The Goldman Sachs Group Lowers Sprout Social (NASDAQ:SPT) Price Target to $21.00

Sprout Social (NASDAQ:SPT) had its target price dropped by investment analysts at The Goldman Sachs Group from $24.00 to $21.00 in a report issued on Thursday, Marketbeat Ratings reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential upside of 50.65% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Morgan Stanley decreased their price objective on shares of Sprout Social from $30.00 to $22.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Oppenheimer decreased their target price on shares of Sprout Social from $32.00 to $23.00 and set an “outperform” rating for the company in a research note on Thursday. Needham & Company LLC reiterated a “buy” rating and set a $32.00 target price on shares of Sprout Social in a research note on Wednesday, May 28th. Barclays decreased their target price on shares of Sprout Social from $34.00 to $26.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $24.00 target price on shares of Sprout Social in a research note on Tuesday, June 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Sprout Social currently has an average rating of “Hold” and an average target price of $27.42.

Sprout Social Price Performance

Shares of NASDAQ SPT opened at $13.94 on Thursday. Sprout Social has a twelve month low of $13.75 and a twelve month high of $36.30. The firm has a market cap of $811.03 million, a P/E ratio of -14.67 and a beta of 0.99. The company has a 50 day moving average of $19.66 and a 200 day moving average of $23.13. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.11.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.03. Sprout Social had a negative net margin of 12.70% and a negative return on equity of 26.65%. The company had revenue of $111.78 million during the quarter, compared to analyst estimates of $110.93 million. During the same period in the previous year, the business earned $0.09 EPS. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. As a group, research analysts expect that Sprout Social will post -0.99 EPS for the current fiscal year.

Insider Activity

In other news, insider Justyn Russell Howard sold 40,000 shares of the business’s stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $21.12, for a total transaction of $844,800.00. Following the completion of the sale, the insider owned 7,417 shares of the company’s stock, valued at $156,647.04. The trade was a 84.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Karen Walker sold 5,000 shares of the business’s stock in a transaction on Monday, July 14th. The shares were sold at an average price of $19.05, for a total transaction of $95,250.00. Following the sale, the director directly owned 28,963 shares of the company’s stock, valued at approximately $551,745.15. The trade was a 14.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 112,375 shares of company stock valued at $2,389,535 in the last 90 days. Company insiders own 10.12% of the company’s stock.

Institutional Investors Weigh In On Sprout Social

A number of hedge funds have recently modified their holdings of SPT. ArrowMark Colorado Holdings LLC boosted its holdings in Sprout Social by 380.7% in the 4th 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. Nuveen LLC bought a new position in shares of Sprout Social during the 1st quarter valued at about $13,131,000. Dorsey Asset Management LLC boosted its holdings in shares of Sprout Social by 16.7% during the 4th quarter. Dorsey Asset Management LLC now owns 2,306,149 shares of the company’s stock valued at $70,822,000 after purchasing an additional 330,155 shares during the last quarter. Cadian Capital Management LP boosted its holdings 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 purchasing an additional 263,267 shares during the last quarter. Finally, Federated Hermes Inc. bought a new position in shares of Sprout Social during the 1st quarter valued at about $5,354,000.

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.