The Goldman Sachs Group Has Lowered Expectations for Sprout Social (NASDAQ:SPT) Stock Price

Sprout Social (NASDAQ:SPT) had its price objective cut by investment analysts at The Goldman Sachs Group from $34.00 to $29.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price suggests a potential upside of 5.05% from the stock’s current price.

SPT has been the topic of a number of other research reports. Scotiabank assumed coverage on Sprout Social in a research note on Monday, November 18th. They issued a “sector perform” rating and a $28.00 target price on the stock. Oppenheimer decreased their price target on Sprout Social from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Tuesday, December 3rd. Barclays decreased their price target on shares of Sprout Social from $38.00 to $34.00 and set an “overweight” rating on the stock in a research report on Wednesday. Jefferies Financial Group boosted their price objective on Sprout Social from $34.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, Needham & Company LLC lowered their price objective on shares of Sprout Social from $55.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $35.23.

Sprout Social Stock Up 1.3 %

Shares of Sprout Social stock traded up $0.36 during trading on Wednesday, hitting $27.61. 499,915 shares of the stock traded hands, compared to its average volume of 550,283. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19. The firm has a market cap of $1.58 billion, a P/E ratio of -22.90 and a beta of 1.06. The stock’s fifty day simple moving average is $31.83 and its 200 day simple moving average is $30.55. Sprout Social has a 52-week low of $25.05 and a 52-week high of $64.91.

Sprout Social (NASDAQ:SPT) last issued its earnings results on Tuesday, February 25th. The company reported ($0.20) earnings per share 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%. The firm had revenue of $107.09 million during the quarter, compared to analyst estimates of $106.74 million. On average, equities analysts predict that Sprout Social will post -0.99 earnings per share for the current fiscal year.

Insider Transactions at Sprout Social

In other news, CEO Ryan Paul Barretto sold 13,465 shares of the 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 sale, the chief executive officer now directly owns 546,343 shares in the company, valued at approximately $17,182,487.35. This trade represents a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Karen Walker sold 5,000 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $34.24, for a total value of $171,200.00. Following the transaction, the director now directly owns 35,665 shares of the company’s stock, valued at approximately $1,221,169.60. This represents a 12.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 120,265 shares of company stock valued at $3,837,006. 10.97% of the stock is currently owned by corporate insiders.

Institutional Trading of Sprout Social

A number of institutional investors have recently bought and sold shares of the business. ArrowMark Colorado Holdings LLC grew its position in shares of Sprout Social by 380.7% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,772,219 shares of the company’s stock valued at $54,425,000 after buying an additional 1,403,549 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Sprout Social by 16.0% during the 3rd quarter. Wellington Management Group LLP now owns 3,762,443 shares of the company’s stock valued at $109,374,000 after buying an additional 519,406 shares during the last quarter. Norges Bank bought a new position in Sprout Social during the 4th quarter worth $13,422,000. Dorsey Asset Management LLC grew its holdings in 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 acquiring an additional 330,155 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Sprout Social by 324.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 402,947 shares of the company’s stock valued at $11,714,000 after buying an additional 307,906 shares during the period.

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.