Sprout Social (NASDAQ:SPT) Given New $25.00 Price Target at Scotiabank

Sprout Social (NASDAQ:SPT) had its target price cut by Scotiabank from $28.00 to $25.00 in a report released on Thursday,Benzinga reports. They currently have a sector perform rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Stifel Nicolaus cut their target price on Sprout Social from $45.00 to $34.00 and set a “buy” rating for the company in a research report on Wednesday. Piper Sandler dropped their price target on Sprout Social from $29.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday. Oppenheimer dropped 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. Canaccord Genuity Group dropped their price target on Sprout Social from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Needham & Company LLC dropped their price target on Sprout Social from $55.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Sprout Social currently has a consensus rating of “Hold” and an average target price of $33.85.

Sprout Social Stock Performance

Shares of NASDAQ SPT opened at $27.35 on Thursday. 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 stock has a 50 day simple moving average of $31.63 and a 200-day simple moving average of $30.52. The company has a market cap of $1.57 billion, a PE ratio of -22.79 and a beta of 1.06. Sprout Social has a 12-month low of $25.05 and a 12-month high of $64.91.

Sprout Social (NASDAQ:SPT) last released its earnings results 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). The firm had revenue of $107.09 million during the quarter, compared to analyst estimates of $106.74 million. Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. On average, equities research analysts forecast that Sprout Social will post -0.99 EPS for the current year.

Insider Buying and Selling at Sprout Social

In related news, CEO Ryan Paul Barretto sold 13,465 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 546,343 shares in the company, valued at approximately $17,182,487.35. This trade represents a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Karen Walker sold 5,000 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $34.24, for a total value of $171,200.00. Following the sale, the director now owns 35,665 shares of the company’s stock, valued at approximately $1,221,169.60. This represents a 12.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 120,265 shares of company stock valued at $3,837,006 in the last three months. 10.97% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sprout Social

Hedge funds have recently bought and sold shares of the business. ArrowMark Colorado Holdings LLC grew its position in shares of Sprout Social by 380.7% in the fourth 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 last quarter. Wellington Management Group LLP grew its position in shares of Sprout Social by 16.0% in the third quarter. Wellington Management Group LLP now owns 3,762,443 shares of the company’s stock valued at $109,374,000 after purchasing an additional 519,406 shares during the last quarter. Norges Bank acquired a new stake in shares of Sprout Social in the fourth quarter valued at about $13,422,000. Dorsey Asset Management LLC grew its position in shares of Sprout Social by 16.7% in the fourth 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. Finally, JPMorgan Chase & Co. grew its position 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 valued at $11,714,000 after purchasing an additional 307,906 shares during 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.