Sprout Social (NASDAQ:SPT) Sets New 12-Month Low - What's Next?

Sprout Social, Inc. (NASDAQ:SPT - Get Free Report) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $24.91 and last traded at $24.44, with a volume of 121662 shares trading hands. The stock had previously closed at $25.56.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SPT. The Goldman Sachs Group cut their price target on Sprout Social from $34.00 to $29.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Morgan Stanley dropped their price target on Sprout Social from $37.00 to $30.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 26th. Barclays decreased their price objective on shares of Sprout Social from $38.00 to $34.00 and set an "overweight" rating for the company 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 research note on Wednesday, February 26th. Finally, Scotiabank cut their price target on shares of 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 assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Sprout Social presently has an average rating of "Hold" and a consensus price target of $33.85.

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Sprout Social Stock Down 0.0 %

The company has a market cap of $1.34 billion, a price-to-earnings ratio of -19.52 and a beta of 1.11. The business has a fifty day moving average of $30.61 and a two-hundred day moving average of $30.07. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19.

Sprout Social (NASDAQ:SPT - Get Free Report) last released its quarterly earnings results 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). The company had revenue of $107.09 million during the quarter, compared to analyst estimates of $106.74 million. Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. As a group, equities analysts anticipate that Sprout Social, Inc. will post -0.99 EPS for the current fiscal year.

Insider Activity at Sprout Social

In other Sprout Social news, insider Justyn Russell Howard sold 40,000 shares of the firm's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $31.67, for a total value of $1,266,800.00. Following the completion of the sale, the insider now directly owns 27,136 shares of the company's stock, valued at $859,397.12. This trade represents a 59.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Karen Walker sold 5,000 shares of the business's stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $34.24, for a total transaction of $171,200.00. Following the transaction, the director now directly owns 35,665 shares in the company, valued at approximately $1,221,169.60. The trade was a 12.30 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 106,800 shares of company stock valued at $3,413,532. 10.97% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Sprout Social by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 5,886,167 shares of the company's stock valued at $180,764,000 after purchasing an additional 141,141 shares during the last quarter. Cadian Capital Management LP raised its holdings in shares of Sprout Social by 6.1% in the 4th quarter. Cadian Capital Management LP now owns 4,548,323 shares of the company's stock valued at $139,679,000 after buying an additional 263,267 shares during the period. Wellington Management Group LLP lifted its stake in Sprout Social by 16.0% during the 3rd quarter. Wellington Management Group LLP now owns 3,762,443 shares of the company's stock worth $109,374,000 after acquiring an additional 519,406 shares in the last quarter. Dorsey Asset Management LLC increased its stake in Sprout Social by 16.7% during the fourth quarter. Dorsey Asset Management LLC now owns 2,306,149 shares of the company's stock worth $70,822,000 after purchasing an additional 330,155 shares during the period. Finally, Jennison Associates LLC boosted its stake in shares of Sprout Social by 0.3% in the fourth quarter. Jennison Associates LLC now owns 2,171,567 shares of the company's stock valued at $66,689,000 after purchasing an additional 7,311 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.