Sprout Social (NASDAQ:SPT) Price Target Cut to $23.00 by Analysts at The Goldman Sachs Group

Sprout Social (NASDAQ:SPT) had its target price reduced by The Goldman Sachs Group from $29.00 to $23.00 in a research report released on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

Other equities analysts have also recently issued research reports about the company. Piper Sandler cut their price target on Sprout Social from $29.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Stifel Nicolaus cut their target price on shares of Sprout Social from $45.00 to $34.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Morgan Stanley decreased their price target on shares of Sprout Social from $30.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Barclays dropped their price objective on shares of Sprout Social from $38.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Finally, Scotiabank reduced their target price on shares of Sprout Social from $28.00 to $25.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $32.77.

Sprout Social Price Performance

Shares of NASDAQ:SPT opened at $19.64 on Thursday. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of -16.37 and a beta of 1.11. The firm has a fifty day moving average price of $24.69 and a 200 day moving average price of $28.70. Sprout Social has a fifty-two week low of $18.72 and a fifty-two week high of $54.40. 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 released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.15 by ($0.35). The company had revenue of $107.09 million for the quarter, compared to the consensus estimate of $106.74 million. Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. As a group, sell-side analysts expect that Sprout Social will post -0.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Karen Walker sold 5,000 shares of the firm’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $19.42, for a total value of $97,100.00. Following the transaction, the director now owns 25,665 shares of the company’s stock, valued at $498,414.30. This trade represents a 16.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Justyn Russell Howard sold 40,000 shares of Sprout Social stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $32.59, for a total transaction of $1,303,600.00. Following the sale, the insider now directly owns 7,417 shares of the company’s stock, valued at $241,720.03. This represents a 84.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 125,446 shares of company stock valued at $3,115,839 over the last 90 days. Insiders own 10.97% of the company’s stock.

Hedge Funds Weigh In On Sprout Social

Institutional investors have recently bought and sold shares of the business. ArrowMark Colorado Holdings LLC raised its position in shares of 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 acquiring an additional 1,403,549 shares in the last quarter. Norges Bank purchased a new position in Sprout Social in the fourth quarter valued at about $13,422,000. Dorsey Asset Management LLC raised its holdings in Sprout Social by 16.7% in the fourth quarter. Dorsey Asset Management LLC now owns 2,306,149 shares of the company’s stock worth $70,822,000 after purchasing an additional 330,155 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Sprout Social by 324.0% during the third quarter. JPMorgan Chase & Co. now owns 402,947 shares of the company’s stock valued at $11,714,000 after buying an additional 307,906 shares during the last quarter. Finally, Cadian Capital Management LP boosted its holdings in shares of Sprout Social by 6.1% in the 4th quarter. Cadian Capital Management LP now owns 4,548,323 shares of the company’s stock valued at $139,679,000 after buying an additional 263,267 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.