Baird Downgrades Sprout Social to Neutral, Lowers Price Target to $45
Portfolio Pulse from Benzinga Newsdesk
Baird analyst Rob Oliver downgraded Sprout Social (NASDAQ:SPT) from Outperform to Neutral and reduced the price target from $72 to $45, indicating a more cautious outlook on the company's stock.
May 03, 2024 | 9:21 am
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NEGATIVE IMPACT
Sprout Social was downgraded by Baird from Outperform to Neutral, with a significant reduction in price target from $72 to $45.
The downgrade by Baird from Outperform to Neutral and the reduction in price target from $72 to $45 suggests a less optimistic view on Sprout Social's future stock performance. This could lead to a negative short-term impact on the stock price as investors adjust their expectations based on this new analyst rating.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100