Sprout Social (NASDAQ:SPT) Given New $46.00 Price Target at Cantor Fitzgerald

Sprout Social (NASDAQ:SPT) had its price target trimmed by Cantor Fitzgerald from $74.00 to $46.00 in a report published on Friday, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities analysts also recently commented on SPT. BTIG Research downgraded Sprout Social from a buy rating to a neutral rating in a report on Friday. Jefferies Financial Group started coverage on shares of Sprout Social in a research report on Wednesday, February 7th. They set a buy rating and a $76.00 price objective on the stock. KeyCorp cut shares of Sprout Social from an overweight rating to a sector weight rating in a research report on Friday. The Goldman Sachs Group cut shares of Sprout Social from a buy rating to a neutral rating and reduced their price target for the company from $80.00 to $44.00 in a research report on Friday. Finally, Robert W. Baird lowered shares of Sprout Social from an outperform rating to a neutral rating and lowered their price objective for the stock from $72.00 to $45.00 in a report on Friday. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $57.07.

Sprout Social Trading Down 1.9 %

Shares of Sprout Social stock opened at $28.28 on Friday. The company’s fifty day simple moving average is $55.98 and its two-hundred day simple moving average is $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. Sprout Social has a 12-month low of $27.75 and a 12-month high of $68.41.

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

Insider Buying and Selling

In other Sprout Social news, President Ryan Paul Barretto sold 5,600 shares of Sprout Social stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $56.95, for a total transaction of $318,920.00. Following the completion of the transaction, the president now owns 198,175 shares in the company, valued at $11,286,066.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, President Ryan Paul Barretto sold 5,600 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $56.95, for a total transaction of $318,920.00. Following the sale, the president now directly owns 198,175 shares of the company’s stock, valued at approximately $11,286,066.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Preto Joseph Del sold 1,500 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $59.63, for a total transaction of $89,445.00. Following the sale, the chief financial officer now owns 172,644 shares of the company’s stock, valued at $10,294,761.72. The disclosure for this sale can be found here. Insiders have sold 89,100 shares of company stock worth $5,126,065 in the last 90 days. Insiders own 10.97% of the company’s stock.

Institutional Investors Weigh In On Sprout Social

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC bought a new position in shares of Sprout Social in the first quarter worth approximately $27,000. RiverPark Advisors LLC bought a new position in Sprout Social in the 3rd quarter worth $37,000. Guinness Atkinson Asset Management Inc purchased a new stake in Sprout Social in the 3rd quarter worth $40,000. DekaBank Deutsche Girozentrale bought a new stake in Sprout Social during the third quarter valued at about $47,000. Finally, Arcadia Investment Management Corp MI lifted its position in shares of Sprout Social by 36.7% in the fourth quarter. Arcadia Investment Management Corp MI now owns 1,047 shares of the company’s stock valued at $64,000 after acquiring an additional 281 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.