Piper Sandler Downgrades Sprout Social to Neutral, Lowers Price Target to $40
Portfolio Pulse from Benzinga Newsdesk
Piper Sandler analyst Clarke Jeffries downgraded Sprout Social (SPT) from Overweight to Neutral and reduced the price target from $66 to $40, indicating a more cautious outlook on the company's stock.
May 03, 2024 | 9:13 am
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Sprout Social was downgraded by Piper Sandler from Overweight to Neutral, with a significant reduction in price target from $66 to $40.
The downgrade by a prominent analyst firm like Piper Sandler, accompanied by a substantial decrease in the price target, typically signals a bearish outlook on the stock. This could lead to short-term negative sentiment among investors, potentially causing a decrease in stock price.
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