Sprout Social (NASDAQ:SPT) Price Target Lowered to $29.00 at The Goldman Sachs Group

Sprout Social (NASDAQ:SPT - Get Free Report) had its target price decreased by research analysts at The Goldman Sachs Group from $34.00 to $29.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a "neutral" rating on the stock. The Goldman Sachs Group's price objective indicates a potential upside of 9.35% from the company's previous close.

SPT has been the topic of several other reports. Piper Sandler reduced their target price on Sprout Social from $29.00 to $27.00 and set a "neutral" rating on the stock in a research note on Wednesday. Oppenheimer reduced their price target on Sprout Social from $40.00 to $38.00 and set an "outperform" rating on the stock in a research note on Tuesday, December 3rd. Jefferies Financial Group upped their price target on Sprout Social from $34.00 to $42.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Barclays reduced their price target on Sprout Social from $38.00 to $34.00 and set an "overweight" rating on the stock in a research note on Wednesday. Finally, Needham & Company LLC dropped their target price on Sprout Social from $55.00 to $32.00 and set a "buy" rating on the stock in a report on Wednesday. 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. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $33.85.

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Sprout Social Price Performance

Shares of SPT traded down $0.83 during trading hours on Wednesday, reaching $26.52. 910,023 shares of the company's stock traded hands, compared to its average volume of 588,031. The stock has a market cap of $1.52 billion, a PE ratio of -22.10 and a beta of 1.06. 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 simple moving average is $31.51 and its 200-day simple moving average is $30.47. Sprout Social has a 12 month low of $25.05 and a 12 month high of $64.91.

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 analysts' consensus estimates of $0.15 by ($0.35). The firm 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%. Equities analysts expect that Sprout Social will post -0.99 EPS for the current year.

Insider Buying and Selling at Sprout Social

In other Sprout Social news, insider Justyn Russell Howard sold 40,000 shares of the company's stock in a transaction dated 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 sale, the insider now owns 27,136 shares in the company, valued at $859,397.12. This represents a 59.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Karen Walker sold 5,000 shares of the company's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $34.24, for a total value of $171,200.00. Following the completion of the sale, the director now owns 35,665 shares of the company's stock, valued at approximately $1,221,169.60. The trade was a 12.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 120,265 shares of company stock valued at $3,837,006. 10.97% of the stock is owned by company insiders.

Institutional Trading of Sprout Social

A number of hedge funds and other institutional investors have recently bought and sold shares of SPT. Stifel Financial Corp grew its position in shares of Sprout Social by 0.4% during the fourth quarter. Stifel Financial Corp now owns 83,141 shares of the company's stock worth $2,553,000 after purchasing an additional 351 shares in the last quarter. Invesco Ltd. grew its position in shares of Sprout Social by 1.8% during the fourth quarter. Invesco Ltd. now owns 22,861 shares of the company's stock worth $702,000 after purchasing an additional 397 shares in the last quarter. Quarry LP grew its position in shares of Sprout Social by 100.9% during the third quarter. Quarry LP now owns 1,573 shares of the company's stock worth $46,000 after purchasing an additional 790 shares in the last quarter. Assetmark Inc. grew its position in shares of Sprout Social by 27.5% during the third quarter. Assetmark Inc. now owns 3,717 shares of the company's stock worth $108,000 after purchasing an additional 801 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Sprout Social by 5.4% during the third quarter. Franklin Resources Inc. now owns 20,256 shares of the company's stock worth $576,000 after purchasing an additional 1,034 shares in the last quarter.

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.