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

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

Other equities analysts also recently issued reports about the company. The Goldman Sachs Group downgraded Sprout Social from a buy rating to a neutral rating and dropped their price objective for the company from $80.00 to $44.00 in a research note on Friday. Barclays dropped their price objective on Sprout Social from $75.00 to $72.00 and set an overweight rating for the company in a research note on Wednesday, February 21st. Morgan Stanley dropped their price target on Sprout Social from $73.00 to $65.00 and set an equal weight rating for the company in a research report on Wednesday, April 17th. KeyCorp downgraded Sprout Social from an overweight rating to a sector weight rating in a research report on Friday. Finally, Needham & Company LLC dropped their price target 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 issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $57.07.

Sprout Social Stock Performance

Shares of SPT stock opened at $28.50 on Friday. The company has a market cap of $1.60 billion, a price-to-earnings ratio of -23.06 and a beta of 1.09. The stock has a 50 day simple moving average of $55.98 and a 200-day simple moving average of $56.80. Sprout Social has a 12-month low of $27.85 and a 12-month high of $68.41. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.38.

Sprout Social (NASDAQ:SPT) last released its quarterly earnings data 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 19.64% and a negative return on equity of 42.60%. The firm had revenue of $93.58 million during the quarter, compared to analysts’ expectations of $90.76 million. On average, equities analysts forecast that Sprout Social will post -1.17 EPS for the current year.

Insider Activity at Sprout Social

In related news, CEO Justyn Russell Howard sold 20,000 shares of Sprout Social stock in a transaction 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 $22,983,066.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Justyn Russell Howard sold 20,000 shares of Sprout Social stock in a transaction 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 $22,983,066.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Ryan Paul Barretto sold 5,600 shares of Sprout Social stock in a transaction on Thursday, April 4th. The shares were 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. Over the last 90 days, insiders have sold 89,100 shares of company stock worth $5,126,065. 10.97% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Sprout Social by 3.9% during the third quarter. Vanguard Group Inc. now owns 5,084,389 shares of the company’s stock worth $253,609,000 after acquiring an additional 191,471 shares during the last quarter. Baillie Gifford & Co. increased its position in shares of Sprout Social by 244.1% during the third quarter. Baillie Gifford & Co. now owns 4,404,402 shares of the company’s stock worth $219,692,000 after acquiring an additional 3,124,376 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Sprout Social by 27.5% during the third quarter. Wellington Management Group LLP now owns 3,953,155 shares of the company’s stock worth $197,183,000 after acquiring an additional 853,127 shares during the last quarter. Clearbridge Investments LLC increased its position in shares of Sprout Social by 6.5% during the fourth quarter. Clearbridge Investments LLC now owns 2,532,339 shares of the company’s stock worth $155,587,000 after acquiring an additional 153,642 shares during the last quarter. Finally, Jennison Associates LLC increased its position in shares of Sprout Social by 17.0% during the first quarter. Jennison Associates LLC now owns 2,137,422 shares of the company’s stock worth $127,625,000 after acquiring an additional 311,146 shares during 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.