Morgan Stanley Lowers Sprout Social (NASDAQ:SPT) Price Target to $30.00

Sprout Social (NASDAQ:SPT) had its price target lowered by equities research analysts at Morgan Stanley from $37.00 to $30.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 9.77% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Stifel Nicolaus cut their price target on shares of Sprout Social from $45.00 to $34.00 and set a “buy” rating for the company in a research note on Wednesday. Piper Sandler lowered their target price on shares of Sprout Social from $29.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday. Needham & Company LLC reduced 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. Oppenheimer decreased their target price on Sprout Social from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 3rd. Finally, Barclays lowered their price target on shares of Sprout Social from $38.00 to $34.00 and set an “overweight” rating for the company in a report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $36.38.

Sprout Social Trading Up 0.3 %

Shares of SPT stock traded up $0.08 on Wednesday, hitting $27.33. The stock had a trading volume of 366,854 shares, compared to its average volume of 546,552. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19. Sprout Social has a twelve month low of $25.05 and a twelve month high of $64.91. The company has a fifty day moving average price of $31.83 and a two-hundred day moving average price of $30.55. The firm has a market cap of $1.57 billion, a P/E ratio of -22.74 and a beta of 1.06.

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

Insider Transactions at Sprout Social

In other Sprout Social news, insider Justyn Russell Howard sold 40,000 shares of Sprout Social stock in a transaction that occurred 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 sale, the insider now directly owns 7,417 shares in the company, valued at $241,720.03. The trade was a 84.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Paul Barretto sold 13,465 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were 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 in the company, valued at approximately $17,182,487.35. This represents a 2.41 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 120,265 shares of company stock worth $3,837,006. Insiders own 10.97% of the company’s stock.

Institutional Investors Weigh In On Sprout Social

Institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP grew its position in shares of Sprout Social by 100.9% in the 3rd quarter. Quarry LP now owns 1,573 shares of the company’s stock valued at $46,000 after purchasing an additional 790 shares during the period. US Bancorp DE raised its stake in Sprout Social by 2,392.6% in the 4th 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 increased its stake in Sprout Social by 77.1% in the fourth quarter. KBC Group NV now owns 2,525 shares of the company’s stock valued at $78,000 after acquiring an additional 1,099 shares during the last quarter. Assetmark Inc. increased its holdings in Sprout Social by 27.5% in the 3rd 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 acquired a new stake in Sprout Social in the fourth quarter valued at $206,000.

Sprout Social Company Profile

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.