Shares of Sprout Social, Inc. (SPT) are defying expectations in Friday's pre-market session, soaring 5.46% despite a series of target price cuts from multiple analysts. This surprising rally comes in the face of what would typically be considered bearish news for the social media management software company.

Several prominent analyst firms have lowered their price targets for Sprout Social. Oppenheimer reduced its target from $38 to $32, while Canaccord Genuity cut its projection from $35 to $30. Stifel also joined the chorus, trimming its target from $34 to $30. These reductions would normally be expected to put downward pressure on a stock's price.

However, investors appear to be viewing these target price adjustments in a positive light, possibly interpreting them as less severe than anticipated. The pre-market surge might indicate a relief rally if the stock had previously experienced declines in anticipation of more drastic cuts. Alternatively, there could be other positive factors at play that are not reflected in the currently available news. As the regular trading session approaches, market participants will be closely watching to see if this unexpected momentum can be sustained throughout the day.