Sprout Social’s (SPT) Market Perform Rating Reaffirmed at William Blair

William Blair reissued their market perform rating on shares of Sprout Social (NASDAQ:SPT) in a research note published on Friday, Marketbeat reports.

A number of other research analysts have also recently weighed in on the stock. The Goldman Sachs Group cut shares of 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 report on Friday. Piper Sandler cut Sprout Social from an overweight rating to a neutral rating and reduced their price objective for the company from $66.00 to $40.00 in a research note on Friday. Robert W. Baird lowered Sprout Social from an outperform rating to a neutral rating and decreased their target price for the company from $72.00 to $45.00 in a report on Friday. Oppenheimer cut their price target on Sprout Social from $76.00 to $43.00 and set an outperform rating on the stock in a report on Friday. Finally, Jefferies Financial Group began coverage on Sprout Social in a research note on Wednesday, February 7th. They issued a buy rating and a $76.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Sprout Social presently has an average rating of Moderate Buy and a consensus price target of $57.07.

Sprout Social Trading Down 40.1 %

Shares of NASDAQ SPT traded down $19.33 during midday trading on Friday, reaching $28.82. 13,470,229 shares of the stock were exchanged, compared to its average volume of 679,800. The stock has a market capitalization of $1.62 billion, a P/E ratio of -23.06 and a beta of 1.09. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.08 and a current ratio of 1.08. The company has a 50 day simple moving average of $55.98 and a 200 day simple moving average of $56.71. Sprout Social has a twelve month low of $27.85 and a twelve month high of $68.41.

Sprout Social (NASDAQ:SPT) last issued its quarterly earnings data on Tuesday, February 20th. The company reported ($0.32) earnings per share (EPS) 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 company had revenue of $93.58 million during the quarter, compared to analysts’ expectations of $90.76 million. As a group, equities analysts expect that Sprout Social will post -1.17 earnings per share for the current year.

Insiders Place Their Bets

In related news, President Ryan Paul Barretto sold 5,600 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $59.63, for a total transaction of $333,928.00. Following the sale, the president now owns 209,375 shares in the company, valued at $12,485,031.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Sprout Social news, President Ryan Paul Barretto sold 5,600 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $59.63, for a total value of $333,928.00. Following the sale, the president now directly owns 209,375 shares of the company’s stock, valued at approximately $12,485,031.25. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Aaron Edward Frederick Rankin sold 44,000 shares of Sprout Social stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $59.60, for a total value of $2,622,400.00. Following the completion of the sale, the director now owns 40,888 shares of the company’s stock, valued at approximately $2,436,924.80. The disclosure for this sale can be found here. Insiders have sold 140,200 shares of company stock valued at $8,171,958 in the last ninety days. Insiders own 10.97% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SPT. Fidelis Capital Partners LLC acquired a new stake in shares of Sprout Social in the first quarter valued at about $27,000. RiverPark Advisors LLC purchased a new stake in shares of Sprout Social during the third quarter valued at approximately $37,000. Guinness Atkinson Asset Management Inc acquired a new position in shares of Sprout Social during the third quarter worth $40,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Sprout Social in the third quarter valued at $47,000. Finally, Arcadia Investment Management Corp MI grew its holdings in Sprout Social by 36.7% during the 4th quarter. Arcadia Investment Management Corp MI now owns 1,047 shares of the company’s stock valued at $64,000 after purchasing an additional 281 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.