Morgan Stanley Cuts Sprout Social (NASDAQ:SPT) Price Target to $65.00

Sprout Social (NASDAQ:SPT - Get Free Report) had its target price lowered by investment analysts at Morgan Stanley from $73.00 to $65.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Morgan Stanley's price objective indicates a potential upside of 24.62% from the company's previous close.

A number of other research analysts have also recently commented on the stock. Stifel Nicolaus raised their price target on shares of Sprout Social from $60.00 to $70.00 and gave the stock a "buy" rating in a research note on Friday, January 19th. Cantor Fitzgerald restated an "overweight" rating and set a $74.00 price target on shares of Sprout Social in a research note on Wednesday, February 21st. Piper Sandler raised their price target on shares of Sprout Social from $62.00 to $66.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 21st. Needham & Company LLC restated a "buy" rating and set a $75.00 price target on shares of Sprout Social in a research note on Tuesday. Finally, Barclays cut their price target on shares of Sprout Social from $75.00 to $72.00 and set an "overweight" rating for the company in a research note on Wednesday, February 21st. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $72.31.

Sprout Social Stock Performance

Shares of NASDAQ:SPT traded down $0.79 during midday trading on Wednesday, hitting $52.16. The company's stock had a trading volume of 831,411 shares, compared to its average volume of 589,400. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of -43.47 and a beta of 1.05. The stock's 50 day simple moving average is $59.55 and its 200 day simple moving average is $56.76. Sprout Social has a fifty-two week low of $37.00 and a fifty-two week high of $68.41. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.08 and a current ratio of 1.08.

Sprout Social (NASDAQ:SPT - Get Free Report) last released its earnings results on Tuesday, February 20th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.02). Sprout Social had a negative net margin of 19.91% and a negative return on equity of 41.25%. The company had revenue of $93.58 million during the quarter, compared to the consensus estimate of $90.76 million. As a group, research analysts anticipate that Sprout Social will post -1.17 earnings per share for the current year.

Insider Activity

In related news, CFO Preto Joseph Del sold 1,500 shares of the firm's stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $59.71, for a total value of $89,565.00. Following the completion of the sale, the chief financial officer now owns 127,322 shares of the company's stock, valued at $7,602,396.62. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Preto Joseph Del sold 1,500 shares of the firm's stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $59.71, for a total value of $89,565.00. Following the completion of the sale, the chief financial officer now owns 127,322 shares of the company's stock, valued at $7,602,396.62. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Ryan Paul Barretto sold 5,600 shares of the firm's stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $59.63, for a total transaction of $333,928.00. Following the completion of the sale, the president now directly owns 209,375 shares of the company's stock, valued at approximately $12,485,031.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 140,200 shares of company stock worth $8,171,958. Insiders own 11.93% of the company's stock.

Institutional Trading of Sprout Social

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. WoodTrust Financial Corp grew its holdings in Sprout Social by 6.7% during the 1st quarter. WoodTrust Financial Corp now owns 23,800 shares of the company's stock worth $1,421,000 after acquiring an additional 1,500 shares during the period. Moody National Bank Trust Division grew its holdings in Sprout Social by 2.8% during the 1st quarter. Moody National Bank Trust Division now owns 75,012 shares of the company's stock worth $4,479,000 after acquiring an additional 2,043 shares during the period. Goldman Sachs Group Inc. grew its holdings in Sprout Social by 5.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 306,640 shares of the company's stock worth $18,840,000 after acquiring an additional 16,726 shares during the period. Teachers Retirement System of The State of Kentucky grew its holdings in Sprout Social by 20.0% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 94,047 shares of the company's stock worth $5,777,000 after acquiring an additional 15,662 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in Sprout Social by 148.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 76,620 shares of the company's stock worth $4,709,000 after acquiring an additional 45,742 shares during the period.

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.