Sprout Social (NASDAQ:SPT) Sets New 52-Week Low - Should You Sell?

Shares of Sprout Social, Inc. (NASDAQ:SPT - Get Free Report) reached a new 52-week low on Friday . The company 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.

Analysts Set New Price Targets

Several brokerages recently issued reports on SPT. Barclays cut their target price on Sprout Social from $38.00 to $34.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Piper Sandler lowered their target price on shares of Sprout Social from $29.00 to $27.00 and set a "neutral" rating for the company in a report on Wednesday, February 26th. Needham & Company LLC decreased their price objective on shares of Sprout Social from $55.00 to $32.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. Scotiabank cut their target price 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. Finally, Stifel Nicolaus decreased their price target on Sprout Social from $45.00 to $34.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $33.85.

Sprout Social Price Performance

The stock has a fifty day moving average of $28.35 and a 200 day moving average of $29.54. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of -18.33 and a beta of 1.11. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96.

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

Insiders Place Their Bets

In other news, Director Aaron Edward Frederick Rankin sold 23,646 shares of the business's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $24.58, for a total transaction of $581,218.68. Following the completion of the sale, the director now owns 42,122 shares in the company, valued at approximately $1,035,358.76. The trade was a 35.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Justyn Russell Howard sold 40,000 shares of the company's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $32.59, for a total value of $1,303,600.00. Following the completion of the sale, the insider now directly owns 7,417 shares of the company's stock, valued at approximately $241,720.03. This trade represents a 84.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 108,646 shares of company stock worth $3,302,919 over the last three months. Company insiders own 10.97% of the company's stock.

Hedge Funds Weigh In On Sprout Social

A number of large investors have recently made changes to their positions in SPT. Stifel Financial Corp raised its stake in Sprout Social by 0.4% in the 4th 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 stake in Sprout Social by 1.8% during the fourth quarter. Invesco Ltd. now owns 22,861 shares of the company's stock worth $702,000 after purchasing an additional 397 shares during the period. Quarry LP raised its stake in Sprout Social by 100.9% during the third quarter. Quarry LP now owns 1,573 shares of the company's stock worth $46,000 after purchasing an additional 790 shares during the period. Franklin Resources Inc. boosted its holdings in Sprout Social by 5.4% in the third 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 last quarter. Finally, Sei Investments Co. raised its holdings in Sprout Social by 3.0% in the fourth quarter. Sei Investments Co. now owns 35,893 shares of the company's stock valued at $1,102,000 after buying an additional 1,038 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.