Robert W. Baird Downgrades Sprout Social (NASDAQ:SPT) to Neutral

Robert W. Baird cut shares of Sprout Social (NASDAQ:SPT) from an outperform rating to a neutral rating in a report released on Friday, Marketbeat Ratings reports. The firm currently has $45.00 price objective on the stock, down from their prior price objective of $72.00.

A number of other analysts also recently weighed in on the company. Piper Sandler downgraded Sprout Social from an overweight rating to a neutral rating and decreased their price target for the stock from $66.00 to $40.00 in a report on Friday. Canaccord Genuity Group restated a buy rating and set a $70.00 price target on shares of Sprout Social in a report on Wednesday, February 21st. Cantor Fitzgerald reiterated an overweight rating and issued a $74.00 price objective on shares of Sprout Social in a research note on Wednesday, February 21st. The Goldman Sachs Group increased their target price on shares of Sprout Social from $65.00 to $81.00 and gave the stock a buy rating in a research note on Tuesday, January 23rd. Finally, Morgan Stanley decreased 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 note on Wednesday, April 17th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $57.07.

Sprout Social Trading Down 1.9 %

NASDAQ SPT opened at $28.28 on Friday. Sprout Social has a 12 month low of $27.75 and a 12 month high of $68.41. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $1.59 billion, a PE ratio of -22.62 and a beta of 1.09. The business’s 50-day moving average price is $55.98 and its two-hundred day moving average price is $56.80.

Sprout Social (NASDAQ:SPT) last released its 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). The firm had revenue of $93.58 million for 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 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Preto Joseph Del sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $59.63, for a total value of $89,445.00. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Preto Joseph Del sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $59.63, for a total value of $89,445.00. Following the transaction, the chief financial officer now owns 172,644 shares in the company, valued at $10,294,761.72. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Justyn Russell Howard sold 20,000 shares of the business’s stock in a transaction on 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 in the company, valued at $22,983,066.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,100 shares of company stock valued at $5,126,065. Corporate insiders own 10.97% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Fidelis Capital Partners LLC purchased a new position in shares of Sprout Social in the first quarter valued at $27,000. RiverPark Advisors LLC bought a new position in Sprout Social in the 3rd quarter worth about $37,000. Guinness Atkinson Asset Management Inc purchased a new position in Sprout Social during the 3rd quarter valued at about $40,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Sprout Social in the third quarter worth about $47,000. Finally, Arcadia Investment Management Corp MI boosted its position in shares of 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 acquiring 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.