Sprout Social (NASDAQ:SPT) Hits New 12-Month Low – What’s Next?

Sprout Social, Inc. (NASDAQ:SPT)’s share price hit a new 52-week low on Thursday . The stock traded as low as $19.21 and last traded at $20.46, with a volume of 109914 shares. The stock had previously closed at $22.54.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SPT. Barclays lowered their price objective on Sprout Social from $38.00 to $34.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Canaccord Genuity Group decreased their price target on shares of Sprout Social from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Needham & Company LLC cut their price objective on shares of Sprout Social from $55.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. The Goldman Sachs Group decreased their target price on Sprout Social from $34.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Finally, Scotiabank dropped their price target on Sprout Social from $28.00 to $25.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $33.85.

Sprout Social Trading Down 9.6 %

The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a fifty day simple moving average of $28.14 and a two-hundred day simple moving average of $29.50. The firm has a market capitalization of $1.18 billion, a P/E ratio of -16.88 and a beta of 1.11.

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

Insider Activity

In related news, Director Aaron Edward Frederick Rankin sold 23,646 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $24.58, for a total value of $581,218.68. Following the sale, the director now owns 42,122 shares in the company, valued at approximately $1,035,358.76. This trade represents a 35.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Karen Walker sold 5,000 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $30.26, for a total value of $151,300.00. Following the transaction, the director now owns 30,665 shares of the company’s stock, valued at approximately $927,922.90. The trade was a 14.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 108,646 shares of company stock worth $3,302,919. 10.97% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SPT. Charles Schwab Investment Management Inc. increased its stake in Sprout Social by 2.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 410,411 shares of the company’s stock valued at $11,931,000 after acquiring an additional 8,028 shares during the last quarter. FMR LLC raised its stake in shares of Sprout Social by 21.4% during the third quarter. FMR LLC now owns 48,599 shares of the company’s stock worth $1,413,000 after acquiring an additional 8,553 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Sprout Social by 12.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,002 shares of the company’s stock valued at $407,000 after acquiring an additional 1,539 shares during the last quarter. Centiva Capital LP lifted its holdings in Sprout Social by 109.1% in the 3rd quarter. Centiva Capital LP now owns 44,854 shares of the company’s stock worth $1,304,000 after buying an additional 23,400 shares during the period. Finally, Point72 DIFC Ltd bought a new stake in shares of Sprout Social in the 3rd quarter worth approximately $376,000.

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.