Sprout Social (NASDAQ:SPT) Price Target Lowered to $25.00 at Scotiabank

Sprout Social (NASDAQ:SPT) had its price objective cut by Scotiabank from $28.00 to $25.00 in a research note published on Thursday morning,Benzinga reports. They currently have a sector perform rating on the stock.

A number of other equities analysts have also weighed in on SPT. Barclays lowered their price objective on Sprout Social from $38.00 to $34.00 and set an “overweight” rating on the stock in a research note on Wednesday. Jefferies Financial Group boosted their price objective on Sprout Social from $34.00 to $42.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Needham & Company LLC cut their price target on Sprout Social from $55.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday. Piper Sandler cut their price target on Sprout Social from $29.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Oppenheimer dropped their price objective on Sprout Social from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $33.85.

Sprout Social Stock Down 2.6 %

Shares of SPT opened at $27.35 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96. Sprout Social has a one year low of $25.05 and a one year high of $64.91. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of -22.79 and a beta of 1.06. The stock has a 50 day moving average price of $31.63 and a 200 day moving average price of $30.52.

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

Insider Activity

In other Sprout Social news, Director Karen Walker sold 5,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $34.24, for a total transaction of $171,200.00. Following the completion of the transaction, the director now owns 35,665 shares of the company’s stock, valued at approximately $1,221,169.60. This trade represents a 12.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ryan Paul Barretto sold 13,465 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $31.45, for a total value of $423,474.25. Following the transaction, the chief executive officer now directly owns 546,343 shares of the company’s stock, valued at $17,182,487.35. The trade was a 2.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 120,265 shares of company stock valued at $3,837,006 in the last three months. 10.97% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sprout Social

Hedge funds have recently bought and sold shares of the stock. Quarry LP boosted its holdings in shares of Sprout Social by 100.9% during the third quarter. Quarry LP now owns 1,573 shares of the company’s stock worth $46,000 after purchasing an additional 790 shares during the last quarter. US Bancorp DE lifted its stake in shares of Sprout Social by 2,392.6% during the fourth quarter. US Bancorp DE now owns 1,695 shares of the company’s stock worth $52,000 after purchasing an additional 1,627 shares in the last quarter. KBC Group NV lifted its stake in shares of Sprout Social by 77.1% during the fourth quarter. KBC Group NV now owns 2,525 shares of the company’s stock worth $78,000 after purchasing an additional 1,099 shares in the last quarter. Assetmark Inc. lifted its stake in shares of Sprout Social by 27.5% during the third quarter. Assetmark Inc. now owns 3,717 shares of the company’s stock worth $108,000 after purchasing an additional 801 shares in the last quarter. Finally, Yarbrough Capital LLC purchased a new stake in shares of Sprout Social during the fourth quarter worth about $206,000.

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.