Sprout Social (NASDAQ:SPT) Lowered to “Neutral” at BTIG Research

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

Several other brokerages have also weighed in on SPT. The Goldman Sachs Group lifted their price objective on Sprout Social from $65.00 to $81.00 and gave the stock a buy rating in a report on Tuesday, January 23rd. Stifel Nicolaus lifted their target price on Sprout Social from $60.00 to $70.00 and gave the company a buy rating in a report on Friday, January 19th. Cantor Fitzgerald reaffirmed an overweight rating and set a $74.00 target price on shares of Sprout Social in a report on Wednesday, February 21st. Oppenheimer started coverage on Sprout Social in a report on Thursday, April 18th. They set an outperform rating and a $76.00 target price for the company. Finally, Barclays reduced their target price on Sprout Social from $75.00 to $72.00 and set an overweight rating for the company in a report on Wednesday, February 21st. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Sprout Social has a consensus rating of Moderate Buy and a consensus target price of $57.07.

Sprout Social Trading Down 40.1 %

Shares of SPT opened at $28.82 on Friday. The business has a 50-day moving average of $55.98 and a 200 day moving average of $56.80. Sprout Social has a fifty-two week low of $27.85 and a fifty-two week high of $68.41. The firm has a market cap 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.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings data 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 return on equity of 42.60% and a negative net margin of 19.64%. The firm had revenue of $93.58 million during the quarter, compared to analysts’ expectations of $90.76 million. As a group, research analysts forecast that Sprout Social will post -1.17 EPS for the current year.

Insider Buying and Selling

In related news, CEO Justyn Russell Howard sold 20,000 shares of the business’s stock in a transaction that occurred on 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 approximately $22,983,066.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Justyn Russell Howard sold 20,000 shares of the business’s stock in a transaction that occurred on 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 approximately $22,983,066.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Ryan Paul Barretto sold 5,600 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $56.95, for a total value of $318,920.00. Following the completion of the sale, the president now 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. Insiders sold 89,100 shares of company stock worth $5,126,065 in the last quarter. 10.97% of the stock is owned by insiders.

Institutional Trading of Sprout Social

Several hedge funds and other institutional investors have recently bought and sold shares of SPT. Atria Wealth Solutions Inc. increased its stake in shares of Sprout Social by 4.7% during the third quarter. Atria Wealth Solutions Inc. now owns 4,654 shares of the company’s stock valued at $232,000 after buying an additional 208 shares during the period. Verdence Capital Advisors LLC increased its stake in shares of Sprout Social by 3.2% during the fourth quarter. Verdence Capital Advisors LLC now owns 7,345 shares of the company’s stock valued at $451,000 after buying an additional 225 shares during the period. Arcadia Investment Management Corp MI increased its stake 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 valued at $64,000 after buying an additional 281 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Sprout Social by 14.8% during the third quarter. PNC Financial Services Group Inc. now owns 2,500 shares of the company’s stock valued at $125,000 after buying an additional 323 shares during the period. Finally, Fidelis Capital Partners LLC purchased a new position in shares of Sprout Social during the first quarter valued at approximately $27,000.

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.