The Goldman Sachs Group Cuts Sprout Social (NASDAQ:SPT) Price Target to $29.00

Sprout Social (NASDAQ:SPT) had its target price decreased by The Goldman Sachs Group from $34.00 to $29.00 in a research note published on Wednesday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

SPT has been the topic of a number of other research reports. Oppenheimer dropped their price target on shares of Sprout Social from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 3rd. Morgan Stanley dropped their price target on shares of Sprout Social from $37.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Stifel Nicolaus dropped their price target on shares of Sprout Social from $45.00 to $34.00 and set a “buy” rating on the stock in a research report on Wednesday. Needham & Company LLC dropped their price target on shares of Sprout Social from $55.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Barclays dropped 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $34.08.

Sprout Social Price Performance

Shares of SPT opened at $28.09 on Wednesday. The firm has a market cap of $1.61 billion, a PE ratio of -23.41 and a beta of 1.06. The firm’s 50 day moving average price is $31.73 and its 200 day moving average price is $30.54. 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 has a twelve month low of $25.05 and a twelve month high of $64.91.

Sprout Social (NASDAQ:SPT) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.35). The business 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, research analysts expect that Sprout Social will post -0.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other Sprout Social news, CEO Ryan Paul Barretto sold 13,465 shares of Sprout Social stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $31.45, for a total transaction of $423,474.25. Following the sale, the chief executive officer now owns 546,343 shares in the company, valued at $17,182,487.35. The trade was a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Justyn Russell Howard sold 40,000 shares of Sprout Social stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $31.67, for a total transaction of $1,266,800.00. Following the sale, the insider now owns 27,136 shares in the company, valued at $859,397.12. This represents a 59.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 120,265 shares of company stock worth $3,837,006 over the last 90 days. Corporate insiders own 10.97% of the company’s stock.

Institutional Investors Weigh In On Sprout Social

Hedge funds have recently made changes to their positions in the company. Woodline Partners LP acquired a new position in Sprout Social in the fourth quarter valued at about $233,000. Two Sigma Advisers LP boosted its position in Sprout Social by 96.4% in the fourth quarter. Two Sigma Advisers LP now owns 110,600 shares of the company’s stock valued at $3,397,000 after buying an additional 54,300 shares in the last quarter. ProShare Advisors LLC boosted its position in Sprout Social by 49.9% in the fourth quarter. ProShare Advisors LLC now owns 14,459 shares of the company’s stock valued at $444,000 after buying an additional 4,811 shares in the last quarter. Nuveen Asset Management LLC boosted its position in Sprout Social by 110.7% in the fourth quarter. Nuveen Asset Management LLC now owns 454,162 shares of the company’s stock valued at $13,947,000 after buying an additional 238,650 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its position in Sprout Social by 44.3% in the fourth quarter. Lazard Asset Management LLC now owns 62,176 shares of the company’s stock valued at $1,909,000 after buying an additional 19,098 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.