Sprout Social Turnaround Could Take Even Longer Than Expected, Says Bearish Analyst
1
0
Shares of Sprout Social Inc (NASDAQ:SPT) tanked in early trading on Thursday.
The company’s soft performance so far in 2024 suggests that its turnaround will take longer to materialize than was earlier expected, according to KeyBanc Capital Markets.
Analyst Jackson Ader downgraded the rating for Sprout Social from Sector Weight to Underweight, while keeping the price target unchanged at $28.
The Sprout Social Thesis: The company’s bookings this year have been weaker than what “even the sharply slower reported numbers …
Full story available on Benzinga.com
Visited 1 times, 1 visit(s) today