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

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

A number of other equities research analysts have also recently weighed in on SPT. Canaccord Genuity Group cut their price objective on shares of Sprout Social from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. 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 research note on Wednesday, February 26th. Barclays reduced their price objective on Sprout Social from $38.00 to $34.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Needham & Company LLC dropped their target price on Sprout Social from $55.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Finally, Jefferies Financial Group raised their price target on Sprout Social from $34.00 to $42.00 and gave the company a “buy” rating in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $32.77.

Sprout Social Stock Up 1.4 %

Shares of NASDAQ:SPT opened at $19.64 on Thursday. The firm has a market capitalization of $1.13 billion, a P/E ratio of -16.37 and a beta of 1.11. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a 50 day moving average price of $24.69 and a 200-day moving average price of $28.70. Sprout Social has a 52-week low of $18.72 and a 52-week high of $54.40.

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

Insider Buying and Selling at Sprout Social

In other news, insider Justyn Russell Howard sold 40,000 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $32.59, for a total value of $1,303,600.00. Following the transaction, the insider now directly owns 7,417 shares in the company, valued at $241,720.03. This trade represents a 84.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Aaron Edward Frederick Rankin sold 23,646 shares of Sprout Social stock in a transaction on Monday, March 17th. The stock was sold at an average price of $24.58, for a total value of $581,218.68. Following the completion of the sale, the director now directly owns 42,122 shares of the company’s stock, valued at $1,035,358.76. The trade was a 35.95 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 125,446 shares of company stock worth $3,115,839. Company insiders own 10.97% of the company’s stock.

Hedge Funds Weigh In On Sprout Social

Several institutional investors have recently made changes to their positions in the business. Harbor Capital Advisors Inc. grew its position in 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 buying an additional 2,955 shares during the period. Rhumbline Advisers boosted 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 worth $1,693,000 after acquiring an additional 6,774 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Sprout Social by 19,500.0% during the 1st quarter. GAMMA Investing LLC now owns 9,016 shares of the company’s stock valued at $198,000 after acquiring an additional 8,970 shares during the period. Versant Capital Management Inc increased its stake in shares of Sprout Social by 1,319.4% in the 1st quarter. Versant Capital Management Inc now owns 1,462 shares of the company’s stock worth $32,000 after purchasing an additional 1,359 shares in the last quarter. Finally, Jefferies Financial Group Inc. bought a new position in Sprout Social in the 4th quarter worth $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.