Barclays Cuts Sprout Social (NASDAQ:SPT) Price Target to $26.00

Sprout Social (NASDAQ:SPT - Get Free Report) had its price target dropped by equities research analysts at Barclays from $34.00 to $26.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Barclays's target price would suggest a potential upside of 21.21% from the company's current price.

Other analysts have also issued research reports about the stock. Morgan Stanley lowered their target price on shares of Sprout Social from $30.00 to $22.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. The Goldman Sachs Group cut their price target on Sprout Social from $29.00 to $23.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Jefferies Financial Group upped their price objective on Sprout Social from $34.00 to $42.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Canaccord Genuity Group reduced their price target on shares of Sprout Social from $40.00 to $35.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Finally, Scotiabank dropped their price objective 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 analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $32.15.

Sprout Social Stock Up 2.2 %

SPT traded up $0.46 during trading on Monday, hitting $21.45. The company had a trading volume of 418,237 shares, compared to its average volume of 753,672. The company has a market cap of $1.24 billion, a PE ratio of -17.87 and a beta of 1.11. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96. Sprout Social has a 1-year low of $18.52 and a 1-year high of $52.49. The business has a 50-day moving average of $23.27 and a 200-day moving average of $28.35.

Sprout Social (NASDAQ:SPT - Get Free Report) last issued its quarterly earnings results 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 return on equity of 40.94% and a negative net margin of 17.24%. As a group, analysts forecast that Sprout Social will post -0.99 earnings per share for the current year.

Insider Activity

In other news, insider Justyn Russell Howard sold 40,000 shares of the business's stock in a transaction on Thursday, February 6th. The stock was 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. The trade was a 84.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Karen Walker sold 5,000 shares of Sprout Social stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $19.42, for a total value of $97,100.00. Following the completion of the transaction, the director now directly owns 25,665 shares in the company, valued at $498,414.30. This represents a 16.31 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 125,446 shares of company stock worth $3,115,839. Corporate insiders own 10.12% of the company's stock.

Institutional Trading of Sprout Social

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Sprout Social by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 5,886,167 shares of the company's stock worth $180,764,000 after acquiring an additional 141,141 shares in the last quarter. Cadian Capital Management LP boosted its position in Sprout Social by 6.1% during the fourth 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. Dorsey Asset Management LLC grew its stake 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 valued at $70,822,000 after purchasing an additional 330,155 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Sprout Social by 0.3% during the 4th quarter. Jennison Associates LLC now owns 2,171,567 shares of the company's stock worth $66,689,000 after purchasing an additional 7,311 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC lifted its holdings in shares of Sprout Social by 380.7% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,772,219 shares of the company's stock valued at $54,425,000 after buying an additional 1,403,549 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.