The Goldman Sachs Group Cuts Sprout Social (NASDAQ:SPT) Price Target to $23.00

Sprout Social (NASDAQ:SPT) had its target price reduced by The Goldman Sachs Group from $29.00 to $23.00 in a research note released on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

SPT has been the topic of a number of other research reports. Jefferies Financial Group raised their target price on Sprout Social from $34.00 to $42.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Stifel Nicolaus lowered their price objective on Sprout Social from $45.00 to $34.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Piper Sandler dropped their price objective on shares of Sprout Social from $29.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Canaccord Genuity Group lowered their target price on Sprout Social from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Finally, Scotiabank reduced their target price on shares of Sprout Social from $28.00 to $25.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Sprout Social currently has an average rating of “Hold” and a consensus target price of $32.77.

Sprout Social Stock Up 1.4 %

Shares of Sprout Social stock opened at $19.64 on Thursday. Sprout Social has a 1-year low of $18.72 and a 1-year high of $53.96. The business has a 50-day moving average of $24.42 and a 200-day moving average of $28.64. 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 company has a market capitalization of $1.13 billion, a PE ratio of -16.37 and a beta of 1.11.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.35). The firm had revenue of $107.09 million during the quarter, compared to the consensus estimate of $106.74 million. Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. As a group, equities analysts forecast that Sprout Social will post -0.99 EPS for the current fiscal year.

Insider Transactions at Sprout Social

In related news, insider Justyn Russell Howard sold 40,000 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $32.59, for a total value of $1,303,600.00. Following the completion of the transaction, the insider now directly owns 7,417 shares in the company, valued at approximately $241,720.03. The trade was a 84.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Karen Walker sold 5,000 shares of Sprout Social stock in a transaction on Monday, April 14th. The stock was sold at an average price of $19.42, for a total transaction of $97,100.00. Following the completion of the transaction, the director now owns 25,665 shares in the company, valued at approximately $498,414.30. The trade was a 16.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 125,446 shares of company stock worth $3,115,839 in the last 90 days. Insiders own 10.97% of the company’s stock.

Hedge Funds Weigh In On Sprout Social

A number of hedge funds have recently modified their holdings of the company. Harbor Capital Advisors Inc. lifted its holdings in shares of Sprout Social by 31.0% during the first quarter. Harbor Capital Advisors Inc. now owns 12,499 shares of the company’s stock valued at $275,000 after purchasing an additional 2,955 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Sprout Social by 9.6% during the 1st quarter. Rhumbline Advisers now owns 76,976 shares of the company’s stock valued at $1,693,000 after purchasing an additional 6,774 shares during the period. GAMMA Investing LLC raised its position in Sprout Social by 19,500.0% in the first quarter. GAMMA Investing LLC now owns 9,016 shares of the company’s stock worth $198,000 after acquiring an additional 8,970 shares during the period. Versant Capital Management Inc grew its holdings in Sprout Social by 1,319.4% during the first quarter. Versant Capital Management Inc now owns 1,462 shares of the company’s stock valued at $32,000 after purchasing an additional 1,359 shares during the period. Finally, Jefferies Financial Group Inc. bought a new stake in shares of Sprout Social during the 4th quarter valued at $4,296,000.

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.