BTIG analyst Matt VanVliet lowered the firm’s price target on Sprout Social to $76 from $100 but keeps a Buy rating on the shares. The company’s Q1 results highlighted the success of its up-market efforts, but also saw higher-than-expected churn at the low end that will negatively impact near-term estimates, the analyst tells investors in a research note. On the positive side, the company delivered 35%-plus annual recurring revenue, or ARR, growth and above-50% ARR growth in Enterprise, BTIG added.
Published first on TheFly
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