Sprout Social (NASDAQ:SPT) Price Target Lowered to $12.00 at Jefferies Financial Group

Sprout Social (NASDAQ:SPT) had its target price trimmed by Jefferies Financial Group from $15.00 to $12.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts have also issued research reports about the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Sprout Social in a research note on Thursday, January 22nd. Morgan Stanley cut their target price on Sprout Social from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 13th. Barclays reduced their target price on shares of Sprout Social from $26.00 to $13.00 and set an “overweight” rating for the company in a research note on Monday, January 12th. Finally, Canaccord Genuity Group dropped their target price on shares of Sprout Social from $25.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, November 7th. Six analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $21.91.

Sprout Social Stock Performance

Shares of Sprout Social stock opened at $8.01 on Tuesday. Sprout Social has a one year low of $7.79 and a one year high of $33.97. The firm has a market capitalization of $474.11 million, a price-to-earnings ratio of -9.89 and a beta of 0.90. The business has a 50-day simple moving average of $10.36 and a 200 day simple moving average of $12.32. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.89 and a quick ratio of 0.89.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.07. The business had revenue of $115.59 million for the quarter, compared to analyst estimates of $114.86 million. Sprout Social had a negative return on equity of 18.93% and a negative net margin of 10.59%.The company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.13 earnings per share. On average, research analysts anticipate that Sprout Social will post -0.99 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Ryan Paul Barretto purchased 93,984 shares of the company’s stock in a transaction dated Friday, January 9th. The shares were purchased at an average price of $10.67 per share, with a total value of $1,002,809.28. Following the transaction, the chief executive officer directly owned 875,256 shares of the company’s stock, valued at approximately $9,338,981.52. This represents a 12.03% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Aaron Edward Frederick Rankin acquired 90,661 shares of the company’s stock in a transaction on Wednesday, December 17th. The shares were acquired at an average cost of $11.14 per share, for a total transaction of $1,009,963.54. Following the completion of the acquisition, the director owned 114,969 shares of the company’s stock, valued at approximately $1,280,754.66. The trade was a 372.97% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 10.12% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. boosted its position in shares of Sprout Social by 78.9% in the second quarter. First Horizon Advisors Inc. now owns 1,531 shares of the company’s stock valued at $32,000 after acquiring an additional 675 shares during the period. State of Alaska Department of Revenue bought a new stake in Sprout Social during the third quarter valued at $30,000. Versant Capital Management Inc raised its holdings in shares of Sprout Social by 2,754.5% in the 3rd quarter. Versant Capital Management Inc now owns 3,511 shares of the company’s stock valued at $45,000 after acquiring an additional 3,388 shares in the last quarter. Quarry LP increased its position in shares of Sprout Social by 264.2% in the third quarter. Quarry LP now owns 3,784 shares of the company’s stock worth $49,000 after purchasing an additional 2,745 shares during the last quarter. Finally, CWM LLC lifted its position in Sprout Social by 266.3% during the second quarter. CWM LLC now owns 3,934 shares of the company’s stock valued at $82,000 after purchasing an additional 2,860 shares during the last quarter.

About Sprout Social

Sprout Social (NASDAQ: SPT) is a Chicago-based software company specializing in social media management solutions for businesses of all sizes. The company provides a cloud-based platform designed to help organizations improve their social media presence through a suite of tools for content scheduling, community engagement, social listening and analytics. Sprout Social’s platform is built to streamline the workflows of marketing, customer care and public relations teams by providing a centralized hub for managing multiple social channels.

The company’s product offerings include publishing and scheduling capabilities that allow users to plan and automate social content across networks such as Facebook, Instagram, Twitter, LinkedIn and Pinterest.