Sprout Social price target raised to $66 from $62 at Piper Sandler

Piper Sandler analyst Clarke Jeffries raised the firm’s price target on Sprout Social to $66 from $62 and keeps an Overweight rating on the shares. At face value, Sprout Social reported Q4 numbers and FY24 guidance were in line to slightly above consensus estimates, the firm says. However, results fit within a broader ongoing investor debate on Sprout Social’s organic growth prospects, Piper believes. From the firm’s vantage point, its organic numbers are going down, but very modestly. The 11% decline in the stock after hours feels overdone to Piper.