Scotiabank Lowers Sprout Social (NASDAQ:SPT) Price Target to $25.00

Sprout Social (NASDAQ:SPT) had its target price trimmed by Scotiabank from $28.00 to $25.00 in a research note published on Thursday,Benzinga reports. The brokerage currently has a sector perform rating on the stock.

Several other research analysts have also weighed in on the stock. Stifel Nicolaus lowered their target price on shares of Sprout Social from $45.00 to $34.00 and set a “buy” rating for the company in a research note on Wednesday. Morgan Stanley lowered their target price on shares of Sprout Social from $37.00 to $30.00 and set an “equal weight” rating for the company in a research note on Wednesday. Oppenheimer lowered their target price on shares of Sprout Social from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Tuesday, December 3rd. Barclays lowered their target price on shares of Sprout Social from $38.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Jefferies Financial Group increased their target price on shares of Sprout Social from $34.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $33.85.

Sprout Social Trading Down 3.0 %

Shares of SPT opened at $26.52 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19. Sprout Social has a 12-month low of $25.05 and a 12-month high of $64.91. The firm has a 50-day moving average price of $31.51 and a 200 day moving average price of $30.47. The firm has a market capitalization of $1.52 billion, a P/E ratio of -22.10 and a beta of 1.06.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.20) earnings per share (EPS) 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. Sell-side analysts forecast that Sprout Social will post -0.99 EPS for the current year.

Insider Transactions at Sprout Social

In related news, insider Justyn Russell Howard sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $31.67, for a total value of $1,266,800.00. Following the sale, the insider now owns 27,136 shares of the company’s stock, valued at $859,397.12. This trade represents a 59.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Karen Walker sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $34.24, for a total transaction of $171,200.00. Following the completion of the sale, the director now directly owns 35,665 shares in the company, valued at approximately $1,221,169.60. This trade represents a 12.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 120,265 shares of company stock valued at $3,837,006. 10.97% of the stock is currently owned by corporate insiders.

Institutional Trading of Sprout Social

Several hedge funds have recently added to or reduced their stakes in SPT. Jefferies Financial Group Inc. purchased a new stake in shares of Sprout Social during the 4th quarter worth approximately $4,296,000. Woodline Partners LP purchased a new stake in shares of Sprout Social during the 4th quarter worth approximately $233,000. Two Sigma Advisers LP lifted its position in shares of Sprout Social by 96.4% during the 4th quarter. Two Sigma Advisers LP now owns 110,600 shares of the company’s stock worth $3,397,000 after buying an additional 54,300 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of Sprout Social by 49.9% during the 4th quarter. ProShare Advisors LLC now owns 14,459 shares of the company’s stock worth $444,000 after buying an additional 4,811 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its position in shares of Sprout Social by 110.7% during the 4th quarter. Nuveen Asset Management LLC now owns 454,162 shares of the company’s stock worth $13,947,000 after buying an additional 238,650 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.