Sprout Social initiated with a Buy at Jefferies

Jefferies initiated coverage of Sprout Social with a Buy rating and $76 price target. The company has a market leading platform and strong partnerships, along with favorable secular tailwinds, product expansion, and increased focus on upselling, the analyst tells investors in a research note. This provides the company with runway for over 25% annual growth and $1B in revenues by 2028, contends Jefferies.