Oppenheimer Trims Sprout Social (NASDAQ:SPT) Target Price to $40.00

Sprout Social (NASDAQ:SPT) had its price target lowered by Oppenheimer from $43.00 to $40.00 in a research note issued to investors on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

Other analysts have also recently issued research reports about the company. Cantor Fitzgerald restated an “overweight” rating and set a $46.00 target price on shares of Sprout Social in a report on Friday, August 2nd. Barclays cut their price target on Sprout Social from $48.00 to $38.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. KeyCorp lowered Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 price target on the stock. in a research note on Thursday, August 22nd. Robert W. Baird upped their price target on Sprout Social from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 price target on shares of Sprout Social in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $48.00.

Sprout Social Price Performance

Shares of SPT stock opened at $26.81 on Thursday. The stock’s fifty day moving average is $29.10 and its 200-day moving average is $34.05. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market capitalization of $1.52 billion, a PE ratio of -21.45 and a beta of 0.97. Sprout Social has a 52 week low of $25.05 and a 52 week high of $68.41.

Sprout Social (NASDAQ:SPT) last announced its earnings results on Thursday, August 1st. The company reported $0.09 EPS 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 return on equity of 44.38% and a negative net margin of 19.60%. The business’s revenue for the quarter was up 25.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.23) earnings per share. Equities research analysts expect that Sprout Social will post -0.9 EPS for the current fiscal year.

Insider Transactions at Sprout Social

In other news, President Ryan Paul Barretto sold 13,306 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was 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 of the company’s stock, valued at $13,761,747.07. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Justyn Russell Howard sold 20,000 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $28.23, for a total transaction of $564,600.00. Following the completion of the transaction, the insider now directly owns 7,417 shares in the company, valued at approximately $209,381.91. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Ryan Paul Barretto sold 13,306 shares of the 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 transaction, the president now owns 470,809 shares of the company’s stock, valued at approximately $13,761,747.07. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 87,882 shares of company stock valued at $2,570,471 over the last 90 days. 10.97% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SPT. Goldman Sachs Group Inc. grew its holdings in shares of Sprout Social by 5.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 306,640 shares of the company’s stock worth $18,840,000 after buying an additional 16,726 shares in the last quarter. WoodTrust Financial Corp grew its holdings in shares of Sprout Social by 6.7% during the first quarter. WoodTrust Financial Corp now owns 23,800 shares of the company’s stock worth $1,421,000 after buying an additional 1,500 shares in the last quarter. Diversified Trust Co grew its holdings in shares of Sprout Social by 6.4% during the first quarter. Diversified Trust Co now owns 14,207 shares of the company’s stock worth $848,000 after buying an additional 852 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of 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 in the last quarter. Finally, Wasatch Advisors LP grew its holdings in shares of Sprout Social by 2.5% during the first quarter. Wasatch Advisors LP now owns 1,765,591 shares of the company’s stock worth $105,423,000 after buying an additional 43,262 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.