Canaccord Genuity Maintains Buy on Sprout Social, Lowers Price Target to $50
Portfolio Pulse from Benzinga Newsdesk
Canaccord Genuity analyst David Hynes maintains a Buy rating on Sprout Social (NASDAQ:SPT) but lowers the price target from $70 to $50.
May 03, 2024 | 9:34 pm
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Canaccord Genuity maintains a Buy rating on Sprout Social but lowers the price target from $70 to $50.
While the reduction in price target from $70 to $50 could suggest a reassessment of Sprout Social's near-term growth prospects or market conditions, the maintenance of a Buy rating indicates continued confidence in the company's fundamentals. This mixed signal could lead to short-term market uncertainty for SPT, but the maintained Buy rating suggests underlying strength.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100