Sprout Social’s (SPT) “Market Perform” Rating Reiterated at William Blair

William Blair restated their market perform rating on shares of Sprout Social (NASDAQ:SPT) in a research report sent to investors on Friday morning, Marketbeat reports.

Several other brokerages have also recently issued reports on SPT. Canaccord Genuity Group restated a buy rating and issued a $70.00 target price on shares of Sprout Social in a report on Wednesday, February 21st. Barclays cut their price objective on Sprout Social from $72.00 to $50.00 and set an overweight rating for the company in a report on Friday. Stifel Nicolaus raised their target price on Sprout Social from $60.00 to $70.00 and gave the stock a buy rating in a research report on Friday, January 19th. Robert W. Baird cut Sprout Social from an outperform rating to a neutral rating and decreased their target price for the stock from $72.00 to $45.00 in a report on Friday. Finally, Jefferies Financial Group started coverage on Sprout Social in a report on Wednesday, February 7th. They set a buy rating and a $76.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $57.07.

Sprout Social Trading Down 1.1 %

NASDAQ:SPT opened at $28.50 on Friday. Sprout Social has a 52 week low of $27.85 and a 52 week high of $68.41. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of -23.06 and a beta of 1.09. The company’s 50 day moving average price is $55.98 and its 200-day moving average price is $56.80. 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 (NASDAQ:SPT) last announced its quarterly earnings results 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 net margin of 19.64% and a negative return on equity of 42.60%. The business had revenue of $93.58 million for the quarter, compared to the consensus estimate of $90.76 million. On average, equities research analysts forecast that Sprout Social will post -1.17 earnings per share for the current fiscal year.

Insider Activity at Sprout Social

In other Sprout Social news, President Ryan Paul Barretto sold 5,600 shares of Sprout Social stock in a transaction on Thursday, April 4th. The shares were 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 of the company’s stock, valued at $11,286,066.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, President Ryan Paul Barretto sold 5,600 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $56.95, for a total value of $318,920.00. Following the sale, the president now directly owns 198,175 shares of the company’s stock, valued at approximately $11,286,066.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Justyn Russell Howard sold 40,000 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $58.36, for a total transaction of $2,334,400.00. Following the completion of the sale, the chief executive officer now directly owns 287,912 shares of the company’s stock, valued at approximately $16,802,544.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,100 shares of company stock worth $5,126,065. Company insiders own 10.97% of the company’s stock.

Hedge Funds Weigh In On Sprout Social

A number of large investors have recently bought and sold shares of the business. RiverPark Advisors LLC increased its stake in Sprout Social by 361.1% in the first quarter. RiverPark Advisors LLC now owns 5,750 shares of the company’s stock worth $343,000 after purchasing an additional 4,503 shares during the period. Jennison Associates LLC grew its holdings in shares of Sprout Social by 17.0% in the first quarter. Jennison Associates LLC now owns 2,137,422 shares of the company’s stock worth $127,625,000 after purchasing an additional 311,146 shares during the last quarter. Fidelis Capital Partners LLC purchased a new position in Sprout Social in the 1st quarter worth about $27,000. Allspring Global Investments Holdings LLC boosted its position in Sprout Social by 2.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 334,661 shares of the company’s stock valued at $19,983,000 after buying an additional 7,194 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Sprout Social by 1.6% during the first quarter. Principal Financial Group Inc. now owns 881,101 shares of the company’s stock worth $52,611,000 after acquiring an additional 13,472 shares during the period.

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.