Sprout Social (NASDAQ:SPT) Reaches New 1-Year Low After Analyst Downgrade
Sprout Social (NASDAQ:SPT) hit a new 52-week low of $18.58 after Barclays downgraded its price target from $34 to $26, maintaining an overweight rating. Other analysts have also adjusted their targets, with a consensus rating of "Hold" and an average price target of $32.15. Insider trading activity includes significant sales by executives. The stock has a market cap of $1.09 billion and a PE ratio of -15.76, with recent trading down 3.7%.
Sprout Social, Inc. (NASDAQ:SPT - Get Free Report) reached a new 52-week low during trading on Monday after Barclays lowered their price target on the stock from $34.00 to $26.00. Barclays currently has an overweight rating on the stock. Sprout Social traded as low as $18.58 and last traded at $18.61, with a volume of 75012 shares. The stock had previously closed at $19.64.
Get Sprout Social alerts:
- United Natural Foods’ Risk-Reward Tradeoff Looks Appetizing
SPT has been the topic of a number of other reports. Canaccord Genuity Group decreased their price target on Sprout Social from $40.00 to $35.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Morgan Stanley decreased their price target on shares of Sprout Social from $30.00 to $22.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Stifel Nicolaus reduced their target price on Sprout Social from $45.00 to $34.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. Jefferies Financial Group lifted their target price on Sprout Social from $34.00 to $42.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. Finally, Scotiabank reduced their price objective on shares of Sprout Social from $28.00 to $25.00 and set a "sector perform" rating for the company in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, Sprout Social currently has a consensus rating of "Hold" and an average price target of $32.15.
Read Our Latest Report on SPT
Insider Transactions at Sprout Social
- Sprinklr Gets Targets Raised By Analysts, Here's Why
In other news, insider Justyn Russell Howard sold 40,000 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $32.59, for a total transaction of $1,303,600.00. Following the transaction, the insider now directly owns 7,417 shares in the company, valued at approximately $241,720.03. This represents a 84.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Karen Walker sold 5,000 shares of the firm's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $19.42, for a total value of $97,100.00. Following the transaction, the director now directly owns 25,665 shares in the company, valued at $498,414.30. This trade represents a 16.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 125,446 shares of company stock valued at $3,115,839 over the last ninety days. 10.97% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its stake in Sprout Social by 324.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 402,947 shares of the company's stock valued at $11,714,000 after purchasing an additional 307,906 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Sprout Social by 1.9% in the third quarter. Geode Capital Management LLC now owns 1,175,538 shares of the company's stock worth $34,179,000 after purchasing an additional 22,320 shares during the period. Barclays PLC raised its stake in Sprout Social by 339.5% during the 3rd quarter. Barclays PLC now owns 90,234 shares of the company's stock valued at $2,623,000 after purchasing an additional 69,704 shares during the period. Principal Financial Group Inc. grew its position in shares of Sprout Social by 20.0% during the third quarter. Principal Financial Group Inc. now owns 1,199,451 shares of the company's stock valued at $34,868,000 after purchasing an additional 200,190 shares in the last quarter. Finally, Brighton Jones LLC raised its stake in Sprout Social by 391.7% during the fourth quarter. Brighton Jones LLC now owns 35,985 shares of the company's stock valued at $1,105,000 after purchasing an additional 28,667 shares in the last quarter.
Sprout Social Trading Down 3.7 %
- How to Invest in Grocery Stores
The stock has a fifty day moving average price of $24.42 and a 200 day moving average price of $28.64. The stock has a market cap of $1.09 billion, a PE ratio of -15.76 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 - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $106.74 million. Equities analysts expect that Sprout Social, Inc. will post -0.99 EPS for the current year.
Sprout Social Company Profile
(Get Free Report)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.
Recommended Stories
- Five stocks we like better than Sprout Social
- Insider Buying Explained: What Investors Need to Know
- AST SpaceMobile: 5 Reasons to Buy This Tiny Trailblazer Stock
- NYSE Stocks Give Investors a Variety of Quality Options
- Why Call Option Traders Are Targeting This Dividend ETF Now
- About the Markup Calculator
- Is Alphabet Misunderstood? Here’s Why the Bulls Are Buying
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Should You Invest $1,000 in Sprout Social Right Now?
Before you consider Sprout Social, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sprout Social wasn't on the list.
While Sprout Social currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
