Sprout Social (NASDAQ:SPT) Sets New 12-Month Low – Here’s What Happened

Shares of Sprout Social, Inc. (NASDAQ:SPT) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $10.33 and last traded at $10.63, with a volume of 1287319 shares trading hands. The stock had previously closed at $10.82.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on SPT shares. The Goldman Sachs Group cut their price target on Sprout Social from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Thursday, August 7th. Oppenheimer cut their target price on shares of Sprout Social from $32.00 to $23.00 and set an “outperform” rating for the company in a research note on Thursday, August 7th. Zacks Research lowered shares of Sprout Social from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 13th. Canaccord Genuity Group lowered their price target on shares of Sprout Social from $30.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, August 7th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Sprout Social in a research report on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $27.36.

Sprout Social Stock Performance

The company has a market cap of $658.67 million, a price-to-earnings ratio of -11.79 and a beta of 0.84. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.08. The stock’s 50 day moving average price is $13.68 and its 200 day moving average price is $17.95.

Sprout Social (NASDAQ:SPT) last released its earnings results on Wednesday, August 6th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.03. Sprout Social had a negative net margin of 12.70% and a negative return on equity of 25.95%. The business had revenue of $111.78 million for the quarter, compared to analysts’ expectations of $110.93 million. During the same period last year, the company earned $0.09 earnings per share. The company’s quarterly revenue was up 12.5% on a year-over-year basis. On average, analysts expect that Sprout Social, Inc. will post -0.99 EPS for the current fiscal year.

Insider Activity at Sprout Social

In related news, insider Justyn Russell Howard sold 20,000 shares of the stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $11.81, for a total value of $236,200.00. Following the transaction, the insider directly owned 7,417 shares of the company’s stock, valued at approximately $87,594.77. This trade represents a 72.95% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders sold 50,566 shares of company stock worth $695,181. Corporate insiders own 10.12% of the company’s stock.

Institutional Investors Weigh In On Sprout Social

Several large investors have recently made changes to their positions in SPT. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Sprout Social by 11.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,976 shares of the company’s stock valued at $373,000 after acquiring an additional 1,703 shares in the last quarter. Cubist Systematic Strategies LLC lifted its stake in shares of Sprout Social by 633.2% during the first quarter. Cubist Systematic Strategies LLC now owns 85,056 shares of the company’s stock worth $1,870,000 after purchasing an additional 73,456 shares in the last quarter. Brighton Jones LLC lifted its stake in shares of Sprout Social by 391.7% during the fourth quarter. Brighton Jones LLC now owns 35,985 shares of the company’s stock worth $1,105,000 after purchasing an additional 28,667 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Sprout Social in the first quarter worth about $363,000. Finally, Invenomic Capital Management LP acquired a new stake in shares of Sprout Social in the first quarter valued at about $3,034,000.

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.