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Analysts Continue To See Sharp Upside In Sprout Social Post Q4 Results

Published 23/02/2022, 20:10
© Reuters.  Analysts Continue To See Sharp Upside In Sprout Social Post Q4 Results
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  • Analysts cut their price targets on Sprout Social Inc (NASDAQ: SPT) post Q4 results.
  • Needham analyst Scott Berg lowered the price target to $75 from $160 (37% upside) given the significant multiple compression across high growth software but kept a Buy.
  • The company's Q4 results were "impressive," highlighted by the acceleration of upmarket demand, record large customer adds driven by go-to-market execution, seat/use case expansion, and premium module uptake.
  • This year, Sprout expects to accelerate growth investments while still delivering margin expansion, further cementing the company's leadership.
  • Canaccord analyst David Hynes reduced the price target to $75 from $155 and kept a Buy.
  • The analyst said he suspects the only real question coming out of this quarter could be the durability of net new customer growth in the 1,000+ range.
  • Perhaps the mix shifts away from volume and more towards strategic value and account spend growth. However, Hynes thinks Sprout is an attractive opportunity for SMID cap growth investors.
  • Piper Sandler analyst Clarke Jeffries maintained an Overweight and lowered the price target from $125 to $98 (79% upside).
  • Barclays (LON:BARC) analyst Raimo Lenschow maintained an Overweight and lowered the price target from $92 to $73 (33% upside).
  • Morgan Stanley (NYSE:MS) maintained an Equal-Weight and lowered the price target from $110 to $70 (28% upside).
  • Stifel analyst Parker Lane maintained a Buy and lowered the price target from $155 to $100 (82% upside).
  • Price Action: SPT shares traded higher by 3.62% at $54.97 on the last check Wednesday.
Latest Ratings for SPT DateFirmActionFromTo
Feb 2022StifelMaintainsBuy
Feb 2022Morgan StanleyMaintainsEqual-Weight
Feb 2022NeedhamMaintainsBuy
View More Analyst Ratings for SPT

View the Latest Analyst Ratings

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