclays from $48.00 to $38.00 in a report issued on Friday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts have also recently issued reports on SPT. Cantor Fitzgerald reaffirmed an overweight rating and issued a $46.00 price objective on shares of Sprout Social in a research note on Friday, August 2nd. KeyCorp cut Sprout Social from a sector weight rating to an underweight rating and set a $28.00 price objective on the stock. in a research note on Thursday, August 22nd. Needham & Company LLC reissued a buy rating and issued a $55.00 target price on shares of Sprout Social in a research note on Friday, August 2nd. Finally, Robert W. Baird raised their price target on Sprout Social from $38.00 to $40.00 and gave the stock a neutral rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, Sprout Social currently has a consensus rating of Hold and a consensus target price of $48.25.

Sprout Social Price Performance

Sprout Social stock opened at $28.90 on Friday. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of -22.06 and a beta of 0.97. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.26. The business has a 50-day simple moving average of $29.81 and a 200 day simple moving average of $36.11. Sprout Social has a 52 week low of $25.05 and a 52 week high of $68.41.

Sprout Social (NASDAQ:SPT) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01. The company had revenue of $99.40 million for the quarter, compared to analysts’ expectations of $98.70 million. Sprout Social had a negative net margin of 19.60% and a negative return on equity of 44.38%. Sprout Social’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.23) earnings per share. On average, research analysts forecast that Sprout Social will post -0.9 earnings per share for the current fiscal year.

Insider Activity at Sprout Social

In related news, President Ryan Paul Barretto sold 13,306 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $29.23, for a total value of $388,934.38. Following the completion of the transaction, the president now directly 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, President Ryan Paul Barretto sold 13,306 shares of Sprout Social stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $29.23, for a total value of $388,934.38. Following the completion of the transaction, the president now owns 470,809 shares of the company’s stock, valued at $13,761,747.07. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Aaron Edward Frederick Rankin sold 1,181 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $29.23, for a total transaction of $34,520.63. Following the sale, the director now directly owns 42,122 shares in the company, valued at $1,231,226.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 87,882 shares of company stock worth $2,570,471 over the last ninety days. 10.97% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sprout Social

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SPT. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Sprout Social by 20.0% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 94,047 shares of the company’s stock valued at $5,777,000 after purchasing an additional 15,662 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Sprout Social by 5.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 306,640 shares of the company’s stock worth $18,840,000 after purchasing an additional 16,726 shares during the period. Moody National Bank Trust Division raised its stake in Sprout Social by 2.8% during the 1st quarter. Moody National Bank Trust Division now owns 75,012 shares of the company’s stock valued at $4,479,000 after buying an additional 2,043 shares during the last quarter. WoodTrust Financial Corp lifted its holdings in shares of Sprout Social by 6.7% during the 1st quarter. WoodTrust Financial Corp now owns 23,800 shares of the company’s stock valued at $1,421,000 after buying an additional 1,500 shares during the period. Finally, Diversified Trust Co boosted its stake in shares of Sprout Social by 6.4% in the 1st quarter. Diversified Trust Co now owns 14,207 shares of the company’s stock worth $848,000 after buying an additional 852 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.