Sprout Social downgraded to Neutral at Cantor Fitzgerald on Monday

Cantor Fitzgerald analyst Brett Knoblauch on Monday downgraded Sprout Social to Neutral from Overweight with a price target of $53, down from $62. Sprout will be be raising prices in a period when budgets are being much more scrutinized, and in a period when advertising, particularly on social media platforms, is seen as less attractive, the analyst tells investors in a research note. The firm also has declining confidence in Sprout’s long-term ARR growth outlook and says its shift up-market comes with greater execution risk.