Sprout Social ticks up as Baird sees new interest from GARP investors

seekingalpha06-28

Sprout Social (NASDAQ:SPT) was in focus on Thursday as investment firm Baird said it is seeing a "new class of investors" focusing on small-cap stocks, especially those who focus on growth at a ...

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Shares rose slightly more than 3% in afternoon trading. \"GARP investors have been getting to know the story with an eye towards becoming comfortable with the growth potential,\" analyst Rob Oliver wrote in an investor note. \"That said, we expect shares to be range-bound until the company can demonstrate that: recently lowered guidance is in the right spot; sales execution challenges have moderated; and [the] company has a better handle on the enterprise go-to-market.  Upcoming catalysts for the stock include second-quarter earnings (slated to be released in early August), prior to when Baird will meet with company management to discuss its business further in depth. Oliver has a Neutral rating on Sprout Social and lowered his price target to $38 from $45. Oliver added that investors may have felt \"blindsided\" after Sprout reduced guidance. The company is working through some issues, including the need for operational improvements, further share gain in the enterprise and better performance from its Tagger tool. It has also seen management upheaval in recent memory, transitioning in April from founder Justyn Howard to President and Chief Operating Officer Ryan Barretto. The move will take place effective October 1. \"Management stressed that this change was widely anticipated internally, and as such, they expect no disruption,\" Oliver wrote.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.28.3","shortVersion":"4.28.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2446562755"}