Stifel analyst J. Parker Lane lowered the firm’s price target on Sprout Social to $60 from $75 and keeps a Buy rating on the shares. The company’s results were a "mixed bag," with modest upside in revenue, margins, and cash flows, but light bookings and ARR, the analyst tells investors. Stifel believes unit economics and profit potential of the business will continue to improve throughout the year, which will provide upside to margin and cash flow targets.
Published first on TheFly
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