Sprout Social (NASDAQ:SPT) Downgraded by Robert W. Baird

Sprout Social (NASDAQ:SPT) was downgraded by research analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a research note issued to investors on Friday, MarketBeat reports. They presently have a $45.00 target price on the stock, down from their previous target price of $72.00. Robert W. Baird’s price target points to a potential upside of 56.14% from the company’s current price.

Other research analysts also recently issued research reports about the company. Oppenheimer initiated coverage on Sprout Social in a research note on Thursday, April 18th. They set an “outperform” rating and a $76.00 price target for the company. Stifel Nicolaus upped their price target on shares of Sprout Social from $60.00 to $70.00 and gave the company a “buy” rating in a report on Friday, January 19th. KeyCorp assumed coverage on shares of Sprout Social in a research note on Thursday, March 21st. They set an “overweight” rating and a $83.00 price objective for the company. Barclays reduced their target price on Sprout Social from $75.00 to $72.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 21st. Finally, The Goldman Sachs Group raised their price target on Sprout Social from $65.00 to $81.00 and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Sprout Social has a consensus rating of “Moderate Buy” and an average target price of $57.07.

Sprout Social Trading Down 40.1 %

Shares of Sprout Social stock opened at $28.82 on Friday. The company has a 50-day moving average of $55.98 and a two-hundred day moving average of $56.71. Sprout Social has a 12-month low of $27.85 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 stock has a market cap of $1.62 billion, a PE ratio of -23.06 and a beta of 1.09.

Sprout Social (NASDAQ:SPT) last released its quarterly 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 during the quarter, compared to analyst estimates of $90.76 million. Sprout Social had a negative return on equity of 42.60% and a negative net margin of 19.64%. On average, research analysts anticipate that Sprout Social will post -1.17 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Aaron Edward Frederick Rankin sold 44,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $59.60, for a total value of $2,622,400.00. Following the sale, the director now directly owns 40,888 shares of the company’s stock, valued at $2,436,924.80. The transaction 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 20,000 shares of the company’s stock in a transaction dated Monday, April 8th. The stock was 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 directly owns 406,636 shares in the company, valued at $22,983,066.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Aaron Edward Frederick Rankin sold 44,000 shares of Sprout Social stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $59.60, for a total value of $2,622,400.00. Following the completion of the transaction, the director now directly owns 40,888 shares in the company, valued at $2,436,924.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 140,200 shares of company stock valued at $8,171,958. Insiders own 10.97% of the company’s stock.

Institutional Trading of Sprout Social

Institutional investors and hedge funds have recently bought and sold shares of the business. Fidelis Capital Partners LLC acquired a new stake in Sprout Social in the 1st quarter valued at $27,000. RiverPark Advisors LLC purchased a new stake in shares of Sprout Social in the third quarter worth about $37,000. Guinness Atkinson Asset Management Inc acquired a new stake in shares of Sprout Social in the third quarter valued at about $40,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Sprout Social during the 3rd quarter valued at about $47,000. Finally, Arcadia Investment Management Corp MI lifted its position in Sprout Social by 36.7% during the 4th quarter. Arcadia Investment Management Corp MI now owns 1,047 shares of the company’s stock worth $64,000 after acquiring an additional 281 shares in 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.