Sprout Social (NASDAQ:SPT) Earns Market Perform Rating from William Blair

William Blair reiterated their market perform rating on shares of Sprout Social (NASDAQ:SPT) in a report published on Friday, Marketbeat reports.

Several other research analysts also recently issued reports on SPT. Cantor Fitzgerald lowered their price objective on shares of Sprout Social from $74.00 to $46.00 and set an overweight rating on the stock in a research report on Friday. KeyCorp lowered Sprout Social from an overweight rating to a sector weight rating in a report on Friday. The Goldman Sachs Group cut Sprout Social from a buy rating to a neutral rating and dropped their price target for the company from $80.00 to $44.00 in a research report on Friday. Needham & Company LLC decreased their price objective on Sprout Social from $75.00 to $55.00 and set a buy rating for the company in a research report on Friday. Finally, Piper Sandler lowered Sprout Social from an overweight rating to a neutral rating and dropped their target price for the company from $66.00 to $40.00 in a report on Friday. 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, the company presently has a consensus rating of Moderate Buy and a consensus price target of $57.07.

Sprout Social Price Performance

Shares of SPT opened at $28.50 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.08 and a quick ratio of 1.08. Sprout Social has a 1-year low of $27.85 and a 1-year high of $68.41. The stock has a market cap of $1.60 billion, a PE ratio of -23.06 and a beta of 1.09. The firm has a fifty day moving average price of $55.98 and a 200 day moving average price of $56.80.

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

Insider Activity at Sprout Social

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 transaction of $89,445.00. Following the sale, the chief financial officer now owns 172,644 shares of the company’s stock, valued at approximately $10,294,761.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Sprout Social news, CEO Justyn Russell Howard sold 40,000 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $58.36, for a total transaction of $2,334,400.00. Following the completion of the transaction, the chief executive officer now owns 287,912 shares of the company’s stock, valued at $16,802,544.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Preto Joseph Del sold 1,500 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $59.63, for a total value of $89,445.00. Following the completion of the sale, the chief financial officer now owns 172,644 shares in the company, valued at $10,294,761.72. The disclosure for this sale can be found here. Insiders sold 89,100 shares of company stock worth $5,126,065 over the last 90 days. Company insiders own 10.97% of the company’s stock.

Institutional Investors Weigh In On Sprout Social

Several hedge funds have recently modified their holdings of SPT. Fidelis Capital Partners LLC purchased a new position in shares of Sprout Social during the first quarter valued at approximately $27,000. RiverPark Advisors LLC acquired a new position in Sprout Social in the 3rd quarter valued at $37,000. Guinness Atkinson Asset Management Inc acquired a new stake in shares of Sprout Social during the third quarter worth $40,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Sprout Social during the third quarter worth $47,000. Finally, Arcadia Investment Management Corp MI grew 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 purchasing an additional 281 shares during the period.

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.