Sprout Social (NASDAQ:SPT) Downgraded to Neutral at The Goldman Sachs Group

The Goldman Sachs Group downgraded shares of Sprout Social (NASDAQ:SPT) from a buy rating to a neutral rating in a research report sent to investors on Friday, Marketbeat.com reports. The Goldman Sachs Group currently has $44.00 price target on the stock, down from their prior price target of $80.00.

Several other equities research analysts also recently commented on SPT. Barclays lowered their price objective on shares of Sprout Social from $75.00 to $72.00 and set an overweight rating for the company in a research note on Wednesday, February 21st. BTIG Research downgraded shares of Sprout Social from a buy rating to a neutral rating in a research note on Friday. Oppenheimer began coverage on shares of Sprout Social in a research note on Thursday, April 18th. They set an outperform rating and a $76.00 price objective for the company. Needham & Company LLC lowered their price objective on shares of Sprout Social from $75.00 to $55.00 and set a buy rating for the company in a research note on Friday. Finally, KeyCorp cut shares of Sprout Social from an overweight rating to a sector weight rating in a report on Friday. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Sprout Social currently has a consensus rating of Moderate Buy and an average price target of $57.07.

Sprout Social Price Performance

Shares of SPT opened at $28.28 on Friday. Sprout Social has a twelve month low of $27.75 and a twelve month high of $68.41. 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 moving average of $55.98 and a two-hundred day moving average of $56.80.

Sprout Social (NASDAQ:SPT) last announced its earnings results on Tuesday, February 20th. The company reported ($0.32) earnings per share 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 firm had revenue of $93.58 million during the quarter, compared to analyst estimates of $90.76 million. Equities analysts predict that Sprout Social will post -1.17 EPS for the current fiscal year.

Insider Buying and Selling at Sprout Social

In other Sprout Social news, President Ryan Paul Barretto sold 5,600 shares of Sprout Social stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $56.95, for a total value of $318,920.00. Following the completion of the transaction, the president now owns 198,175 shares of the company’s stock, valued at $11,286,066.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Aaron Edward Frederick Rankin sold 22,000 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $56.95, for a total transaction of $1,252,900.00. Following the completion of the sale, the director now owns 44,487 shares of the company’s stock, valued at $2,533,534.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Ryan Paul Barretto sold 5,600 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $56.95, for a total transaction of $318,920.00. Following the sale, the president now directly owns 198,175 shares of the company’s stock, valued at approximately $11,286,066.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,100 shares of company stock valued at $5,126,065. Corporate insiders own 10.97% of the company’s stock.

Institutional Trading of Sprout Social

Institutional investors and hedge funds have recently modified their holdings of the stock. Fidelis Capital Partners LLC purchased a new stake in shares of Sprout Social during the first quarter worth about $27,000. RiverPark Advisors LLC purchased a new stake in shares of Sprout Social during the third quarter worth about $37,000. Guinness Atkinson Asset Management Inc acquired a new position in Sprout Social during the third quarter worth about $40,000. DekaBank Deutsche Girozentrale acquired a new position in Sprout Social during the third quarter worth about $47,000. Finally, Arcadia Investment Management Corp MI boosted its position in 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 acquiring an additional 281 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.