Sprout Social downgraded to Hold from Buy at Canaccord

Canaccord downgraded Sprout Social (SPT) to Hold from Buy with a price target of $9, down from $16. The firm says the company’s “slowing signals” persisted in Q4. Sprout Social’s upside from is unclear, the analyst tells investors in a research note. Canaccord points out the company’s remaining performance obligation growth of 14% in the quarter was down from 17% in Q3 and 26% a year ago.