Barclays Lowers Sprout Social (NASDAQ:SPT) Price Target to $34.00

Sprout Social (NASDAQ:SPT) had its price objective dropped by research analysts at Barclays from $38.00 to $34.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 24.77% from the stock’s previous close.

SPT has been the topic of several other reports. Jefferies Financial Group lifted their target price on Sprout Social from $34.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Oppenheimer decreased their price target on Sprout Social from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Tuesday, December 3rd. Morgan Stanley increased their target price on Sprout Social from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Needham & Company LLC reiterated a “buy” rating and issued a $55.00 price target on shares of Sprout Social in a report on Wednesday, January 15th. Finally, Scotiabank started coverage on shares of Sprout Social in a research report on Monday, November 18th. They set a “sector perform” rating and a $28.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $39.25.

Sprout Social Trading Down 2.4 %

Shares of SPT opened at $27.25 on Wednesday. The stock has a market capitalization of $1.56 billion, a P/E ratio of -22.71 and a beta of 1.06. Sprout Social has a twelve month low of $25.05 and a twelve month high of $65.32. The firm has a fifty day simple moving average of $31.83 and a two-hundred day simple moving average of $30.55. 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 (NASDAQ:SPT) last issued its quarterly 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). Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. On average, research analysts anticipate that Sprout Social will post -0.99 EPS for the current year.

Insider Activity

In other news, CEO Ryan Paul Barretto sold 13,465 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $31.45, for a total transaction of $423,474.25. Following the completion of the transaction, the chief executive officer now directly owns 546,343 shares of the company’s stock, valued at approximately $17,182,487.35. This represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Karen Walker sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $30.26, for a total value of $151,300.00. Following the completion of the sale, the director now directly owns 30,665 shares in the company, valued at approximately $927,922.90. This trade represents a 14.02 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 120,265 shares of company stock worth $3,837,006. 10.97% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sprout Social

Several large investors have recently added to or reduced their stakes in SPT. ArrowMark Colorado Holdings LLC boosted its stake in Sprout Social by 380.7% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,772,219 shares of the company’s stock valued at $54,425,000 after purchasing an additional 1,403,549 shares during the period. Wellington Management Group LLP boosted its position in shares of Sprout Social by 16.0% during the third quarter. Wellington Management Group LLP now owns 3,762,443 shares of the company’s stock worth $109,374,000 after buying an additional 519,406 shares during the period. Norges Bank bought a new position in Sprout Social in the 4th quarter worth approximately $13,422,000. Dorsey Asset Management LLC boosted its position in Sprout Social by 16.7% during the 4th quarter. Dorsey Asset Management LLC now owns 2,306,149 shares of the company’s stock worth $70,822,000 after acquiring an additional 330,155 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Sprout Social by 324.0% in the third quarter. JPMorgan Chase & Co. now owns 402,947 shares of the company’s stock worth $11,714,000 after purchasing an additional 307,906 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.