BTIG Research Lowers Sprout Social (NASDAQ:SPT) to Neutral

BTIG Research cut shares of Sprout Social (NASDAQ:SPT) from a buy rating to a neutral rating in a research note published on Friday, MarketBeat Ratings reports.

A number of other equities research analysts also recently weighed in on SPT. Barclays decreased their price target on shares of Sprout Social from $75.00 to $72.00 and set an overweight rating on the stock in a research note on Wednesday, February 21st. Canaccord Genuity Group reissued a buy rating and set a $70.00 price objective on shares of Sprout Social in a report on Wednesday, February 21st. Needham & Company LLC reissued a buy rating and set a $75.00 price objective on shares of Sprout Social in a report on Monday, April 22nd. Stifel Nicolaus lifted their price objective on Sprout Social from $60.00 to $70.00 and gave the company a buy rating in a report on Friday, January 19th. Finally, KeyCorp started coverage on Sprout Social in a report on Thursday, March 21st. They set an overweight rating and a $83.00 price objective for the company. Seven 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 company presently has a consensus rating of Moderate Buy and an average target price of $57.07.

Sprout Social Stock Down 40.1 %

SPT opened at $28.82 on Friday. Sprout Social has a fifty-two week low of $27.85 and a fifty-two week high of $68.41. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.08 and a quick ratio of 1.08. The firm’s fifty day moving average price is $55.98 and its two-hundred day moving average price is $56.80. The company has a market capitalization of $1.62 billion, a P/E ratio of -23.06 and a beta of 1.09.

Sprout Social (NASDAQ:SPT) last posted its quarterly earnings results on Tuesday, February 20th. The company reported ($0.32) earnings per share 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 business had revenue of $93.58 million for the quarter, compared to analyst estimates of $90.76 million. On average, analysts anticipate that Sprout Social will post -1.17 EPS for the current year.

Insider Buying and Selling at Sprout Social

In other news, CFO Preto Joseph Del sold 1,500 shares of Sprout Social stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $59.63, for a total transaction of $89,445.00. Following the completion of the sale, the chief financial officer now owns 172,644 shares in the company, valued at approximately $10,294,761.72. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, 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 value of $1,130,400.00. Following the completion of the sale, the chief executive officer now owns 406,636 shares in the company, valued at $22,983,066.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Preto Joseph Del sold 1,500 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $59.63, for a total value of $89,445.00. Following the completion of the transaction, the chief financial officer now directly owns 172,644 shares in the company, valued at approximately $10,294,761.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,100 shares of company stock worth $5,126,065. Company insiders own 10.97% of the company’s stock.

Institutional Investors Weigh In On Sprout Social

A number of hedge funds have recently modified their holdings of the business. Fidelis Capital Partners LLC bought a new stake in Sprout Social in the 1st quarter valued at $27,000. RiverPark Advisors LLC bought a new stake in shares of Sprout Social in the third quarter valued at about $37,000. Guinness Atkinson Asset Management Inc bought a new stake in shares of Sprout Social in the third quarter valued at about $40,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Sprout Social during the third quarter worth about $47,000. Finally, Arcadia Investment Management Corp MI boosted its position in shares of Sprout Social by 36.7% during the fourth quarter. Arcadia Investment Management Corp MI now owns 1,047 shares of the company’s stock worth $64,000 after buying an additional 281 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.