Sprout Social (NASDAQ:SPT) PT Lowered to $38.00 at Robert W. Baird

Sprout Social (NASDAQ:SPT) had its target price cut by stock analysts at Robert W. Baird from $45.00 to $38.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s price target would indicate a potential upside of 14.94% from the stock’s previous close.

Several other research firms have also issued reports on SPT. The Goldman Sachs Group lowered shares of Sprout Social from a “buy” rating to a “neutral” rating and lowered their price target for the company from $80.00 to $44.00 in a research report on Friday, May 3rd. Barclays dropped their target price on Sprout Social from $72.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Cantor Fitzgerald cut their target price on Sprout Social from $74.00 to $46.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. Needham & Company LLC reiterated a “buy” rating and set a $55.00 price target on shares of Sprout Social in a research report on Friday, June 7th. Finally, Morgan Stanley cut their price objective on shares of Sprout Social from $65.00 to $49.00 and set an “equal weight” rating for the company in a research report on Friday, May 3rd. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $56.57.

Sprout Social Trading Up 1.9 %

NASDAQ SPT opened at $33.06 on Thursday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $1.87 billion, a P/E ratio of -26.45 and a beta of 0.99. The business has a fifty day simple moving average of $36.09 and a 200 day simple moving average of $51.79. Sprout Social has a 12 month low of $25.68 and a 12 month high of $68.41.

Sprout Social (NASDAQ:SPT) last released its earnings results on Thursday, May 2nd. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.10. Sprout Social had a negative return on equity of 42.51% and a negative net margin of 19.64%. The company had revenue of $96.78 million during the quarter, compared to analyst estimates of $97.29 million. On average, analysts predict that Sprout Social will post -0.84 EPS for the current fiscal year.

Insider Transactions at Sprout Social

In other Sprout Social news, CEO Justyn Russell Howard sold 20,000 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $34.05, for a total transaction of $681,000.00. Following the completion of the sale, the chief executive officer now directly owns 398,229 shares in the company, valued at approximately $13,559,697.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Sprout Social news, Director Aaron Edward Frederick Rankin sold 1,184 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $32.14, for a total value of $38,053.76. Following the completion of the transaction, the director now directly owns 43,303 shares in the company, valued at approximately $1,391,758.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Justyn Russell Howard sold 20,000 shares of Sprout Social stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $34.05, for a total value of $681,000.00. Following the completion of the sale, the chief executive officer now directly owns 398,229 shares in the company, valued at $13,559,697.45. The disclosure for this sale can be found here. Over the last three months, insiders have sold 108,870 shares of company stock valued at $4,673,003. Insiders own 10.97% of the company’s stock.

Institutional Trading of Sprout Social

A number of large investors have recently made changes to their positions in SPT. Fidelis Capital Partners LLC bought a new position in Sprout Social during the first quarter valued at $27,000. EntryPoint Capital LLC purchased a new stake in Sprout Social in the 1st quarter worth about $37,000. Covestor Ltd boosted its position in shares of Sprout Social by 35,450.0% during the first quarter. Covestor Ltd now owns 711 shares of the company’s stock valued at $42,000 after buying an additional 709 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in shares of Sprout Social in the third quarter worth approximately $47,000. Finally, Bessemer Group Inc. purchased a new position in Sprout Social during the 1st quarter valued at $61,000.

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.