Sprout Social (NASDAQ:SPT) Hits New 12-Month Low - Here's Why

Shares of Sprout Social, Inc. (NASDAQ:SPT - Get Free Report) reached a new 52-week low on Thursday . The company traded as low as $19.21 and last traded at $20.46, with a volume of 109914 shares changing hands. The stock had previously closed at $22.54.

Wall Street Analysts Forecast Growth

SPT has been the subject of a number of analyst reports. Piper Sandler cut their price objective on shares of Sprout Social from $29.00 to $27.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. Morgan Stanley cut their price target on shares of Sprout Social from $37.00 to $30.00 and set an "equal weight" rating for the company in a report on Wednesday, February 26th. Barclays decreased their price target on shares of Sprout Social from $38.00 to $34.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Scotiabank lowered their price objective on Sprout Social from $28.00 to $25.00 and set a "sector perform" rating on the stock in a research report on Thursday, February 27th. Finally, Needham & Company LLC decreased their target price on 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 issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Sprout Social currently has a consensus rating of "Hold" and a consensus target price of $33.85.

Sprout Social Stock Performance

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 company has a 50 day simple moving average of $27.35 and a 200-day simple moving average of $29.33. The firm has a market cap of $1.12 billion, a PE ratio of -16.07 and a beta of 1.11.

Remove Ads

Sprout Social (NASDAQ:SPT - Get Free Report) 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 business had revenue of $107.09 million during the quarter, compared to analysts' expectations of $106.74 million. As a group, equities research analysts anticipate that Sprout Social, Inc. will post -0.99 EPS for the current year.

Insider Activity

In other Sprout Social news, Director Karen Walker sold 5,000 shares of the firm's stock in a transaction on Monday, January 13th. The shares were sold at an average price of $30.26, for a total value of $151,300.00. Following the sale, the director now owns 30,665 shares of the company's stock, valued at $927,922.90. This trade represents a 14.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Paul Barretto sold 16,800 shares of the business's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $19.90, for a total transaction of $334,320.00. Following the completion of the transaction, the chief executive officer now owns 136,575 shares in the company, valued at $2,717,842.50. The trade was a 10.95 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 165,446 shares of company stock valued at $4,436,839. 10.97% of the stock is currently owned by insiders.

Institutional Trading of Sprout Social

Several large investors have recently modified their holdings of the business. Versant Capital Management Inc lifted its holdings in Sprout Social by 1,319.4% in the 1st quarter. Versant Capital Management Inc now owns 1,462 shares of the company's stock worth $32,000 after buying an additional 1,359 shares during the period. Quarry LP increased its stake in shares of Sprout Social by 100.9% during the third quarter. Quarry LP now owns 1,573 shares of the company's stock valued at $46,000 after buying an additional 790 shares during the period. US Bancorp DE raised its holdings in shares of Sprout Social by 2,392.6% during the fourth quarter. US Bancorp DE now owns 1,695 shares of the company's stock valued at $52,000 after acquiring an additional 1,627 shares in the last quarter. KBC Group NV lifted its stake in Sprout Social by 77.1% in the fourth quarter. KBC Group NV now owns 2,525 shares of the company's stock worth $78,000 after acquiring an additional 1,099 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Sprout Social by 19,500.0% in the first quarter. GAMMA Investing LLC now owns 9,016 shares of the company's stock valued at $198,000 after acquiring an additional 8,970 shares in 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.