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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
- Analysts cut their price targets on Sprout Social Inc (NASDAQ:SPT) post Q4 results.
- Needham analyst Scott Berg lowered the price target to $75 from $160 (37% upside) given the significant multiple compression across high growth software but kept a Buy.
- The company's Q4 results were "impressive," highlighted by the acceleration of upmarket demand, record large customer adds driven by go-to-market execution, seat/use case expansion, and premium module uptake.
- This year, Sprout expects to accelerate growth investments while still delivering margin expansion, further cementing the company's leadership.
- Canaccord analyst David Hynes reduced the price target to $75 from $155 and kept a Buy.
- The analyst said he suspects the only real question coming out of this quarter could be the durability of net new customer growth in the 1,000+ range.
- Perhaps the mix shifts away from volume and more towards strategic value and account spend growth. However, Hynes thinks Sprout is an attractive opportunity for SMID cap growth investors.
- Piper Sandler analyst Clarke Jeffries maintained an Overweight and lowered the price target from $125 to $98 (79% upside).
- Barclays analyst Raimo Lenschow maintained an Overweight and lowered the price target from $92 to $73 (33% upside).
- Morgan Stanley maintained an Equal-Weight and lowered the price target from $110 to $70 (28% upside).
- Stifel analyst Parker Lane maintained a Buy and lowered the price target from $155 to $100 (82% upside).
- Price Action: SPT shares traded higher by 3.62% at $54.97 on the last check Wednesday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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