Sprout Social (NASDAQ:SPT) Receives "Neutral" Rating from Cantor Fitzgerald

Sprout Social (NASDAQ:SPT - Get Free Report)'s stock had its "neutral" rating restated by research analysts at Cantor Fitzgerald in a research note issued to investors on Tuesday, MarketBeat.com reports. They presently have a $24.00 price target on the stock. Cantor Fitzgerald's target price would indicate a potential upside of 9.79% from the company's previous close. Cantor Fitzgerald also issued estimates for Sprout Social's FY2025 earnings at ($0.79) EPS.

A number of other research firms have also commented on SPT. Stifel Nicolaus lowered their price objective 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. Morgan Stanley lowered their price target on Sprout Social from $30.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Needham & Company LLC restated a "buy" rating and issued a $32.00 price objective on shares of Sprout Social in a report on Wednesday, May 28th. Barclays decreased their target price on Sprout Social from $34.00 to $26.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Finally, The Goldman Sachs Group dropped their price target on shares of Sprout Social from $29.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $30.00.

Sprout Social Stock Performance

Shares of NASDAQ:SPT traded down $0.16 on Tuesday, hitting $21.86. The company's stock had a trading volume of 443,856 shares, compared to its average volume of 629,369. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of -18.22 and a beta of 1.04. 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 has a 12 month low of $18.52 and a 12 month high of $39.75. The stock's 50-day moving average is $21.27 and its two-hundred day moving average is $27.19.

Sprout Social (NASDAQ:SPT - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.07. The business had revenue of $109.29 million during the quarter, compared to the consensus estimate of $107.63 million. Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. The company's quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.10 earnings per share. On average, equities research analysts forecast that Sprout Social will post -0.99 EPS for the current year.

Insiders Place Their Bets

In related news, Director Aaron Edward Frederick Rankin sold 23,646 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $24.58, for a total value of $581,218.68. Following the completion of the sale, the director now directly owns 42,122 shares of the company's stock, valued at approximately $1,035,358.76. This represents a 35.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Justyn Russell Howard sold 40,000 shares of the firm's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $19.99, for a total value of $799,600.00. Following the sale, the insider now owns 7,417 shares of the company's stock, valued at $148,265.83. The trade was a 84.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 176,021 shares of company stock worth $3,738,636. Company insiders own 10.12% of the company's stock.

Hedge Funds Weigh In On Sprout Social

Institutional investors and hedge funds have recently bought and sold shares of the business. Versant Capital Management Inc grew its position in Sprout Social by 1,319.4% during the first quarter. Versant Capital Management Inc now owns 1,462 shares of the company's stock valued at $32,000 after purchasing an additional 1,359 shares in the last quarter. Quarry LP grew its holdings in shares of Sprout Social by 85.2% during the 1st quarter. Quarry LP now owns 1,463 shares of the company's stock valued at $32,000 after acquiring an additional 673 shares in the last quarter. US Bancorp DE grew its holdings in shares of Sprout Social by 2,392.6% during the 4th quarter. US Bancorp DE now owns 1,695 shares of the company's stock valued at $52,000 after acquiring an additional 1,627 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Sprout Social in the first quarter worth $47,000. Finally, KBC Group NV raised its holdings in shares of Sprout Social by 77.1% during the fourth quarter. KBC Group NV now owns 2,525 shares of the company's stock worth $78,000 after acquiring an additional 1,099 shares in the last quarter.

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.