Sprout Social (NASDAQ:SPT) Rating Lowered to Neutral at Robert W. Baird

Robert W. Baird cut shares of Sprout Social (NASDAQ:SPT) from an outperform rating to a neutral rating in a research report report published on Friday, MarketBeat reports. They currently have $45.00 price target on the stock, down from their prior price target of $72.00.

Other equities analysts have also recently issued reports about the stock. Jefferies Financial Group started coverage on shares of Sprout Social in a research note on Wednesday, February 7th. They issued a buy rating and a $76.00 target price for the company. Canaccord Genuity Group reiterated a buy rating and issued a $70.00 target price on shares of Sprout Social in a research note on Wednesday, February 21st. Barclays decreased their target price 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. Morgan Stanley decreased their target price on shares of Sprout Social from $73.00 to $65.00 and set an equal weight rating for the company in a research note on Wednesday, April 17th. Finally, Needham & Company LLC reiterated a buy rating and issued a $75.00 target price on shares of Sprout Social in a research note on Monday, April 22nd. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Sprout Social presently has an average rating of Moderate Buy and a consensus price target of $57.07.

Sprout Social Stock Performance

NASDAQ SPT opened at $28.82 on Friday. The firm has a market capitalization of $1.62 billion, a P/E ratio of -23.06 and a beta of 1.09. The stock has a 50-day simple moving average of $55.98 and a two-hundred day simple moving average of $56.80. 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 fifty-two week low of $27.85 and a fifty-two week high of $68.41.

Sprout Social (NASDAQ:SPT) last announced its quarterly 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 company had revenue of $93.58 million for the quarter, compared to analysts’ expectations of $90.76 million. On average, equities analysts forecast that Sprout Social will post -1.17 earnings per share for the current year.

Insider Transactions at Sprout Social

In other news, CEO Justyn Russell Howard sold 20,000 shares of the company’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $56.52, for a total transaction of $1,130,400.00. Following the completion of the sale, the chief executive officer now owns 406,636 shares of the company’s stock, valued at $22,983,066.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 shares were 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 of the company’s stock, valued at $22,983,066.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Ryan Paul Barretto sold 5,600 shares of the company’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 $318,920.00. Following the completion of 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. Insiders sold 89,100 shares of company stock valued at $5,126,065 over the last 90 days. 10.97% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sprout Social

A number of hedge funds have recently modified their holdings of the company. Atria Wealth Solutions Inc. grew its holdings in shares of Sprout Social by 4.7% in the third quarter. Atria Wealth Solutions Inc. now owns 4,654 shares of the company’s stock valued at $232,000 after purchasing an additional 208 shares during the period. Verdence Capital Advisors LLC lifted its position in Sprout Social by 3.2% in 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 last quarter. Arcadia Investment Management Corp MI lifted its position in Sprout Social by 36.7% in 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 last quarter. PNC Financial Services Group Inc. lifted its position in Sprout Social by 14.8% in 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 last quarter. Finally, Fidelis Capital Partners LLC acquired a new position in Sprout Social in the first quarter valued at about $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.