Have you noticed Sprout Social has held up better than many other zippy web stks.?
Sprouts Social expected to benefit from new social commerce integrations
Jul. 16, 2021 7:43 AM ETSprout Social, Inc. (SPT)
Sprouts Social expected to benefit from new social commerce integrations
Jul. 16, 2021 7:43 AM ETSprout Social, Inc. (SPT)
- Needham updates on the announcement by Sprouts Social (NASDAQ:SPT) on new social commerce integrations with Facebook Shops and Shopify.
- The firm sees an advantage for Sprouts with the functionality of the new integrations appearing to be the first among social media management vendors.
- Analyst Scott Berg: "We view this announcement as a significant opportunity to expand SPT's TAM by further extending its use into the front office from initial customer care usage. Domestic Social Commerce sales remain in an infancy stage growing 39% annually in 2020 to $37B in sales but with over $250B of spend in a more mature Chinese market, we think the domestic Social Commerce growth opportunity can easily be multiples of current levels which could drive strong SPT seat expansion to support these incremental sales."
- Needham keeps a Buy rating on Sprouts and price target of $100.