Sprout Social (NASDAQ:SPT) Cut to Neutral at The Goldman Sachs Group

The Goldman Sachs Group lowered shares of Sprout Social (NASDAQ:SPT) from a buy rating to a neutral rating in a research note released on Friday, Marketbeat Ratings reports. They currently have $44.00 price objective on the stock, down from their previous price objective of $80.00.

A number of other research firms also recently weighed in on SPT. Needham & Company LLC dropped their price target on shares of Sprout Social from $75.00 to $55.00 and set a buy rating on the stock in a research note on Friday. Piper Sandler lowered Sprout Social from an overweight rating to a neutral rating and dropped their target price for the stock from $66.00 to $40.00 in a research report on Friday. Morgan Stanley reduced their price target on Sprout Social from $73.00 to $65.00 and set an equal weight rating for the company in a report on Wednesday, April 17th. Stifel Nicolaus increased their price objective on Sprout Social from $60.00 to $70.00 and gave the stock a buy rating in a report on Friday, January 19th. Finally, Robert W. Baird lowered shares of Sprout Social from an outperform rating to a neutral rating and cut their price objective for the company from $72.00 to $45.00 in a research report on Friday. Seven research 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, Sprout Social currently has a consensus rating of Moderate Buy and a consensus target price of $57.07.

Sprout Social Trading Down 1.1 %

Shares of NASDAQ SPT opened at $28.50 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.38. Sprout Social has a one year low of $27.85 and a one year high of $68.41. The business has a 50-day moving average price of $55.98 and a two-hundred day moving average price of $56.80. The firm has a market capitalization of $1.60 billion, a PE ratio of -23.06 and a beta of 1.09.

Sprout Social (NASDAQ:SPT) last posted its quarterly 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 company had revenue of $93.58 million for the quarter, compared to analyst estimates of $90.76 million. As a group, analysts predict that Sprout Social will post -1.17 earnings per share for the current fiscal year.

Insider Transactions at Sprout Social

In other news, President Ryan Paul Barretto sold 5,600 shares of the company’s stock in a transaction dated 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 sale, the president now owns 198,175 shares in the company, valued at approximately $11,286,066.25. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, President Ryan Paul Barretto sold 5,600 shares of the stock in a transaction that occurred 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 sale, the president now owns 198,175 shares in the company, valued at approximately $11,286,066.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Aaron Edward Frederick Rankin sold 22,000 shares of the 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 $1,252,900.00. Following the sale, the director now owns 44,487 shares of the company’s stock, valued at approximately $2,533,534.65. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,100 shares of company stock worth $5,126,065. 10.97% of the stock is owned by corporate insiders.

Institutional Trading of Sprout Social

Several hedge funds have recently added to or reduced their stakes in SPT. Atria Wealth Solutions Inc. lifted its position in shares of Sprout Social by 4.7% in the 3rd quarter. Atria Wealth Solutions Inc. now owns 4,654 shares of the company’s stock worth $232,000 after acquiring an additional 208 shares during the period. Verdence Capital Advisors LLC lifted its position in shares of Sprout Social by 3.2% in the 4th quarter. Verdence Capital Advisors LLC now owns 7,345 shares of the company’s stock worth $451,000 after acquiring an additional 225 shares during the period. Arcadia Investment Management Corp MI lifted its position in shares of Sprout Social by 36.7% in 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 during the period. PNC Financial Services Group Inc. lifted its position in shares of Sprout Social by 14.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,500 shares of the company’s stock worth $125,000 after acquiring an additional 323 shares during the period. Finally, Fidelis Capital Partners LLC bought a new stake in shares of Sprout Social in the 1st quarter worth approximately $27,000.

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.