Sprout Social (NASDAQ:SPT) Price Target Cut to $23.00 by Analysts at The Goldman Sachs Group

Sprout Social (NASDAQ:SPT) had its price objective lowered by stock analysts at The Goldman Sachs Group from $29.00 to $23.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 18.19% from the company’s previous close.

Several other research analysts have also recently commented on SPT. Scotiabank lowered their target price on Sprout Social from $28.00 to $25.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. Stifel Nicolaus decreased their price target on shares of Sprout Social from $45.00 to $34.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Morgan Stanley reduced their price objective on shares of Sprout Social from $30.00 to $22.00 and set an “equal weight” rating on the stock in a report on Wednesday. Barclays decreased their price target on Sprout Social from $38.00 to $34.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Finally, Canaccord Genuity Group lowered their target price on shares of Sprout Social from $40.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Sprout Social presently has a consensus rating of “Hold” and a consensus target price of $32.77.

Sprout Social Trading Up 0.5 %

SPT traded up $0.10 on Thursday, hitting $19.46. The company had a trading volume of 189,843 shares, compared to its average volume of 750,685. 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 has a market cap of $1.12 billion, a P/E ratio of -16.21 and a beta of 1.11. The company’s fifty day moving average price is $24.96 and its 200 day moving average price is $28.76. Sprout Social has a 1 year low of $18.72 and a 1 year high of $54.40.

Sprout Social (NASDAQ:SPT) last posted its quarterly earnings data 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). Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. The company had revenue of $107.09 million for the quarter, compared to analysts’ expectations of $106.74 million. As a group, equities analysts expect that Sprout Social will post -0.99 earnings per share for the current year.

Insider Buying and Selling at Sprout Social

In related news, Director Aaron Edward Frederick Rankin sold 23,646 shares of Sprout Social stock in a transaction dated 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 owns 42,122 shares in the company, valued at approximately $1,035,358.76. This trade represents a 35.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 transaction of $1,303,600.00. Following the completion of the transaction, the insider now owns 7,417 shares in the company, 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 have sold 125,446 shares of company stock valued at $3,115,839 over the last quarter. Corporate insiders own 10.97% of the company’s stock.

Institutional Investors Weigh In On Sprout Social

Hedge funds have recently made changes to their positions in the business. ArrowMark Colorado Holdings LLC lifted its position in Sprout Social by 380.7% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,772,219 shares of the company’s stock worth $54,425,000 after buying an additional 1,403,549 shares during the period. Norges Bank purchased a new stake in Sprout Social in the fourth quarter valued at approximately $13,422,000. Dorsey Asset Management LLC raised its stake in Sprout Social by 16.7% during the fourth quarter. Dorsey Asset Management LLC now owns 2,306,149 shares of the company’s stock worth $70,822,000 after purchasing an additional 330,155 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Sprout Social by 324.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 402,947 shares of the company’s stock valued at $11,714,000 after purchasing an additional 307,906 shares during the last quarter. Finally, Cadian Capital Management LP grew its stake in shares of Sprout Social by 6.1% during the 4th quarter. Cadian Capital Management LP now owns 4,548,323 shares of the company’s stock valued at $139,679,000 after buying an additional 263,267 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.