Sprout Social’s (SPT) Neutral Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reissued their neutral rating on shares of Sprout Social (NASDAQ:SPT) in a research note issued to investors on Tuesday morning, Marketbeat Ratings reports. Cantor Fitzgerald currently has a $24.00 price objective on the stock.

SPT has been the topic of several other research reports. Piper Sandler decreased their target price on Sprout Social from $29.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Scotiabank cut their price target on Sprout Social from $28.00 to $25.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. Oppenheimer cut their price target on Sprout Social from $38.00 to $32.00 and set an “outperform” rating for the company in a report on Friday, May 9th. The Goldman Sachs Group cut their price target on Sprout Social from $29.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, April 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $32.00 price target on shares of Sprout Social in a report on Wednesday, May 28th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $30.00.

Sprout Social Stock Performance

NASDAQ SPT opened at $22.11 on Tuesday. The company has a market cap of $1.29 billion, a PE ratio of -18.42 and a beta of 1.20. The stock’s 50 day simple moving average is $21.28 and its 200-day simple moving average is $27.22. Sprout Social has a 1-year low of $18.52 and a 1-year high of $39.75. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96.

Sprout Social (NASDAQ:SPT) last released its earnings results on Thursday, May 8th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.07. The business had revenue of $109.29 million for the quarter, compared to the consensus estimate of $107.63 million. Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.10 earnings per share. As a group, equities research analysts anticipate that Sprout Social will post -0.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Justyn Russell Howard sold 40,000 shares of the firm’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $20.81, for a total transaction of $832,400.00. Following the completion of the transaction, the insider now directly owns 7,417 shares in the company, valued at $154,347.77. This trade represents a 84.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Aaron Edward Frederick Rankin sold 23,646 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $24.58, for a total value of $581,218.68. Following the transaction, the director now owns 42,122 shares of the company’s stock, valued at approximately $1,035,358.76. This represents a 35.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 125,446 shares of company stock valued at $2,644,639 over the last quarter. 10.12% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Versant Capital Management Inc grew its stake in Sprout Social by 1,319.4% during the 1st quarter. Versant Capital Management Inc now owns 1,462 shares of the company’s stock worth $32,000 after purchasing an additional 1,359 shares in the last quarter. Quarry LP grew its stake in Sprout Social by 85.2% during the 1st quarter. Quarry LP now owns 1,463 shares of the company’s stock worth $32,000 after purchasing an additional 673 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Sprout Social during the 1st quarter worth $47,000. US Bancorp DE grew its stake in Sprout Social by 2,392.6% during the 4th quarter. US Bancorp DE now owns 1,695 shares of the company’s stock worth $52,000 after purchasing an additional 1,627 shares in the last quarter. Finally, KBC Group NV grew its stake in Sprout Social by 77.1% during the 4th quarter. KBC Group NV now owns 2,525 shares of the company’s stock worth $78,000 after purchasing an additional 1,099 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.