Sprout Social initiated with an Overweight at KeyBanc

KeyBanc analyst Jackson Ader initiated coverage of Sprout Social with an Overweight rating and $83 price target. The company offers sustainable 20%-plus revenue growth with potential for reacceleration from the Salesforce partnership, Tagger Media, price increase uplift, and movement upmarket, the analyst tells investors in a research note. The firm believes Sprout maintains an attractive competitive position as it dominates the mid-market and upper small business customer cohorts.