Piper Sandler Lowers Sprout Social (NASDAQ:SPT) Price Target to $27.00

Sprout Social (NASDAQ:SPT) had its target price reduced by stock analysts at Piper Sandler from $29.00 to $27.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s target price would indicate a potential downside of 0.92% from the company’s current price.

Other analysts also recently issued research reports about the company. Needham & Company LLC reissued a “buy” rating and issued a $55.00 price objective on shares of Sprout Social in a report on Wednesday, January 15th. Oppenheimer cut their price target on shares of Sprout Social from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Tuesday, December 3rd. Barclays decreased their price objective on shares of Sprout Social from $38.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday. Jefferies Financial Group raised their target price on shares of Sprout Social from $34.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, Scotiabank began coverage on shares of Sprout Social in a report on Monday, November 18th. They issued a “sector perform” rating and a $28.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $39.08.

Sprout Social Trading Down 2.4 %

Sprout Social stock opened at $27.25 on Wednesday. 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 market cap of $1.56 billion, a PE ratio of -22.71 and a beta of 1.06. The stock has a 50-day moving average of $31.83 and a two-hundred day moving average of $30.55. Sprout Social has a one year low of $25.05 and a one year high of $65.32.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.15 by ($0.35). Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. On average, research analysts anticipate that Sprout Social will post -0.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Ryan Paul Barretto sold 13,465 shares of the firm’s stock in a transaction that occurred 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 owns 546,343 shares in the company, valued at $17,182,487.35. This trade represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Justyn Russell Howard sold 40,000 shares of Sprout Social stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $32.59, for a total transaction of $1,303,600.00. Following the sale, the insider now directly owns 7,417 shares in the company, valued at approximately $241,720.03. This trade represents a 84.36 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 120,265 shares of company stock worth $3,837,006. 10.97% of the stock is owned by corporate insiders.

Institutional Trading of Sprout Social

A number of hedge funds and other institutional investors have recently modified their holdings of SPT. Vanguard Group Inc. increased its stake in Sprout Social by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 5,886,167 shares of the company’s stock worth $180,764,000 after acquiring an additional 141,141 shares during the last quarter. Cadian Capital Management LP boosted its stake in shares of Sprout Social by 6.1% in the 4th quarter. Cadian Capital Management LP now owns 4,548,323 shares of the company’s stock valued at $139,679,000 after buying an additional 263,267 shares during the period. Wellington Management Group LLP grew its position in shares of Sprout Social by 16.0% during the third quarter. Wellington Management Group LLP now owns 3,762,443 shares of the company’s stock worth $109,374,000 after buying an additional 519,406 shares in the last quarter. Dorsey Asset Management LLC increased its stake in shares of Sprout Social by 16.7% during the fourth quarter. Dorsey Asset Management LLC now owns 2,306,149 shares of the company’s stock worth $70,822,000 after buying an additional 330,155 shares during the period. Finally, Jennison Associates LLC raised its holdings in Sprout Social by 0.3% in the fourth quarter. Jennison Associates LLC now owns 2,171,567 shares of the company’s stock valued at $66,689,000 after acquiring an additional 7,311 shares in the last quarter.

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.