The Goldman Sachs Group Lowers Sprout Social (NASDAQ:SPT) Price Target to $21.00

Key Points

• The Goldman Sachs Group has lowered its price target for Sprout Social from $24.00 to $21.00, maintaining a "neutral" rating, which implies a potential upside of 36.03% from the last close.
• Other analysts have varied opinions on Sprout Social; Barclays set a target of $26.00 while Needham & Company maintains a bullish outlook with a target of $32.00.
• Sprout Social's most recent quarterly earnings report showed a revenue increase of 12.5% year-over-year, with earnings per share of $0.18 exceeding estimates.

Sprout Social (NASDAQ:SPT - Get Free Report) had its price objective dropped by stock analysts at The Goldman Sachs Group from $24.00 to $21.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the stock. The Goldman Sachs Group's target price suggests a potential upside of 36.03% from the company's previous close.

Several other research firms have also recently weighed in on SPT. Barclays lowered their price objective on shares of Sprout Social from $34.00 to $26.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Needham & Company LLC reaffirmed a "buy" rating and issued a $32.00 price target on shares of Sprout Social in a research note on Wednesday, May 28th. Morgan Stanley dropped their target price on Sprout Social from $30.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Cantor Fitzgerald reissued a "neutral" rating and issued a $24.00 price target on shares of Sprout Social in a research note on Tuesday, June 3rd. Finally, Oppenheimer cut their price objective on shares of Sprout Social from $32.00 to $23.00 and set an "outperform" rating on the stock in a research report on Thursday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $28.25.

Sprout Social Price Performance

NASDAQ SPT traded down $0.62 on Thursday, reaching $15.44. 885,434 shares of the stock traded hands, compared to its average volume of 681,080. The firm's fifty day simple moving average is $19.95 and its 200 day simple moving average is $23.39. The company has a market cap of $898.18 million, a price-to-earnings ratio of -14.82 and a beta of 0.99. Sprout Social has a 12 month low of $14.59 and a 12 month high of $36.30. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.11.

Sprout Social (NASDAQ:SPT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.18 earnings per share for the quarter, topping analysts' consensus estimates of $0.15 by $0.03. Sprout Social had a negative return on equity of 31.03% and a negative net margin of 14.25%. The firm had revenue of $111.78 million for the quarter, compared to analysts' expectations of $110.93 million. During the same quarter last year, the business posted $0.09 EPS. Sprout Social's revenue was up 12.5% on a year-over-year basis. As a group, research analysts predict that Sprout Social will post -0.99 EPS for the current fiscal year.

Insider Buying and Selling at Sprout Social

In other Sprout Social news, Director Karen Walker sold 5,000 shares of the business's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $19.05, for a total value of $95,250.00. Following the sale, the director owned 28,963 shares of the company's stock, valued at $551,745.15. The trade was a 14.72% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Ryan Paul Barretto sold 16,800 shares of Sprout Social stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $21.16, for a total transaction of $355,488.00. Following the sale, the chief executive officer owned 119,775 shares in the company, valued at approximately $2,534,439. This trade represents a 12.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 112,375 shares of company stock valued at $2,389,535 in the last ninety days. Company insiders own 10.12% of the company's stock.

Institutional Trading of Sprout Social

Hedge funds have recently modified their holdings of the company. Versant Capital Management Inc grew its holdings in Sprout Social by 1,319.4% during the first quarter. Versant Capital Management Inc now owns 1,462 shares of the company's stock valued at $32,000 after purchasing an additional 1,359 shares during the period. Quarry LP grew its holdings in shares of Sprout Social by 85.2% in the 1st quarter. Quarry LP now owns 1,463 shares of the company's stock valued at $32,000 after buying an additional 673 shares during the period. First Horizon Advisors Inc. increased its position in shares of Sprout Social by 78.9% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,531 shares of the company's stock valued at $32,000 after buying an additional 675 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Sprout Social during the 1st quarter worth $47,000. Finally, CWM LLC lifted its holdings in Sprout Social by 266.3% during the second quarter. CWM LLC now owns 3,934 shares of the company's stock worth $82,000 after acquiring an additional 2,860 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.

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