Oppenheimer Lowers Sprout Social (NASDAQ:SPT) Price Target to $23.00

Key Points

• Oppenheimer has lowered its price target for Sprout Social from $32.00 to $23.00 while maintaining an "outperform" rating, indicating a potential upside of 45.62% from the current stock price.
• Other analysts, including Barclays and Morgan Stanley, have also reduced their target prices, with a consensus price target of $28.42 and an average rating of "Hold".
• Sprout Social's recent quarterly earnings showed a 12.5% year-over-year revenue increase, with the company reporting $111.78 million in revenue, surpassing analyst expectations.

Sprout Social (NASDAQ:SPT - Free Report) had its price target trimmed by Oppenheimer from $32.00 to $23.00 in a research report sent to investors on Thursday morning, MarketBeat reports. The brokerage currently has an outperform rating on the stock.

SPT has been the topic of a number of other reports. Needham & Company LLC reissued a "buy" rating and set a $32.00 price target on shares of Sprout Social in a research report on Wednesday, May 28th. Barclays decreased their price target on shares of Sprout Social from $34.00 to $26.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. The Goldman Sachs Group decreased their target price on shares of Sprout Social from $29.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Morgan Stanley cut their price target on shares of Sprout Social from $30.00 to $22.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $24.00 price objective on shares of Sprout Social in a research note on Tuesday, June 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $27.42.

Sprout Social Price Performance

Shares of NASDAQ:SPT traded down $0.46 on Thursday, reaching $13.49. 491,364 shares of the company traded hands, compared to its average volume of 687,876. The company's 50 day moving average is $19.66 and its 200-day moving average is $22.99. The stock has a market capitalization of $784.50 million, a PE ratio of -14.21 and a beta of 0.99. Sprout Social has a fifty-two week low of $13.51 and a fifty-two week high of $36.30. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.00 and a quick ratio of 1.00.

Sprout Social (NASDAQ:SPT - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.15 by $0.03. Sprout Social had a negative net margin of 12.70% and a negative return on equity of 25.95%. The firm had revenue of $111.78 million for the quarter, compared to the consensus estimate of $110.93 million. During the same period in the prior year, the business posted $0.09 earnings per share. The business's quarterly revenue was up 12.5% on a year-over-year basis. As a group, analysts anticipate that Sprout Social will post -0.99 earnings per share for the current fiscal year.

Insider Activity at Sprout Social

In other Sprout Social news, Director Karen Walker sold 5,000 shares of the firm's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $19.05, for a total value of $95,250.00. Following the completion of the sale, the director directly owned 28,963 shares of the company's stock, valued at $551,745.15. This trade represents a 14.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Justyn Russell Howard sold 40,000 shares of Sprout Social stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $21.12, for a total value of $844,800.00. Following the completion of the transaction, the insider directly owned 7,417 shares of the company's stock, valued at approximately $156,647.04. This represents a 84.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 112,375 shares of company stock worth $2,389,535 over the last quarter. Insiders own 10.12% of the company's stock.

Institutional Trading of Sprout Social

A number of institutional investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Sprout Social by 11.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,976 shares of the company's stock valued at $373,000 after purchasing an additional 1,703 shares in the last quarter. Brighton Jones LLC grew its holdings in shares of Sprout Social by 391.7% in the 4th quarter. Brighton Jones LLC now owns 35,985 shares of the company's stock worth $1,105,000 after acquiring an additional 28,667 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Sprout Social in the 4th quarter worth $1,184,000. Barclays PLC boosted its position in shares of Sprout Social by 8.9% in the fourth quarter. Barclays PLC now owns 98,284 shares of the company's stock worth $3,018,000 after buying an additional 8,050 shares during the period. Finally, Rhumbline Advisers boosted its position in shares of Sprout Social by 9.6% in the first quarter. Rhumbline Advisers now owns 76,976 shares of the company's stock worth $1,693,000 after buying an additional 6,774 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.