Stephens analyst Nicholas Zangler initiated coverage of Sprout Social (SPT) with an Overweight rating and $78 price target. Sprout Social’s social media management platform is the leading workflow solution with over 32,000 customers, the analyst tells investors. The firm, which cites the recent prioritization of high-value mid-market and enterprise clients and the company’s “unique partnership” with CRM leader Salesforce (CRM), believes Sprout is capable of growing revenues at a greater than 25% compound annual growth rate over the next several years.
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