Welcome to our dedicated page for Sprout Social news (Ticker: SPT), a resource for investors and traders seeking the latest updates and insights on Sprout Social stock.
Sprout Social, Inc. (NASDAQ: SPT) is a global leader in social media management and analytics software. The company offers a cloud-based platform that unifies social messaging, data, and workflows into a single system of record, intelligence, and action. This allows brands to find, form, and deepen connections with their social audiences.
Sprout Social generates the majority of its revenue from software subscriptions, serving over 30,000 brands worldwide. Their intuitive platform provides comprehensive publishing and engagement functionality, customer care, influencer marketing, advocacy, and AI-powered business intelligence. Sprout’s software is compatible with all major social media networks and digital platforms.
One of the company's notable achievements is the creation of The Arboretum, a community platform that fosters industry connection and mentorship. Recently, Sprout Social introduced a mentorship program within The Arboretum, which has quickly grown to over 10,000 members. This initiative supports marketing and social media professionals by providing opportunities to expand their professional brands, optimize Sprout’s platform, and stay competitive in a fast-paced industry.
Sprout Social has received significant recognition, including being named the #1 Best Software Product by G2's 2024 Best Software Award. The company's recent launch of enhanced AI and automation features aims to improve social strategies and deepen customer connections, addressing challenges in content creation, reporting, and social care.
Financially, Sprout Social is focused on achieving durable, efficient growth. With a recent leadership transition appointing Ryan Barretto as the new CEO, the company aims to scale its business to $1 billion and beyond. This strategic leadership change is expected to drive future growth and innovation.
Sprout Social continues to leverage its social media profiles and investor relations website to communicate material information to investors and the marketplace. For the latest updates, visit sproutsocial.com.
Sprout Social (Nasdaq: SPT) has appointed Mike Wolff as Chief Revenue Officer, effective September 2, 2024. Wolff will oversee Sprout's global Sales, Success, and Partnerships organization, focusing on continued global growth and expansion of the company's innovative offerings. With over 20 years of experience, Wolff previously served as Chief Revenue Officer at Salesforce.org and led Salesforce's Global ISV team. During his 22-year career at Salesforce, he played a key role in scaling the company from less than $50M to $34.9B in annual revenue.
Wolff expressed enthusiasm for helping businesses leverage social media for smarter, faster business impact. Ryan Barretto, President and incoming CEO of Sprout Social, highlighted Wolff's exceptional track record and ability to build high-performing teams as assets for driving growth and efficiency goals while investing in impactful technology partnerships.
Sprout Social (Nasdaq: SPT) reported strong Q2 2024 financial results, surpassing guidance. Key highlights include:
- Revenue of $99.4 million, up 25% year-over-year
- Non-GAAP operating income of $5.3 million
- Non-GAAP net income per share of $0.09
- Total RPO of $295.1 million, up 43% year-over-year
- Customers contributing over $50,000 in ARR grew 38% to 1,545
The company reiterated its 2024 guidance, projecting total revenue between $405.0-$406.0 million and non-GAAP operating income of $28.0-$29.0 million. Sprout Social continues to strengthen its competitive position and product leadership in the social media management software market.
Sprout Social, a leading provider of cloud-based social media management software, has achieved significant recognition in G2's 2024 Summer Reports. The company earned leadership in 211 categories, including small business, mid-market, and enterprise segments across regions such as EMEA, APAC, and the Middle East.
Sprout Social was named G2's #1 Best Software Product for 2024, ranking #1 in 88 reports including Social Customer Service and Social Media Analytics. The company attributes its success to customer reviews and continuous innovations in AI, integrations, and new partnerships.
The company’s recent advancements include AI features, enhanced reporting, network integrations, and a new partnership with Snapchat. These enhancements are part of their strategy to support customers’ significant challenges and drive business impact.
Sprout Social (Nasdaq: SPT) announced plans to report its second quarter 2024 financial results on August 1, 2024, after market close. The results will cover the period ending June 30, 2024.
