Recent Analysts’ Ratings Changes for Sprout Social (SPT)

Sprout Social (NASDAQ: SPT) has recently received a number of price target changes and ratings updates:

• 5/3/2024 – Sprout Social was downgraded by analysts at KeyCorp from an “overweight” rating to a “sector weight” rating.
• 5/3/2024 – Sprout Social had its price target lowered by analysts at Barclays PLC from $72.00 to $50.00. They now have an “overweight” rating on the stock.
• 5/3/2024 – Sprout Social had its price target lowered by analysts at Cantor Fitzgerald from $74.00 to $46.00. They now have an “overweight” rating on the stock.
• 5/3/2024 – Sprout Social had its price target lowered by analysts at Oppenheimer Holdings Inc. from $76.00 to $43.00. They now have an “outperform” rating on the stock.
• 5/3/2024 – Sprout Social was downgraded by analysts at The Goldman Sachs Group, Inc. from a “buy” rating to a “neutral” rating. They now have a $44.00 price target on the stock, down previously from $80.00.
• 5/3/2024 – Sprout Social was downgraded by analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating. They now have a $45.00 price target on the stock, down previously from $72.00.
• 5/3/2024 – Sprout Social was downgraded by analysts at Piper Sandler from an “overweight” rating to a “neutral” rating. They now have a $40.00 price target on the stock, down previously from $66.00.
• 5/3/2024 – Sprout Social was downgraded by analysts at BTIG Research from a “buy” rating to a “neutral” rating.
• 5/3/2024 – Sprout Social had its “market perform” rating reaffirmed by analysts at William Blair.
• 5/3/2024 – Sprout Social had its price target lowered by analysts at Morgan Stanley from $65.00 to $49.00. They now have an “equal weight” rating on the stock.
• 5/3/2024 – Sprout Social had its price target lowered by analysts at Canaccord Genuity Group Inc. from $70.00 to $50.00. They now have a “buy” rating on the stock.
• 5/3/2024 – Sprout Social had its price target lowered by analysts at Needham & Company LLC from $75.00 to $55.00. They now have a “buy” rating on the stock.
• 4/22/2024 – Sprout Social had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $75.00 price target on the stock.
• 4/18/2024 – Sprout Social is now covered by analysts at Oppenheimer Holdings Inc.. They set an “outperform” rating and a $76.00 price target on the stock.
• 4/17/2024 – Sprout Social had its price target lowered by analysts at Morgan Stanley from $73.00 to $65.00. They now have an “equal weight” rating on the stock.
• 4/16/2024 – Sprout Social had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $75.00 price target on the stock.
• 3/21/2024 – Sprout Social is now covered by analysts at KeyCorp. They set an “overweight” rating and a $83.00 price target on the stock.

Sprout Social Stock Performance

Sprout Social stock opened at $28.82 on Monday. Sprout Social, Inc. has a fifty-two week low of $27.85 and a fifty-two week high of $68.41. The stock’s 50 day simple moving average is $55.98 and its two-hundred day simple moving average is $56.80. 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 stock has a market cap 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 quarterly earnings data on Tuesday, February 20th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $93.58 million during the quarter, compared to the consensus estimate of $90.76 million. As a group, analysts expect that Sprout Social, Inc. will post -1.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, President Ryan Paul Barretto sold 5,600 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $56.95, for a total transaction of $318,920.00. Following the completion of the transaction, the president now directly owns 198,175 shares in the company, valued at $11,286,066.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Preto Joseph Del sold 1,500 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 172,644 shares in the company, valued at approximately $10,294,761.72. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Ryan Paul Barretto sold 5,600 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $56.95, for a total value of $318,920.00. Following the completion of the transaction, the president now directly owns 198,175 shares in the company, valued at $11,286,066.25. The disclosure for this sale can be found here. Insiders have sold 89,100 shares of company stock worth $5,126,065 in the last 90 days. Insiders own 10.97% of the company’s stock.

Hedge Funds Weigh In On Sprout Social

A number of hedge funds have recently bought and sold shares of the business. Baillie Gifford & Co. grew its position in Sprout Social by 244.1% during the third quarter. Baillie Gifford & Co. now owns 4,404,402 shares of the company’s stock valued at $219,692,000 after buying an additional 3,124,376 shares during the period. Wellington Management Group LLP raised its stake in shares of Sprout Social by 27.5% in the third quarter. Wellington Management Group LLP now owns 3,953,155 shares of the company’s stock worth $197,183,000 after buying an additional 853,127 shares during the period. Fred Alger Management LLC lifted its position in shares of Sprout Social by 334.1% during the 3rd quarter. Fred Alger Management LLC now owns 667,462 shares of the company’s stock valued at $33,293,000 after buying an additional 513,687 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Sprout Social by 17.0% during the 1st quarter. Jennison Associates LLC now owns 2,137,422 shares of the company’s stock valued at $127,625,000 after acquiring an additional 311,146 shares during the period. Finally, Shannon River Fund Management LLC purchased a new stake in Sprout Social in the 3rd quarter worth approximately $14,103,000.

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.