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

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

SPT has been the topic of several other reports. Oppenheimer decreased their target price on shares of Sprout Social from $76.00 to $43.00 and set an outperform rating on the stock in a research note on Friday. Canaccord Genuity Group reaffirmed a buy rating and issued a $70.00 target price on shares of Sprout Social in a research note on Wednesday, February 21st. Stifel Nicolaus lifted their price target on shares of Sprout Social from $60.00 to $70.00 and gave the company a buy rating in a report on Friday, January 19th. BTIG Research cut shares of Sprout Social from a buy rating to a neutral rating in a report on Friday. Finally, The Goldman Sachs Group cut shares of Sprout Social from a buy rating to a neutral rating and cut their price target for the company from $80.00 to $44.00 in a report on Friday. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $57.07.

Sprout Social Trading Down 40.1 %

Shares of NASDAQ SPT traded down $19.33 during mid-day trading on Friday, hitting $28.82. The stock had a trading volume of 13,470,229 shares, compared to its average volume of 679,800. 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 has a 1 year low of $27.85 and a 1 year high of $68.41. The business has a 50 day moving average price of $55.98 and a two-hundred day moving average price of $56.71. The firm has a market cap of $1.62 billion, a P/E ratio of -23.06 and a beta of 1.09.

Sprout Social (NASDAQ:SPT) last issued its earnings results on Tuesday, February 20th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.02). Sprout Social had a negative return on equity of 42.60% and a negative net margin of 19.64%. The firm had revenue of $93.58 million during the quarter, compared to analysts’ expectations of $90.76 million. On average, equities analysts anticipate that Sprout Social will post -1.17 EPS for the current fiscal year.

Insider Activity

In other news, CFO Preto Joseph Del sold 1,500 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $59.71, for a total transaction of $89,565.00. Following the sale, the chief financial officer now owns 127,322 shares in the company, valued at approximately $7,602,396.62. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CFO Preto Joseph Del sold 1,500 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $59.71, for a total value of $89,565.00. Following the transaction, the chief financial officer now owns 127,322 shares in the company, valued at approximately $7,602,396.62. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Justyn Russell Howard sold 20,000 shares of the company’s 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 140,200 shares of company stock worth $8,171,958. Corporate insiders own 10.97% of the company’s stock.

Hedge Funds Weigh In On Sprout Social

Hedge funds have recently bought and sold shares of the company. Knights of Columbus Asset Advisors LLC boosted its stake in Sprout Social by 162.5% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 74,357 shares of the company’s stock worth $4,568,000 after purchasing an additional 46,033 shares in the last quarter. Natixis Advisors L.P. boosted its stake in Sprout Social by 43.7% in the 3rd quarter. Natixis Advisors L.P. now owns 61,300 shares of the company’s stock worth $3,058,000 after purchasing an additional 18,644 shares in the last quarter. Baillie Gifford & Co. raised its position in Sprout Social by 244.1% in the 3rd quarter. Baillie Gifford & Co. now owns 4,404,402 shares of the company’s stock worth $219,692,000 after buying an additional 3,124,376 shares during the last quarter. Corton Capital Inc. raised its position in Sprout Social by 16.6% in the 3rd quarter. Corton Capital Inc. now owns 6,899 shares of the company’s stock worth $344,000 after buying an additional 983 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Sprout Social by 3.9% in the 3rd quarter. Vanguard Group Inc. now owns 5,084,389 shares of the company’s stock worth $253,609,000 after buying an additional 191,471 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.