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

Sprout Social (NASDAQ:SPT) had its price objective reduced by equities research analysts at The Goldman Sachs Group from $34.00 to $29.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 5.05% from the stock’s previous close.

A number of other equities analysts have also weighed in on SPT. Oppenheimer decreased their price objective on shares of Sprout Social from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Tuesday, December 3rd. Barclays decreased their price target on shares of Sprout Social from $38.00 to $34.00 and set an “overweight” rating on the stock in a research report on Wednesday. Needham & Company LLC decreased 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. Jefferies Financial Group upped their price objective on shares of Sprout Social from $34.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Finally, Morgan Stanley decreased their target price on Sprout Social from $37.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $35.23.

Sprout Social Stock Performance

Shares of SPT stock traded up $0.36 on Wednesday, hitting $27.61. The company’s stock had a trading volume of 499,915 shares, compared to its average volume of 550,283. The stock’s 50 day moving average is $31.83 and its 200-day moving average is $30.55. Sprout Social has a fifty-two week low of $25.05 and a fifty-two week high of $64.91. The company has a market capitalization of $1.58 billion, a PE ratio of -22.90 and a beta of 1.06. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96.

Sprout Social (NASDAQ:SPT) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.20) EPS 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 during the quarter, compared to the consensus estimate of $106.74 million. Equities research analysts expect that Sprout Social will post -0.99 earnings per share for the current fiscal year.

Insider Transactions at Sprout Social

In other news, Director Karen Walker sold 5,000 shares of Sprout Social stock in a transaction on Friday, December 13th. The stock was sold at an average price of $34.24, for a total transaction of $171,200.00. Following the transaction, the director now directly owns 35,665 shares in the company, valued at approximately $1,221,169.60. This trade represents a 12.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Justyn Russell Howard sold 40,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $31.67, for a total transaction of $1,266,800.00. Following the sale, the insider now directly owns 27,136 shares of the company’s stock, valued at approximately $859,397.12. This represents a 59.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 120,265 shares of company stock valued at $3,837,006. 10.97% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Woodline Partners LP bought a new stake in shares of Sprout Social in the fourth quarter valued at about $233,000. Two Sigma Advisers LP raised its holdings in shares of Sprout Social by 96.4% in the 4th quarter. Two Sigma Advisers LP now owns 110,600 shares of the company’s stock worth $3,397,000 after buying an additional 54,300 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Sprout Social by 49.9% during the 4th quarter. ProShare Advisors LLC now owns 14,459 shares of the company’s stock worth $444,000 after buying an additional 4,811 shares during the period. Nuveen Asset Management LLC raised its stake in Sprout Social by 110.7% during the fourth quarter. Nuveen Asset Management LLC now owns 454,162 shares of the company’s stock worth $13,947,000 after acquiring an additional 238,650 shares in the last quarter. Finally, Lazard Asset Management LLC grew its position in Sprout Social by 44.3% during the 4th quarter. Lazard Asset Management LLC now owns 62,176 shares of the company’s stock worth $1,909,000 after acquiring an additional 19,098 shares during 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.