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Here are the biggest calls on Wall Street on Monday:
Needham said in its initiation of the social media management and optimization platform for brands that it sees an "attractive" entry point.
" We see Sprout Social as an excellent way to invest in the explosive growth of the large, lightly penetrated, $25B+ TAM social media market. SPT offers a highly differentiated platform that serves the hot Customer Experience Management space, and benefits from favorable unit economics and strong secular growth. As such, we believe the stock, priced at an EV/revenue multiple of 10x our FY21 estimate, trades at an attractive entry point for growth investors."
Susquehanna raised its price target on the stock to a Street high after the company's acquistion of fitness start-up Mirror earlier this summer. The firm said the acquisition provides an "incremental revenue stream" that will grow "significantly."
"Underlying momentum continues to build faster than most peers as headwinds from the crisis slowly abate. Further, MIRROR adds another piece to LULU's already best-in-class customer engagement arsenal as well as another leg of growth. The acquisition provides an incremental revenue stream that will grow significantly over the next 3-5 years, in our view. Coupled with whitespace opportunities in geographies & categories for both the underlying business and MIRROR, we believe the stock will grow into its high valuation."