Canaccord lowered the firm’s price target on Sprout Social (SPT) to $25 from $30 and keeps a Buy rating on the shares. The firm updated its model following results and they think Sprout is in a pretty good spot – as yield on organic search seems to be quickly diminishing, it would make sense that brands start to spend more on their social presence for discovery. It’s obviously still very early in this cycle, but it could create a tailwind to demand.
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