Sprout Social (NASDAQ:SPT) Downgraded by The Goldman Sachs Group to “Neutral”

The Goldman Sachs Group cut shares of Sprout Social (NASDAQ:SPT) from a buy rating to a neutral rating in a research note released on Friday morning, Marketbeat reports. The firm currently has $44.00 price target on the stock, down from their prior price target of $80.00.

Several other research firms have also weighed in on SPT. Jefferies Financial Group started coverage on shares of Sprout Social in a report on Wednesday, February 7th. They set a buy rating and a $76.00 price objective for the company. Cantor Fitzgerald reaffirmed an overweight rating and set a $74.00 price objective on shares of Sprout Social in a report on Wednesday, February 21st. Robert W. Baird lowered shares of Sprout Social from an outperform rating to a neutral rating and dropped their price objective for the stock from $72.00 to $45.00 in a report on Friday. Needham & Company LLC dropped their price objective on shares of Sprout Social from $75.00 to $55.00 and set a buy rating for the company in a report on Friday. Finally, Oppenheimer began coverage on shares of Sprout Social in a report on Thursday, April 18th. They set an outperform rating and a $76.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $57.07.

Sprout Social Stock Performance

SPT stock traded down $19.33 during mid-day trading on Friday, reaching $28.82. 13,470,229 shares of the stock traded hands, compared to its average volume of 679,800. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.38. Sprout Social has a 52 week low of $27.85 and a 52 week high of $68.41. The business has a 50-day moving average of $55.98 and a two-hundred day moving average of $56.71. The firm has a market capitalization of $1.62 billion, a PE ratio of -23.06 and a beta of 1.09.

Sprout Social (NASDAQ:SPT) last released its 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). The company had revenue of $93.58 million during the quarter, compared to the consensus estimate of $90.76 million. Sprout Social had a negative net margin of 19.64% and a negative return on equity of 42.60%. As a group, equities analysts predict that Sprout Social will post -1.17 EPS for the current fiscal year.

Insider Buying and Selling at Sprout Social

In other news, Director Aaron Edward Frederick Rankin sold 44,000 shares of the firm’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $59.60, for a total transaction of $2,622,400.00. Following the completion of the sale, the director now owns 40,888 shares in the company, valued at approximately $2,436,924.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Aaron Edward Frederick Rankin sold 44,000 shares of the firm’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $59.60, for a total transaction of $2,622,400.00. Following the completion of the sale, the director now owns 40,888 shares in the company, valued at approximately $2,436,924.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Preto Joseph Del sold 1,500 shares of the firm’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 transaction, the chief financial officer now directly owns 127,322 shares in the company, valued at $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 over the last quarter. 10.97% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sprout Social

Several hedge funds have recently bought and sold shares of the company. Fidelis Capital Partners LLC bought a new position in Sprout Social in the first quarter valued at about $27,000. RiverPark Advisors LLC bought a new position in Sprout Social in the 3rd quarter valued at approximately $37,000. Guinness Atkinson Asset Management Inc bought a new position in Sprout Social in the 3rd quarter valued at approximately $40,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Sprout Social during the 3rd quarter valued at $47,000. Finally, Arcadia Investment Management Corp MI raised its position in Sprout Social by 36.7% in the fourth quarter. Arcadia Investment Management Corp MI now owns 1,047 shares of the company’s stock valued at $64,000 after purchasing 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.