Sprout Social (NASDAQ:SPT) Price Target Lowered to $55.00 at Needham & Company LLC

Sprout Social (NASDAQ:SPT) had its price objective reduced by Needham & Company LLC from $75.00 to $55.00 in a research report report published on Friday, Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also issued research reports about the company. Stifel Nicolaus boosted their price target on Sprout Social from $60.00 to $70.00 and gave the company a buy rating in a report on Friday, January 19th. BTIG Research cut shares of Sprout Social from a buy rating to a neutral rating in a research note on Friday. KeyCorp lowered shares of Sprout Social from an overweight rating to a sector weight rating in a research report on Friday. Barclays decreased their price objective on shares of Sprout Social from $75.00 to $72.00 and set an overweight rating on the stock in a research report on Wednesday, February 21st. Finally, Morgan Stanley dropped their target price on shares of Sprout Social from $73.00 to $65.00 and set an equal weight rating for the company in a report on Wednesday, April 17th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Sprout Social presently has an average rating of Moderate Buy and a consensus price target of $57.07.

Sprout Social Stock Performance

Shares of SPT opened at $28.50 on Friday. Sprout Social has a one year low of $27.85 and a one year high of $68.41. The business has a fifty day moving average of $55.98 and a 200 day moving average of $56.80. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market capitalization of $1.60 billion, a P/E ratio of -23.06 and a beta of 1.09.

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

Insider Buying and Selling

In related news, CEO Justyn Russell Howard sold 20,000 shares of the company’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $56.52, for a total transaction of $1,130,400.00. Following the completion of the transaction, the chief executive officer now owns 406,636 shares in the company, valued at $22,983,066.72. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Sprout Social news, CEO Justyn Russell Howard sold 20,000 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $56.52, for a total transaction of $1,130,400.00. Following the completion of the transaction, the chief executive officer now owns 406,636 shares in the company, valued at $22,983,066.72. 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 22,000 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $56.95, for a total transaction of $1,252,900.00. Following the transaction, the director now owns 44,487 shares of the company’s stock, valued at approximately $2,533,534.65. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,100 shares of company stock worth $5,126,065. 10.97% of the stock is owned by insiders.

Institutional Investors Weigh In On Sprout Social

Several hedge funds and other institutional investors have recently made changes to their positions in SPT. Fidelis Capital Partners LLC purchased a new stake in shares of Sprout Social in the first quarter valued at $27,000. RiverPark Advisors LLC purchased a new position in Sprout Social in the 3rd quarter worth about $37,000. Guinness Atkinson Asset Management Inc purchased a new position in Sprout Social in the 3rd quarter worth about $40,000. DekaBank Deutsche Girozentrale purchased a new position in Sprout Social in the 3rd quarter worth about $47,000. Finally, Arcadia Investment Management Corp MI increased its stake in Sprout Social by 36.7% in the 4th quarter. Arcadia Investment Management Corp MI now owns 1,047 shares of the company’s stock worth $64,000 after buying an additional 281 shares during the period.

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.