Sprout Social (NASDAQ:SPT) Rating Reiterated by William Blair

Sprout Social (NASDAQ:SPT)‘s stock had its “market perform” rating reissued by analysts at William Blair in a report released on Friday, Marketbeat reports.

Several other research analysts have also issued reports on SPT. Barclays decreased their price target on shares of Sprout Social from $72.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday. Needham & Company LLC decreased their price objective on shares of Sprout Social from $75.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday. BTIG Research downgraded Sprout Social from a “buy” rating to a “neutral” rating in a research note on Friday. The Goldman Sachs Group cut shares of Sprout Social from a “buy” rating to a “neutral” rating and cut their price target for the stock from $80.00 to $44.00 in a report on Friday. Finally, Cantor Fitzgerald lowered their target price on Sprout Social from $74.00 to $46.00 and set an “overweight” rating for the company in a report on Friday. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $57.07.

Sprout Social Price Performance

NASDAQ SPT opened at $28.82 on Friday. The stock has a fifty day simple moving average of $55.98 and a 200 day simple moving average of $56.71. 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 twelve month low of $27.85 and a twelve month high of $68.41.

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

Insider Buying and Selling

In related news, Director Aaron Edward Frederick Rankin sold 44,000 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $59.60, for a total value of $2,622,400.00. Following the transaction, the director now owns 40,888 shares in the company, valued at $2,436,924.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Aaron Edward Frederick Rankin sold 44,000 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $59.60, for a total transaction of $2,622,400.00. Following the completion of the transaction, the director now owns 40,888 shares of the company’s stock, valued at $2,436,924.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Ryan Paul Barretto sold 5,600 shares of the 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 completion of the transaction, the president now owns 209,375 shares of the company’s stock, valued at $12,485,031.25. The disclosure for this sale can be found here. In the last three months, insiders sold 140,200 shares of company stock valued at $8,171,958. Company insiders own 10.97% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Knights of Columbus Asset Advisors LLC grew its holdings in shares of 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 during the last quarter. Natixis Advisors L.P. increased its stake in Sprout Social by 43.7% in the third quarter. Natixis Advisors L.P. now owns 61,300 shares of the company’s stock valued at $3,058,000 after purchasing an additional 18,644 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in 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 in the last quarter. Corton Capital Inc. increased its stake in Sprout Social by 16.6% during the 3rd quarter. Corton Capital Inc. now owns 6,899 shares of the company’s stock worth $344,000 after purchasing an additional 983 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings 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 period.

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.