SPT - Sprout Social drops amid new short report from Akram's Razor

2023-04-05 10:25:40 ET

• Sprout Social Inc. ( NASDAQ: SPT ) fell 11% amid a new short report from Akram's Razor, which sees 40%-60% downside over the next six months.
• The "Razor's Edge" short report argues that the Sprout Social ( SPT ) is trading at a "nosebleed" valuation for a company that is likely to head into into a near-term "growth wall."
• Akram sees Sprout shares trading to $26 over the next six months and potentially "notably lower" over the next 12-18 months, according to the report , which is dated Tuesday.
• Akram's Razor has a short position in the stock.
• Sprout Social ( SPT ) didn't immediately return a Seeking Alpha email request for comment.
• Sprout Social ( SPT ) has short interest of 12.4%.
• Also see SA contributor Bert Hochfeld's piece from last month entitled "Sprout Social: This Is The Season For Growth And Flowering."

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