Sprout Social (NASDAQ:SPT) Rating Lowered to Sector Weight at KeyCorp

Sprout Social (NASDAQ:SPT) was downgraded by equities researchers at KeyCorp from an “overweight” rating to a “sector weight” rating in a report issued on Friday, Marketbeat Ratings reports.

SPT has been the topic of several other research reports. Canaccord Genuity Group reissued a “buy” rating and issued a $70.00 price objective on shares of Sprout Social in a research note on Wednesday, February 21st. Jefferies Financial Group assumed coverage on Sprout Social in a research report on Wednesday, February 7th. They issued a “buy” rating and a $76.00 price target on the stock. Morgan Stanley lowered their price objective on 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. The Goldman Sachs Group lifted their price objective on Sprout Social from $65.00 to $81.00 and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. Finally, Oppenheimer started coverage on shares of Sprout Social in a report on Thursday, April 18th. They set an “outperform” rating and a $76.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.07.

Sprout Social Stock Performance

Shares of SPT stock opened at $28.82 on Friday. The business’s 50-day moving average price is $55.98 and its 200-day moving average price is $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 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 (NASDAQ:SPT) last posted its earnings results on Tuesday, February 20th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.02). Sprout Social had a negative return on equity of 42.60% and a negative net margin of 19.64%. The business had revenue of $93.58 million for the quarter, compared to analyst estimates of $90.76 million. Equities research analysts forecast that Sprout Social will post -1.17 EPS for the current year.

Insider Activity

In other Sprout Social news, CFO Preto Joseph Del sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $59.71, for a total value of $89,565.00. Following the completion of the sale, the chief financial officer now owns 127,322 shares of the company’s stock, valued at $7,602,396.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, President Ryan Paul Barretto sold 5,600 shares of Sprout Social stock in a transaction dated Monday, February 5th. The shares were 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 directly owns 209,375 shares in the company, valued at $12,485,031.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Preto Joseph Del sold 1,500 shares of the company’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $59.71, for a total transaction of $89,565.00. Following the completion of the sale, the chief financial officer now owns 127,322 shares in the company, valued at approximately $7,602,396.62. The disclosure for this sale can be found here. Insiders sold a total of 140,200 shares of company stock worth $8,171,958 in the last three months. Company insiders own 10.97% of the company’s stock.

Hedge Funds Weigh In On Sprout Social

Hedge funds have recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC purchased a new stake in shares of Sprout Social in the first quarter worth approximately $27,000. RiverPark Advisors LLC bought a new stake in Sprout Social during the third quarter worth $37,000. Guinness Atkinson Asset Management Inc purchased a new stake in Sprout Social in the 3rd quarter valued at $40,000. DekaBank Deutsche Girozentrale purchased a new stake in Sprout Social in the 3rd quarter valued at $47,000. Finally, Arcadia Investment Management Corp MI lifted its stake 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 valued at $64,000 after acquiring an additional 281 shares in the last quarter.

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.