Cantor Fitzgerald Cuts Sprout Social (NASDAQ:SPT) Price Target to $46.00

Sprout Social (NASDAQ:SPT) had its target price decreased by Cantor Fitzgerald from $74.00 to $46.00 in a research report report published on Friday morning, Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the stock.

Several other equities research analysts also recently weighed in on the company. Barclays cut their price objective on Sprout Social from $75.00 to $72.00 and set an overweight rating on the stock in a report on Wednesday, February 21st. Oppenheimer lowered their target price on Sprout Social from $76.00 to $43.00 and set an outperform rating for the company in a research report on Friday. BTIG Research lowered Sprout Social from a buy rating to a neutral rating in a research report on Friday. Robert W. Baird lowered Sprout Social from an outperform rating to a neutral rating and lowered their target price for the stock from $72.00 to $45.00 in a research report on Friday. Finally, Needham & Company LLC lowered their price objective on Sprout Social from $75.00 to $55.00 and set a buy rating for the company in a research report on Friday. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Sprout Social has an average rating of Moderate Buy and a consensus target price of $57.07.

Sprout Social Trading Down 1.1 %

Shares of SPT stock opened at $28.50 on Friday. The stock’s fifty day moving average price is $55.98 and its two-hundred day moving average price is $56.80. The company has a market cap of $1.60 billion, a PE ratio of -23.06 and a beta of 1.09. Sprout Social has a fifty-two week low of $27.85 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) last issued its earnings results on Tuesday, February 20th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). Sprout Social had a negative net margin of 19.64% and a negative return on equity of 42.60%. The business had revenue of $93.58 million during the quarter, compared to analyst estimates of $90.76 million. Equities analysts predict that Sprout Social will post -1.17 EPS for the current fiscal year.

Insider Buying and Selling at Sprout Social

In other Sprout Social news, CEO Justyn Russell Howard sold 20,000 shares of Sprout Social stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $56.52, for a total transaction of $1,130,400.00. Following the completion of the transaction, the chief executive officer now owns 406,636 shares in the company, valued at approximately $22,983,066.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Justyn Russell Howard sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $56.52, for a total value of $1,130,400.00. Following the transaction, the chief executive officer now owns 406,636 shares in the company, valued at approximately $22,983,066.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Ryan Paul Barretto sold 5,600 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $56.95, for a total value of $318,920.00. Following the completion of the transaction, the president now owns 198,175 shares in the company, valued at approximately $11,286,066.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,100 shares of company stock worth $5,126,065. Insiders own 10.97% of the company’s stock.

Hedge Funds Weigh In On Sprout Social

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Knights of Columbus Asset Advisors LLC raised its holdings in Sprout Social by 162.5% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 74,357 shares of the company’s stock valued at $4,568,000 after acquiring an additional 46,033 shares during the period. Natixis Advisors L.P. raised its holdings in Sprout Social by 43.7% during the 3rd quarter. Natixis Advisors L.P. now owns 61,300 shares of the company’s stock valued at $3,058,000 after acquiring an additional 18,644 shares during the period. Baillie Gifford & Co. raised its holdings in Sprout Social by 244.1% during the 3rd quarter. Baillie Gifford & Co. now owns 4,404,402 shares of the company’s stock valued at $219,692,000 after acquiring an additional 3,124,376 shares during the period. Corton Capital Inc. raised its holdings in Sprout Social by 16.6% during the 3rd quarter. Corton Capital Inc. now owns 6,899 shares of the company’s stock valued at $344,000 after acquiring an additional 983 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Sprout Social by 3.9% during the 3rd quarter. Vanguard Group Inc. now owns 5,084,389 shares of the company’s stock valued at $253,609,000 after acquiring an additional 191,471 shares during the period.

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.