Sprout Social price target lowered to $35 from $40 at Canaccord

Canaccord lowered the firm’s price target on Sprout Social (SPT) to $35 from $40 and keeps a Buy rating on the shares. The firm said Q4 results were a bit better than expected as calculated billings growth accelerated to 22%, the best growth rate in a year, dollars added to cRPO in Q4 weren’t far off from a year ago, and customer additions improved notably from a year ago.