Sprout Social (NASDAQ:SPT) Hits New 52-Week Low – Here’s What Happened

Sprout Social, Inc. (NASDAQ:SPT)’s share price reached a new 52-week low on Friday . The stock traded as low as $22.19 and last traded at $22.47, with a volume of 166635 shares changing hands. The stock had previously closed at $23.51.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SPT. Canaccord Genuity Group cut their price objective on shares of Sprout Social from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Scotiabank dropped 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. Morgan Stanley decreased their price objective on Sprout Social from $37.00 to $30.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. The Goldman Sachs Group dropped their target price on Sprout Social from $34.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Finally, Needham & Company LLC decreased their price target on shares of Sprout Social from $55.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $33.85.

Sprout Social Trading Down 4.2 %

The firm’s fifty day simple moving average is $28.98 and its 200 day simple moving average is $29.59. The stock has a market capitalization of $1.30 billion, a P/E ratio of -18.77 and a beta of 1.11. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.35). Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. The firm had revenue of $107.09 million during the quarter, compared to the consensus estimate of $106.74 million. As a group, equities research analysts forecast that Sprout Social, Inc. will post -0.99 EPS for the current fiscal year.

Insider Transactions at Sprout Social

In other Sprout Social news, insider Justyn Russell Howard sold 40,000 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $32.59, for a total transaction of $1,303,600.00. Following the sale, the insider now owns 7,417 shares of the company’s stock, valued at approximately $241,720.03. The trade was a 84.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Aaron Edward Frederick Rankin sold 23,646 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $24.58, for a total value of $581,218.68. Following the completion of the transaction, the director now owns 42,122 shares of the company’s stock, valued at $1,035,358.76. The trade was a 35.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 125,446 shares of company stock valued at $3,823,551. Corporate insiders own 10.97% of the company’s stock.

Institutional Investors Weigh In On Sprout Social

A number of hedge funds and other institutional investors have recently bought and sold shares of SPT. Stifel Financial Corp raised its position in Sprout Social by 0.4% in the fourth quarter. Stifel Financial Corp now owns 83,141 shares of the company’s stock valued at $2,553,000 after purchasing an additional 351 shares during the last quarter. Invesco Ltd. raised its holdings in Sprout Social by 1.8% in the 4th quarter. Invesco Ltd. now owns 22,861 shares of the company’s stock valued at $702,000 after buying an additional 397 shares during the last quarter. Quarry LP boosted its position in Sprout Social by 100.9% during the 3rd quarter. Quarry LP now owns 1,573 shares of the company’s stock worth $46,000 after buying an additional 790 shares during the period. Franklin Resources Inc. increased its position in Sprout Social by 5.4% in the 3rd quarter. Franklin Resources Inc. now owns 20,256 shares of the company’s stock valued at $576,000 after acquiring an additional 1,034 shares during the period. Finally, Sei Investments Co. raised its stake in shares of Sprout Social by 3.0% during the fourth quarter. Sei Investments Co. now owns 35,893 shares of the company’s stock valued at $1,102,000 after acquiring an additional 1,038 shares during 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.