A conference call and webcast will take place at 4:00 p.m. Central Time (5:00 p.m. Eastern Time) on the same day to discuss the financial results and business highlights. Interested parties can register for the event online, and the live webcast will be accessible through Sprout Social's investor relations website. A replay of the webcast will be available for 12 months following the event.
Sprout Social, a leading provider of cloud-based social media management software, has been named to the 2024 Fortune Best Workplaces in Chicago™ List for the third consecutive year. The recognition is based on nearly 50,000 confidential employee responses evaluating trust in leadership, fair treatment, and team camaraderie.
91% of Sprout Social employees stated it is a great place to work, significantly higher than the 57% average for typical U.S. companies. This achievement reflects Sprout's strong workplace culture and employee satisfaction. Additionally, Sprout Social has been featured on Crain's Fast 50 List for revenue growth and recognized as a Best Company to Work for: Midwest by U.S. News & World Report.
Sprout Social (Nasdaq: SPT), a leading provider of cloud-based social media management software, announced Erika Trautman's appointment as chief product officer effective July 15, 2024. Trautman, who has over 15 years of technology experience, will oversee the global product organization and enhance Sprout’s product offerings. Previously, she held senior roles at Atlassian, where she drove significant revenue growth, and at Google, where she advanced Google Drive and Editors during the pandemic. CEO Justyn Howard expressed excitement about Trautman's potential to accelerate Sprout’s product innovation and growth.
Sprout Social has introduced AI-powered enhancements and 20 new product capabilities aimed at optimizing social media strategies and customer engagement.
Key updates include 'Generate by AI Assist' for accurate alt-text, 'Analyze by AI Assist' for performance trends, and AI solutions that prioritize messages and automate responses.
A new partnership with Snapchat via Tagger enables better market trend exploration and audience connection.
The 'My Reports' interface offers flexible, granular reporting, while new Instagram Threads features enhance engagement and scheduling.
These innovations, gathered from feedback from 30,000 customers, aim to streamline workflows and increase business impact.
Bleichmar Fonti & Auld LLP announces the July 12, 2024, deadline for the Sprout Social (Nasdaq: SPT) Securities Class Action Lawsuit. Initiated on May 13, 2024, the lawsuit alleges that Sprout Social failed to disclose critical information to investors between November 2, 2023, and May 2, 2024. These include inaccurate sales and revenue growth indicators, integration challenges with the Tagger acquisition, and adjusted fiscal year 2024 revenue guidance. Shareholders are encouraged to submit their information for potential participation in the lawsuit. For more details, visit https://www.bfalaw.com/cases/sprout-social-inc-investigation.
On May 24, 2024, Bleichmar Fonti & Auld LLP announced a key deadline in the Sprout Social Securities Class Action Lawsuit. The lawsuit is in response to Sprout Social's 40% stock drop, following allegations of misleading statements about sales, revenue growth, and integration challenges with the acquisition of Tagger. Investors have until July 12, 2024, to participate in the lawsuit which claims that misleading disclosures were made between November 2, 2023, and May 2, 2024. The law firm is reaching out to affected shareholders to discuss representation on a contingency fee basis.
On May 13, 2024, Sprout Social (NASDAQ: SPT) was sued for alleged violations of federal securities laws. The lawsuit claims that between November 2, 2023, and May 2, 2024, the company did not disclose critical information about its business. This includes misleading statements regarding sales and revenue growth, integration challenges with the acquisition of Tagger, and subsequent 'sales headwinds' affecting 2024 revenue guidance. Following these revelations, Sprout Social's stock fell by approximately 40%. Bleichmar Fonti & Auld LLP is representing the plaintiffs and encouraging investors to seek further information and potential representation to lead the case.
FAQ
What is the current stock price of Sprout Social (SPT)?
What is the market cap of Sprout Social (SPT)?
What does Sprout Social, Inc. do?
How does Sprout Social generate revenue?
What is The Arboretum?
Who is the new CEO of Sprout Social?
What recent features has Sprout Social introduced?
How many brands use Sprout Social's platform?
What awards has Sprout Social received?
Where can I find more information about Sprout Social?
What social media platforms is Sprout Social compatible with?
How can I contact Sprout Social for media inquiries?
