Sprout Social price target lowered to $70 from $76 at BTIG

BTIG lowered the firm’s price target on Sprout Social to $70 from $76 and keeps a Buy rating on the shares. The firm highlights in a research note on Friday the company reported Q2 results that modestly beat subscription estimates but fell short on guidance even with a new acquisition adding revenue to the mix. BTIG remains positive on the long-term, but lowers its price target to reflect the muted short-term outlook.