Sprout Social (NASDAQ:SPT) Price Target Cut to $55.00

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

SPT has been the topic of several other research reports. Robert W. Baird cut shares of Sprout Social from an outperform rating to a neutral rating and reduced their price target for the stock from $72.00 to $45.00 in a research report on Friday. Stifel Nicolaus upped their price objective on Sprout Social from $60.00 to $70.00 and gave the stock a buy rating in a research report on Friday, January 19th. Barclays reduced their price objective on Sprout Social from $75.00 to $72.00 and set an overweight rating on the stock in a research note on Wednesday, February 21st. Morgan Stanley lowered their target price on 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. Finally, BTIG Research lowered Sprout Social from a buy rating to a neutral rating in a research report on Friday. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $57.07.

Sprout Social Trading Down 1.9 %

NASDAQ:SPT opened at $28.28 on Friday. Sprout Social has a fifty-two week low of $27.75 and a fifty-two week high of $68.41. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.38. The company has a 50 day moving average price of $55.98 and a 200 day moving average price of $56.80.

Sprout Social (NASDAQ:SPT) last issued its quarterly earnings data on Tuesday, February 20th. The company reported ($0.32) earnings per share 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 during the quarter, compared to analyst estimates of $90.76 million. As a group, equities analysts forecast that Sprout Social will post -1.17 earnings per share for the current fiscal year.

Insider Transactions at Sprout Social

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

Institutional Trading of Sprout Social

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

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.