Weiss Ratings Reaffirms “Sell (E+)” Rating for Sprout Social (NASDAQ:SPT)

Sprout Social (NASDAQ:SPT)‘s stock had its “sell (e+)” rating reaffirmed by research analysts at Weiss Ratings in a research note issued to investors on Saturday,Weiss Ratings reports.

Several other research firms have also issued reports on SPT. The Goldman Sachs Group reduced their target price on Sprout Social from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Thursday, August 7th. Oppenheimer reduced their target price on Sprout Social from $32.00 to $23.00 and set an “outperform” rating on the stock in a report on Thursday, August 7th. Zacks Research lowered Sprout Social from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 13th. Finally, Canaccord Genuity Group reduced their target price on Sprout Social from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, August 7th. Six investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $27.36.

Sprout Social Stock Performance

Shares of NASDAQ SPT opened at $11.25 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.00 and a quick ratio of 1.00. The stock’s fifty day moving average price is $13.51 and its two-hundred day moving average price is $17.75. Sprout Social has a one year low of $10.33 and a one year high of $36.30. The firm has a market cap of $661.61 million, a price-to-earnings ratio of -11.84 and a beta of 0.84.

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. The company had revenue of $111.78 million for the quarter, compared to analyst estimates of $110.93 million. Sprout Social had a negative return on equity of 25.95% and a negative net margin of 12.70%.Sprout Social’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.09 EPS. On average, equities analysts forecast that Sprout Social will post -0.99 EPS for the current year.

Insiders Place Their Bets

In related news, insider Justyn Russell Howard sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $11.81, for a total value of $236,200.00. Following the sale, the insider directly owned 7,417 shares of the company’s stock, valued at $87,594.77. This trade represents a 72.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders sold 50,566 shares of company stock valued at $695,181 over the last quarter. Company insiders own 10.12% of the company’s stock.

Hedge Funds Weigh In On Sprout Social

Several large investors have recently bought and sold shares of SPT. Brighton Jones LLC raised its position in Sprout Social by 391.7% in 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 during the last quarter. Peregrine Capital Management LLC raised its position in Sprout Social by 3.3% in the first quarter. Peregrine Capital Management LLC now owns 178,411 shares of the company’s stock valued at $3,923,000 after purchasing an additional 5,709 shares during the last quarter. RedJay Asset Management Inc. bought a new position in Sprout Social in the first quarter valued at about $2,199,000. Teacher Retirement System of Texas bought a new position in Sprout Social in the first quarter valued at about $363,000. Finally, Bank of New York Mellon Corp raised its position in Sprout Social by 17.8% in the first quarter. Bank of New York Mellon Corp now owns 381,009 shares of the company’s stock valued at $8,378,000 after purchasing an additional 57,632 shares during 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.