Sprout Social (NASDAQ:SPT) Given New $29.00 Price Target at Piper Sandler

Sprout Social (NASDAQ:SPT - Free Report) had its target price cut by Piper Sandler from $40.00 to $29.00 in a research report report published on Monday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities research analysts have also issued reports on the stock. Cantor Fitzgerald restated an "overweight" rating and set a $46.00 price target on shares of Sprout Social in a report on Friday, August 2nd. Barclays decreased 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. Robert W. Baird boosted their target price on shares of Sprout Social from $38.00 to $40.00 and gave the stock a "neutral" rating in a research report on Friday, August 2nd. KeyCorp downgraded shares of Sprout Social from a "sector weight" rating to an "underweight" rating and set a $28.00 target price for the company. in a research report on Thursday, August 22nd. Finally, Oppenheimer decreased their target price on shares of Sprout Social from $43.00 to $40.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $47.08.

Sprout Social Price Performance

Shares of NASDAQ:SPT traded up $1.89 during trading on Monday, reaching $28.60. The company had a trading volume of 848,920 shares, compared to its average volume of 750,232. The firm's fifty day moving average is $28.13 and its 200 day moving average is $32.25. The firm has a market capitalization of $1.63 billion, a PE ratio of -22.26 and a beta of 0.99. Sprout Social has a twelve month low of $25.05 and a twelve month high of $68.41. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.98 and a current ratio of 0.98.

Sprout Social (NASDAQ:SPT - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.06). The company had revenue of $102.64 million during the quarter, compared to analyst estimates of $102.04 million. Sprout Social had a negative return on equity of 41.65% and a negative net margin of 17.24%. On average, equities analysts forecast that Sprout Social will post -0.9 EPS for the current year.

Insider Activity at Sprout Social

In other Sprout Social news, CEO Justyn Russell Howard sold 8,595 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $29.27, for a total transaction of $251,575.65. Following the completion of the sale, the chief executive officer now owns 302,217 shares of the company's stock, valued at approximately $8,845,891.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Preto Joseph Del sold 1,500 shares of the firm's stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $28.27, for a total transaction of $42,405.00. Following the completion of the sale, the chief financial officer now owns 158,614 shares of the company's stock, valued at $4,484,017.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Justyn Russell Howard sold 8,595 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $29.27, for a total transaction of $251,575.65. Following the sale, the chief executive officer now directly owns 302,217 shares of the company's stock, valued at approximately $8,845,891.59. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 62,882 shares of company stock worth $1,801,351 in the last quarter. 10.97% of the stock is owned by insiders.

Institutional Trading of Sprout Social

Large investors have recently modified their holdings of the stock. Quarry LP raised its stake in shares of Sprout Social by 2,346.9% during the 2nd quarter. Quarry LP now owns 783 shares of the company's stock worth $28,000 after purchasing an additional 751 shares during the period. EntryPoint Capital LLC bought a new stake in Sprout Social in the 1st quarter valued at about $37,000. Covestor Ltd grew its holdings in Sprout Social by 35,450.0% during the 1st quarter. Covestor Ltd now owns 711 shares of the company's stock valued at $42,000 after buying an additional 709 shares in the last quarter. Bessemer Group Inc. purchased a new position in Sprout Social during the 1st quarter valued at about $61,000. Finally, nVerses Capital LLC grew its holdings in Sprout Social by 76.5% during the 2nd quarter. nVerses Capital LLC now owns 3,000 shares of the company's stock valued at $107,000 after buying an additional 1,300 shares in the last quarter.

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.