Sprout Social (NASDAQ:SPT) Given New $30.00 Price Target at Morgan Stanley

Sprout Social (NASDAQ:SPT) had its price target lowered by Morgan Stanley from $37.00 to $30.00 in a research note released on Wednesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other brokerages have also recently issued reports on SPT. Barclays reduced their price objective on Sprout Social from $38.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday. Scotiabank assumed coverage on Sprout Social in a research note on Monday, November 18th. They issued a “sector perform” rating and a $28.00 price objective for the company. Jefferies Financial Group raised their price objective on Sprout Social from $34.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Oppenheimer reduced their price objective on Sprout Social from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Tuesday, December 3rd. Finally, Piper Sandler reduced their price objective on Sprout Social from $29.00 to $27.00 and set a “neutral” rating for the company in a research note on Wednesday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $34.08.

Sprout Social Trading Up 3.1 %

Sprout Social stock opened at $28.09 on Wednesday. The stock has a 50-day moving average of $31.73 and a two-hundred day moving average of $30.54. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96. Sprout Social has a one year low of $25.05 and a one year high of $64.91. The stock has a market cap of $1.61 billion, a PE ratio of -23.41 and a beta of 1.06.

Sprout Social (NASDAQ:SPT) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.35). Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. The business had revenue of $107.09 million during the quarter, compared to analysts’ expectations of $106.74 million. On average, research analysts anticipate 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 firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $34.24, for a total value of $171,200.00. Following the sale, the director now directly owns 35,665 shares of the company’s stock, valued at approximately $1,221,169.60. This trade represents a 12.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ryan Paul Barretto sold 16,800 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $30.99, for a total value of $520,632.00. Following the completion of the sale, the chief executive officer now directly owns 153,375 shares in the company, valued at approximately $4,753,091.25. The trade was a 9.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 120,265 shares of company stock valued at $3,837,006. Company insiders own 10.97% of the company’s stock.

Institutional Trading of Sprout Social

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Sprout Social by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 5,886,167 shares of the company’s stock worth $180,764,000 after acquiring an additional 141,141 shares during the last quarter. Cadian Capital Management LP boosted its stake in shares of Sprout Social by 6.1% in the fourth quarter. Cadian Capital Management LP now owns 4,548,323 shares of the company’s stock worth $139,679,000 after acquiring an additional 263,267 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Sprout Social by 16.0% in the third quarter. Wellington Management Group LLP now owns 3,762,443 shares of the company’s stock worth $109,374,000 after acquiring an additional 519,406 shares during the last quarter. Dorsey Asset Management LLC boosted its stake in shares of Sprout Social by 16.7% in the fourth quarter. Dorsey Asset Management LLC now owns 2,306,149 shares of the company’s stock worth $70,822,000 after acquiring an additional 330,155 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of Sprout Social by 0.3% in the fourth quarter. Jennison Associates LLC now owns 2,171,567 shares of the company’s stock worth $66,689,000 after acquiring an additional 7,311 shares during the last quarter.

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.