Barclays Trims Sprout Social (NASDAQ:SPT) Target Price to $50.00

Sprout Social (NASDAQ:SPT) had its price target reduced by Barclays from $72.00 to $50.00 in a report issued on Friday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other research firms have also weighed in on SPT. BTIG Research lowered shares of Sprout Social from a buy rating to a neutral rating in a research note on Friday. Robert W. Baird lowered shares of Sprout Social from an outperform rating to a neutral rating and reduced their price objective for the company from $72.00 to $45.00 in a research note on Friday. KeyCorp lowered shares of Sprout Social from an overweight rating to a sector weight rating in a research note on Friday. The Goldman Sachs Group lowered shares of Sprout Social from a buy rating to a neutral rating and reduced their price objective for the company from $80.00 to $44.00 in a research note on Friday. Finally, Cantor Fitzgerald reduced their price objective on shares of Sprout Social from $74.00 to $46.00 and set an overweight rating for the company in a research note on Friday. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $57.07.

Sprout Social Trading Down 1.1 %

NASDAQ:SPT opened at $28.50 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $1.60 billion, a PE ratio of -23.06 and a beta of 1.09. The firm’s 50 day moving average is $55.98 and its 200 day moving average is $56.80. Sprout Social has a 12 month low of $27.85 and a 12 month high of $68.41.

Sprout Social (NASDAQ:SPT) last posted its quarterly earnings results on Tuesday, February 20th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). The company had revenue of $93.58 million during the quarter, compared to the consensus estimate of $90.76 million. Sprout Social had a negative return on equity of 42.60% and a negative net margin of 19.64%. Sell-side analysts expect that Sprout Social will post -1.17 earnings per share for the current year.

Insider Transactions at Sprout Social

In related news, CEO Justyn Russell Howard sold 40,000 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $58.36, for a total transaction of $2,334,400.00. Following the completion of the transaction, the chief executive officer now owns 287,912 shares in the company, valued at $16,802,544.32. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Preto Joseph Del sold 1,500 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $59.63, for a total value of $89,445.00. Following the sale, the chief financial officer now owns 172,644 shares of the company’s stock, valued at $10,294,761.72. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Justyn Russell Howard sold 40,000 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $58.36, for a total transaction of $2,334,400.00. Following the completion of the transaction, the chief executive officer now directly owns 287,912 shares in the company, valued at approximately $16,802,544.32. The disclosure for this sale can be found here. Insiders have sold 89,100 shares of company stock worth $5,126,065 in the last quarter. Company insiders own 10.97% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Atria Wealth Solutions Inc. boosted its holdings in shares of Sprout Social by 4.7% in the 3rd quarter. Atria Wealth Solutions Inc. now owns 4,654 shares of the company’s stock valued at $232,000 after buying an additional 208 shares in the last quarter. Verdence Capital Advisors LLC raised its position in Sprout Social by 3.2% during the 4th quarter. Verdence Capital Advisors LLC now owns 7,345 shares of the company’s stock worth $451,000 after buying an additional 225 shares during the last quarter. Arcadia Investment Management Corp MI raised its position in Sprout Social by 36.7% during the 4th quarter. Arcadia Investment Management Corp MI now owns 1,047 shares of the company’s stock worth $64,000 after buying an additional 281 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Sprout Social by 14.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,500 shares of the company’s stock worth $125,000 after buying an additional 323 shares during the last quarter. Finally, Fidelis Capital Partners LLC acquired a new position in shares of Sprout Social in the 1st quarter valued at $27,000.

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.