Sprout Social (NASDAQ:SPT) Given New $34.00 Price Target at Barclays

Sprout Social (NASDAQ:SPT) had its price target decreased by analysts at Barclays from $38.00 to $34.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 24.31% from the company’s current price.

Several other equities analysts have also recently issued reports on SPT. Oppenheimer decreased their price target on Sprout Social from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Tuesday, December 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 target price on shares of Sprout Social in a research note on Wednesday, January 15th. Jefferies Financial Group boosted their price target on shares of Sprout Social from $34.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Morgan Stanley increased their price objective on shares of Sprout Social from $36.00 to $37.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Finally, Piper Sandler lowered their target price on shares of Sprout Social from $40.00 to $29.00 and set a “neutral” rating for the company in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Sprout Social currently has an average rating of “Hold” and a consensus target price of $33.85.

Sprout Social Price Performance

Shares of SPT stock opened at $27.35 on Wednesday. Sprout Social has a 1 year low of $25.05 and a 1 year high of $64.91. 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’s 50 day moving average is $31.63 and its 200-day moving average is $30.52. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of -22.79 and a beta of 1.06.

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 the consensus estimate 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%. Sell-side analysts forecast that Sprout Social will post -0.99 EPS for the current fiscal year.

Insider Activity at Sprout Social

In related news, insider Justyn Russell Howard sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $31.67, for a total value of $1,266,800.00. Following the completion of the transaction, the insider now directly owns 27,136 shares in the company, valued at approximately $859,397.12. The trade was a 59.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Karen Walker sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $30.26, for a total transaction of $151,300.00. Following the sale, the director now owns 30,665 shares in the company, valued at $927,922.90. This trade represents a 14.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 120,265 shares of company stock worth $3,837,006 in the last quarter. Corporate insiders own 10.97% of the company’s stock.

Institutional Investors Weigh In On Sprout Social

Several institutional investors have recently added to or reduced their stakes in SPT. Quarry LP raised its stake 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 grew its holdings in shares of Sprout Social by 2,392.6% during the fourth quarter. US Bancorp DE now owns 1,695 shares of the company’s stock worth $52,000 after buying an additional 1,627 shares in the last quarter. KBC Group NV raised its position in Sprout Social by 77.1% in the 4th quarter. KBC Group NV now owns 2,525 shares of the company’s stock valued at $78,000 after buying an additional 1,099 shares during the last quarter. Assetmark Inc. lifted its stake in Sprout Social by 27.5% in the 3rd quarter. Assetmark Inc. now owns 3,717 shares of the company’s stock valued at $108,000 after acquiring an additional 801 shares in the last quarter. Finally, Yarbrough Capital LLC bought a new stake in Sprout Social in the 4th quarter valued at approximately $206,000.

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.