Sprout Social (NASDAQ:SPT) Price Target Lowered to $22.00 at Morgan Stanley

Sprout Social (NASDAQ:SPT - Get Free Report) had its price target decreased by equities research analysts at Morgan Stanley from $30.00 to $22.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Morgan Stanley's target price points to a potential upside of 16.53% from the company's current price.

Other research analysts have also issued research reports about the company. Jefferies Financial Group boosted their price objective on Sprout Social from $34.00 to $42.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. The Goldman Sachs Group reduced their target price on shares of Sprout Social from $34.00 to $29.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. Canaccord Genuity Group lowered their target price on Sprout Social from $40.00 to $35.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. Needham & Company LLC reduced their price target on shares of Sprout Social from $55.00 to $32.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. Finally, Barclays cut their price objective on Sprout Social from $38.00 to $34.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. One 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's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $32.15.

Sprout Social Stock Down 3.9 %

Shares of SPT traded down $0.76 during trading on Wednesday, reaching $18.88. The company's stock had a trading volume of 728,401 shares, compared to its average volume of 751,771. The company has a market cap of $1.09 billion, a price-to-earnings ratio of -15.73 and a beta of 1.11. The company has a fifty day moving average of $24.42 and a two-hundred day moving average of $28.64. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. Sprout Social has a twelve month low of $18.55 and a twelve month high of $53.96.

Sprout Social (NASDAQ:SPT - Get Free Report) last released 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). The company had revenue of $107.09 million during the quarter, compared to the consensus estimate of $106.74 million. Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. On average, sell-side analysts predict that Sprout Social will post -0.99 EPS for the current fiscal year.

Insider Activity at Sprout Social

In related news, Director Aaron Edward Frederick Rankin sold 23,646 shares of Sprout Social stock in a transaction on Monday, March 17th. The stock was sold at an average price of $24.58, for a total transaction of $581,218.68. Following the completion of the sale, the director now directly owns 42,122 shares of the company's stock, valued at $1,035,358.76. The trade was a 35.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Justyn Russell Howard sold 40,000 shares of the company's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $32.59, for a total value of $1,303,600.00. Following the completion of the sale, the insider now directly owns 7,417 shares of the company's stock, valued at approximately $241,720.03. This trade represents a 84.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 125,446 shares of company stock valued at $3,115,839 in the last ninety days. Insiders own 10.97% of the company's stock.

Institutional Investors Weigh In On Sprout Social

Several hedge funds have recently bought and sold shares of the company. Versant Capital Management Inc raised its stake in Sprout Social by 1,319.4% during the 1st quarter. Versant Capital Management Inc now owns 1,462 shares of the company's stock worth $32,000 after buying an additional 1,359 shares during the period. US Bancorp DE increased its stake in Sprout Social by 2,392.6% during the 4th quarter. US Bancorp DE now owns 1,695 shares of the company's stock worth $52,000 after purchasing an additional 1,627 shares in the last quarter. KBC Group NV lifted its stake in Sprout Social by 77.1% in the fourth 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 in the last quarter. Yarbrough Capital LLC acquired a new position in shares of Sprout Social in the fourth quarter valued at approximately $206,000. Finally, Woodline Partners LP acquired a new stake in shares of Sprout Social during the fourth quarter worth $233,000.

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.