Sprout Social (NASDAQ:SPT) Downgraded by Robert W. Baird to “Neutral”

Robert W. Baird downgraded shares of Sprout Social (NASDAQ:SPT) from an outperform rating to a neutral rating in a report published on Friday, Marketbeat Ratings reports. They currently have $45.00 price target on the stock, down from their prior price target of $72.00.

Several other research firms also recently commented on SPT. Cantor Fitzgerald reissued an overweight rating and issued a $74.00 target price on shares of Sprout Social in a report on Wednesday, February 21st. Stifel Nicolaus boosted their target price on Sprout Social from $60.00 to $70.00 and gave the stock a buy rating in a report on Friday, January 19th. Canaccord Genuity Group reissued a buy rating and issued a $70.00 target price on shares of Sprout Social in a report on Wednesday, February 21st. Jefferies Financial Group began coverage on Sprout Social in a report on Wednesday, February 7th. They set a buy rating and a $76.00 price target on the stock. Finally, Oppenheimer began coverage on Sprout Social in a report on Thursday, April 18th. They set an outperform rating and a $76.00 price target on the stock. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $57.07.

Sprout Social Stock Down 40.1 %

Shares of NASDAQ SPT traded down $19.33 during mid-day trading on Friday, hitting $28.82. 13,470,229 shares of the stock traded hands, compared to its average volume of 679,800. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.08 and a current ratio of 1.08. Sprout Social has a 52 week low of $27.85 and a 52 week high of $68.41. The company has a market cap of $1.62 billion, a price-to-earnings ratio of -23.06 and a beta of 1.09. The stock has a fifty day moving average price of $55.98 and a 200-day moving average price of $56.71.

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 the consensus estimate of ($0.30) by ($0.02). Sprout Social had a negative net margin of 19.64% and a negative return on equity of 42.60%. The firm had revenue of $93.58 million for the quarter, compared to the consensus estimate of $90.76 million. Research analysts anticipate that Sprout Social will post -1.17 EPS for the current year.

Insider Activity at Sprout Social

In other Sprout Social news, Director Aaron Edward Frederick Rankin sold 44,000 shares of the company’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $59.60, for a total value of $2,622,400.00. Following the completion of the sale, the director now owns 40,888 shares in the company, valued at $2,436,924.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Sprout Social news, 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 value of $89,565.00. Following the completion of the sale, the chief financial officer now owns 127,322 shares in the company, valued at $7,602,396.62. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Aaron Edward Frederick Rankin sold 44,000 shares of the company’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $59.60, for a total value of $2,622,400.00. Following the completion of the sale, the director now owns 40,888 shares of the company’s stock, valued at approximately $2,436,924.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 140,200 shares of company stock worth $8,171,958. 10.97% of the stock is owned by insiders.

Institutional Trading of Sprout Social

Institutional investors have recently made changes to their positions in the business. Fidelis Capital Partners LLC purchased a new stake in shares of Sprout Social during the first quarter worth about $27,000. RiverPark Advisors LLC bought a new position in Sprout Social during the third quarter valued at approximately $37,000. Guinness Atkinson Asset Management Inc bought a new position in Sprout Social during the third quarter valued at approximately $40,000. DekaBank Deutsche Girozentrale bought a new position in Sprout Social during the third quarter valued at approximately $47,000. Finally, Arcadia Investment Management Corp MI boosted its stake in Sprout Social by 36.7% during the fourth quarter. Arcadia Investment Management Corp MI now owns 1,047 shares of the company’s stock valued at $64,000 after buying an additional 281 shares during 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.