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

Robert W. Baird downgraded shares of Sprout Social (NASDAQ:SPT) from an outperform rating to a neutral rating in a research note published on Friday, Marketbeat Ratings reports. Robert W. Baird currently has $45.00 target price on the stock, down from their previous target price of $72.00.

Other equities research analysts also recently issued reports about the stock. Barclays reduced their price target on shares of Sprout Social from $75.00 to $72.00 and set an overweight rating for the company in a research report on Wednesday, February 21st. The Goldman Sachs Group lifted their price target on shares of Sprout Social from $65.00 to $81.00 and gave the company a buy rating in a research report on Tuesday, January 23rd. Morgan Stanley reduced their price target on shares of Sprout Social from $73.00 to $65.00 and set an equal weight rating for the company in a research report on Wednesday, April 17th. Stifel Nicolaus raised their price objective on shares of Sprout Social from $60.00 to $70.00 and gave the stock a buy rating in a research note on Friday, January 19th. Finally, Jefferies Financial Group assumed coverage on shares of Sprout Social in a research note on Wednesday, February 7th. They set a buy rating and a $76.00 price objective for the company. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $57.07.

Sprout Social Stock Performance

NASDAQ:SPT traded down $19.33 during mid-day trading on Friday, reaching $28.82. The stock had a trading volume of 13,470,229 shares, compared to its average volume of 679,800. 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 firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of -23.06 and a beta of 1.09. Sprout Social has a twelve month low of $27.85 and a twelve month high of $68.41. The business has a 50 day simple moving average of $55.98 and a 200 day simple moving average of $56.71.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings data on Tuesday, February 20th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). The firm had revenue of $93.58 million during the quarter, compared to analyst estimates of $90.76 million. Sprout Social had a negative net margin of 19.64% and a negative return on equity of 42.60%. On average, analysts expect that Sprout Social will post -1.17 earnings per share for the current fiscal year.

Insider Activity at Sprout Social

In related news, CFO Preto Joseph Del sold 1,500 shares of Sprout Social stock in a transaction on Monday, February 5th. The shares were sold at an average price of $59.71, for a total transaction of $89,565.00. Following the transaction, the chief financial officer now owns 127,322 shares in the company, valued at approximately $7,602,396.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Sprout Social news, CFO Preto Joseph Del sold 1,500 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $59.71, for a total value of $89,565.00. Following the transaction, the chief financial officer now owns 127,322 shares in the company, valued at approximately $7,602,396.62. The sale was disclosed in a document filed 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 on Monday, February 5th. The stock was 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 in the company, valued at approximately $12,485,031.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 140,200 shares of company stock worth $8,171,958. 10.97% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sprout Social

Institutional investors have recently added to or reduced their stakes in the company. RiverPark Advisors LLC increased its position in shares of Sprout Social by 361.1% in the 1st quarter. RiverPark Advisors LLC now owns 5,750 shares of the company’s stock worth $343,000 after purchasing an additional 4,503 shares during the last quarter. Jennison Associates LLC increased its position in shares of Sprout Social by 17.0% in the 1st quarter. Jennison Associates LLC now owns 2,137,422 shares of the company’s stock worth $127,625,000 after purchasing an additional 311,146 shares during the last quarter. Fidelis Capital Partners LLC bought a new stake in shares of Sprout Social in the 1st quarter worth about $27,000. Allspring Global Investments Holdings LLC increased its position in shares of Sprout Social by 2.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 334,661 shares of the company’s stock worth $19,983,000 after purchasing an additional 7,194 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Sprout Social by 1.6% in the 1st quarter. Principal Financial Group Inc. now owns 881,101 shares of the company’s stock worth $52,611,000 after purchasing an additional 13,472 shares during the last quarter.

About Sprout Social

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.