Sprout Social price target lowered to $13 from $21 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on Sprout Social (SPT) to $13 from $21 and keeps a Neutral rating on the shares. Sprout’s revenue modestly exceeded expectations, with profitability outperforming partly due to the timing of hiring, while FY guidance was narrowed against a low bar, the analyst tells investors in a research note. Deceleration in forward-looking metrics like cRPO/RPO maintains uncertainty around long-term growth, with further proof needed that the slowdown has been contained, Goldman says.