Sprout Social (NASDAQ:SPT) Sets New 52-Week Low – Here’s Why

Sprout Social, Inc. (NASDAQ:SPT) hit a new 52-week low during mid-day trading on Friday . The stock 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.

Wall Street Analysts Forecast Growth

SPT has been the topic of several recent analyst reports. The Goldman Sachs Group decreased their price target on Sprout Social from $34.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Barclays cut their price target on Sprout Social from $38.00 to $34.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Jefferies Financial Group lifted their price objective on Sprout Social from $34.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Stifel Nicolaus cut their target price on shares of Sprout Social from $45.00 to $34.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Finally, Scotiabank decreased their price target on shares of Sprout Social from $28.00 to $25.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. One investment 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. Based on data from MarketBeat.com, Sprout Social has a consensus rating of “Hold” and a consensus target price of $33.85.

Sprout Social Stock Down 3.0 %

The firm’s 50 day simple moving average is $31.05 and its 200 day simple moving average is $30.32. The company has a market cap of $1.42 billion, a price-to-earnings ratio of -20.62 and a beta of 1.11. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19.

Sprout Social (NASDAQ:SPT) last announced its earnings results 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). The firm had revenue of $107.09 million for 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%. Sell-side analysts anticipate that Sprout Social, Inc. will post -0.99 EPS for the current fiscal year.

Insider Buying and Selling at Sprout Social

In other Sprout Social news, Director Karen Walker sold 5,000 shares of Sprout Social stock in a transaction on Friday, December 13th. The shares were sold at an average price of $34.24, for a total transaction of $171,200.00. Following the completion of the transaction, the director now directly owns 35,665 shares of the company’s stock, valued at $1,221,169.60. The trade was a 12.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Justyn Russell Howard sold 40,000 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $32.59, for a total value of $1,303,600.00. Following the transaction, the insider now owns 7,417 shares in the company, valued at $241,720.03. The trade was a 84.36 % 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 worth $3,413,532. Company insiders own 10.97% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SPT. Vanguard Group Inc. lifted its holdings in shares of Sprout Social by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 5,886,167 shares of the company’s stock worth $180,764,000 after acquiring an additional 141,141 shares during the last quarter. Cadian Capital Management LP lifted its holdings in shares of Sprout Social by 6.1% during 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 raised its stake in shares of Sprout Social by 16.0% in the third quarter. Wellington Management Group LLP now owns 3,762,443 shares of the company’s stock worth $109,374,000 after buying an additional 519,406 shares during the period. Dorsey Asset Management LLC boosted its position in shares of Sprout Social by 16.7% during the 4th quarter. Dorsey Asset Management LLC now owns 2,306,149 shares of the company’s stock valued at $70,822,000 after acquiring an additional 330,155 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in Sprout Social by 0.3% in the 4th quarter. Jennison Associates LLC now owns 2,171,567 shares of the company’s stock valued at $66,689,000 after buying an additional 7,311 shares during the period.

About Sprout Social

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.