Sprout Social (NASDAQ:SPT) PT Lowered to $40.00 at Oppenheimer

Sprout Social (NASDAQ:SPT - Free Report) had its price target reduced by Oppenheimer from $43.00 to $40.00 in a report released on Thursday, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Other equities analysts have also recently issued reports about the company. Robert W. Baird increased their target price on Sprout Social from $38.00 to $40.00 and gave the stock a "neutral" rating in a report on Friday, August 2nd. KeyCorp cut Sprout Social from a "sector weight" rating to an "underweight" rating and set a $28.00 price target on the stock. in a research report on Thursday, August 22nd. Cantor Fitzgerald reissued an "overweight" rating and set a $46.00 price objective on shares of Sprout Social in a report on Friday, August 2nd. Needham & Company LLC reaffirmed a "buy" rating and issued a $55.00 target price on shares of Sprout Social in a report on Friday, August 2nd. Finally, Barclays dropped their target price on shares of Sprout Social from $48.00 to $38.00 and set an "overweight" rating for the company in a research report on Friday, October 11th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, Sprout Social presently has a consensus rating of "Hold" and an average target price of $48.00.

Sprout Social Stock Performance

SPT stock traded up $0.28 during midday trading on Thursday, hitting $27.33. The stock had a trading volume of 418,241 shares, compared to its average volume of 757,872. Sprout Social has a 52 week low of $25.05 and a 52 week high of $68.41. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.26. The stock has a 50-day simple moving average of $29.35 and a 200 day simple moving average of $34.63. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of -21.14 and a beta of 0.97.

Sprout Social (NASDAQ:SPT - Get Free Report) last issued its earnings results on Thursday, August 1st. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.01. The business had revenue of $99.40 million for the quarter, compared to analyst estimates of $98.70 million. Sprout Social had a negative net margin of 19.60% and a negative return on equity of 44.38%. The firm's revenue was up 25.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.23) EPS. As a group, equities research analysts anticipate that Sprout Social will post -0.9 earnings per share for the current year.

Insider Buying and Selling

In other Sprout Social news, insider Justyn Russell Howard sold 20,000 shares of the business's stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $28.23, for a total transaction of $564,600.00. Following the transaction, the insider now owns 7,417 shares of the company's stock, valued at $209,381.91. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Sprout Social news, insider Justyn Russell Howard sold 20,000 shares of the business's stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $28.23, for a total transaction of $564,600.00. Following the sale, the insider now directly owns 7,417 shares of the company's stock, valued at $209,381.91. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ryan Paul Barretto sold 16,800 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $28.25, for a total value of $474,600.00. Following the completion of the sale, the chief executive officer now directly owns 170,175 shares of the company's stock, valued at approximately $4,807,443.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 87,882 shares of company stock worth $2,570,471. 10.97% of the stock is owned by insiders.

Institutional Investors Weigh In On Sprout Social

Several large investors have recently modified their holdings of SPT. Dorsey Asset Management LLC bought a new stake in shares of Sprout Social in the 2nd quarter valued at $61,583,000. Jericho Capital Asset Management L.P. purchased a new position in Sprout Social in the first quarter valued at about $22,332,000. Allspring Global Investments Holdings LLC grew its position in shares of Sprout Social by 98.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 664,970 shares of the company's stock valued at $23,726,000 after acquiring an additional 330,309 shares during the period. Millennium Management LLC increased its stake in shares of Sprout Social by 9,779.5% during the 2nd quarter. Millennium Management LLC now owns 331,260 shares of the company's stock worth $11,819,000 after purchasing an additional 327,907 shares during the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Sprout Social by 17.0% in the 1st quarter. Jennison Associates LLC now owns 2,137,422 shares of the company's stock worth $127,625,000 after purchasing an additional 311,146 shares during the period.

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.