Sprout Social (NASDAQ:SPT) Price Target Cut to $32.00 by Analysts at Needham & Company LLC

Sprout Social (NASDAQ:SPT) had its price objective cut by Needham & Company LLC from $55.00 to $32.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price indicates a potential upside of 17.43% from the stock’s current price.

Several other research firms have also recently issued reports on SPT. Morgan Stanley increased their target price on shares of Sprout Social from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Oppenheimer reduced their price objective on Sprout Social from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 3rd. Scotiabank assumed coverage on shares of Sprout Social in a research note on Monday, November 18th. They issued a “sector perform” rating and a $28.00 target price on the stock. Barclays dropped their price objective on Sprout Social from $38.00 to $34.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Jefferies Financial Group upped their price objective on shares of Sprout Social from $34.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $37.17.

Sprout Social Stock Performance

Shares of SPT opened at $27.25 on Wednesday. Sprout Social has a one year low of $25.05 and a one year high of $65.32. The company has a market cap of $1.56 billion, a PE ratio of -22.71 and a beta of 1.06. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a 50-day moving average of $31.83 and a 200-day moving average of $30.55.

Sprout Social (NASDAQ:SPT) last released its earnings results on Tuesday, February 25th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.35). Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. On average, equities research analysts predict that Sprout Social will post -0.99 EPS for the current fiscal year.

Insider Buying and Selling at Sprout Social

In related news, insider Justyn Russell Howard sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $32.59, for a total value of $1,303,600.00. Following the transaction, the insider now directly owns 7,417 shares of the company’s stock, valued at approximately $241,720.03. This represents a 84.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Paul Barretto sold 13,465 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $31.45, for a total value of $423,474.25. Following the sale, the chief executive officer now owns 546,343 shares in the company, valued at approximately $17,182,487.35. This represents a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 120,265 shares of company stock worth $3,837,006. 10.97% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPT. Quarry LP raised its stake in Sprout Social by 100.9% during the 3rd quarter. Quarry LP now owns 1,573 shares of the company’s stock valued at $46,000 after buying an additional 790 shares during the last quarter. US Bancorp DE boosted its stake in shares of Sprout Social by 2,392.6% in the 4th quarter. US Bancorp DE now owns 1,695 shares of the company’s stock worth $52,000 after buying an additional 1,627 shares during the last quarter. KBC Group NV grew its holdings in shares of Sprout Social by 77.1% in the fourth quarter. KBC Group NV now owns 2,525 shares of the company’s stock worth $78,000 after acquiring an additional 1,099 shares during the period. Assetmark Inc. increased its position in Sprout Social by 27.5% during the third quarter. Assetmark Inc. now owns 3,717 shares of the company’s stock valued at $108,000 after acquiring an additional 801 shares during the last quarter. Finally, Yarbrough Capital LLC bought a new position in Sprout Social in the fourth quarter valued at about $206,000.

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.