Sprout Social (NASDAQ:SPT) PT Lowered to $43.00 at Oppenheimer

Sprout Social (NASDAQ:SPT) had its target price decreased by investment analysts at Oppenheimer from $76.00 to $43.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s target price points to a potential upside of 49.20% from the company’s previous close.

Several other research firms have also recently weighed in on SPT. Stifel Nicolaus raised their target price on shares of Sprout Social from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, January 19th. Piper Sandler cut shares of Sprout Social from an “overweight” rating to a “neutral” rating and cut their target price for the company from $66.00 to $40.00 in a research note on Friday. Morgan Stanley cut 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 research note on Wednesday, April 17th. Needham & Company LLC cut their target price on shares of Sprout Social from $75.00 to $55.00 and set a “buy” rating for the company in a research note on Friday. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $70.00 target price on shares of Sprout Social in a research note on Wednesday, February 21st. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $57.07.

Sprout Social Price Performance

Shares of NASDAQ SPT opened at $28.82 on Friday. The firm has a fifty day moving average price of $55.98 and a 200-day moving average price of $56.71. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.08 and a quick ratio of 1.08. Sprout Social has a 1 year low of $27.85 and a 1 year high of $68.41.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings data 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). The firm had revenue of $93.58 million during the quarter, compared to analysts’ expectations of $90.76 million. Sprout Social had a negative return on equity of 42.60% and a negative net margin of 19.64%. Analysts anticipate that Sprout Social will post -1.17 earnings per share for the current year.

Insider Transactions at Sprout Social

In other news, CEO Justyn Russell Howard sold 20,000 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $56.52, for a total value of $1,130,400.00. Following the completion of the sale, the chief executive officer now owns 406,636 shares in the company, valued at approximately $22,983,066.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Justyn Russell Howard sold 20,000 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $56.52, for a total transaction of $1,130,400.00. Following the completion of the sale, the chief executive officer now directly owns 406,636 shares in the company, valued at approximately $22,983,066.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Aaron Edward Frederick Rankin sold 44,000 shares of Sprout Social stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $59.60, for a total value of $2,622,400.00. Following the completion of the transaction, the director now owns 40,888 shares in the company, valued at approximately $2,436,924.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 140,200 shares of company stock worth $8,171,958. 10.97% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sprout Social

Several institutional investors and hedge funds have recently bought and sold shares of the company. RiverPark Advisors LLC boosted its position in shares of Sprout Social by 361.1% in the 1st quarter. RiverPark Advisors LLC now owns 5,750 shares of the company’s stock worth $343,000 after purchasing an additional 4,503 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Sprout Social by 17.0% during the first quarter. Jennison Associates LLC now owns 2,137,422 shares of the company’s stock worth $127,625,000 after acquiring an additional 311,146 shares during the last quarter. Fidelis Capital Partners LLC acquired a new position in shares of Sprout Social during the first quarter valued at about $27,000. Allspring Global Investments Holdings LLC raised its position in shares of Sprout Social by 2.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 334,661 shares of the company’s stock valued at $19,983,000 after purchasing an additional 7,194 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Sprout Social by 1.6% in the 1st quarter. Principal Financial Group Inc. now owns 881,101 shares of the company’s stock worth $52,611,000 after purchasing an additional 13,472 shares in the last quarter.

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.