Canaccord Genuity Group Lowers Sprout Social (NASDAQ:SPT) Price Target to $16.00

Sprout Social (NASDAQ:SPT) had its price target dropped by equities research analysts at Canaccord Genuity Group from $25.00 to $16.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 60.00% from the stock’s current price.

Other research analysts also recently issued reports about the stock. The Goldman Sachs Group dropped their target price on shares of Sprout Social from $24.00 to $21.00 and set a “neutral” rating on the stock in a research report on Thursday, August 7th. Zacks Research lowered shares of Sprout Social from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sprout Social in a report on Wednesday, October 8th. Finally, Oppenheimer dropped their price target on Sprout Social from $32.00 to $23.00 and set an “outperform” rating on the stock in a research report on Thursday, August 7th. Six research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $26.55.

Sprout Social Price Performance

Shares of NASDAQ:SPT traded up $0.13 during trading on Friday, reaching $10.00. The stock had a trading volume of 1,622,447 shares, compared to its average volume of 863,057. The stock has a market cap of $588.15 million, a PE ratio of -12.35 and a beta of 0.88. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.00 and a current ratio of 1.00. Sprout Social has a 1-year low of $9.46 and a 1-year high of $36.30. The business has a fifty day moving average price of $12.66 and a 200-day moving average price of $17.18.

Sprout Social (NASDAQ:SPT) last posted its earnings results on Wednesday, November 5th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.07. Sprout Social had a negative net margin of 10.59% and a negative return on equity of 19.43%. The company had revenue of $115.59 million for the quarter, compared to analyst estimates of $114.86 million. During the same period in the previous year, the business posted $0.13 EPS. Sprout Social’s revenue was up 12.7% on a year-over-year basis. Sprout Social has set its FY 2025 guidance at 0.770-0.790 EPS. Q4 2025 guidance at 0.150-0.170 EPS. On average, equities analysts forecast that Sprout Social will post -0.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Sprout Social news, insider Justyn Russell Howard sold 20,000 shares of the firm’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $10.22, for a total value of $204,400.00. Following the sale, the insider directly owned 7,417 shares in the company, valued at $75,801.74. This trade represents a 72.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last ninety days, insiders sold 70,566 shares of company stock worth $899,581. 10.12% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Quarry LP raised its position in shares of Sprout Social by 85.2% in the 1st quarter. Quarry LP now owns 1,463 shares of the company’s stock valued at $32,000 after acquiring an additional 673 shares during the period. First Horizon Advisors Inc. lifted its position in shares of Sprout Social by 78.9% in the second quarter. First Horizon Advisors Inc. now owns 1,531 shares of the company’s stock valued at $32,000 after buying an additional 675 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Sprout Social during the first quarter worth approximately $47,000. State of Alaska Department of Revenue acquired a new position in shares of Sprout Social in the third quarter valued at about $30,000. Finally, Versant Capital Management Inc raised its holdings in Sprout Social by 2,754.5% in the 3rd quarter. Versant Capital Management Inc now owns 3,511 shares of the company’s stock valued at $45,000 after acquiring an additional 3,388 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.