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Sprout Social, Inc - SPT STOCK NEWS

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.

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Sprout Social's 2023 Index reveals that personalized care is more memorable than content on trends and social issues on social media. Consumers want brands to prioritize personalized care and engagement. Marketers are leveraging AI to meet this demand, with 81% saying AI has had a positive impact on their work. Marketers plan to use AI and automation tools to handle customer inquiries at scale. Concerns about job displacement and maintaining a balance between AI and human touch exist. Social teams need to break down silos and adapt to different platforms for continued success.
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Influencer marketing is essential for social strategies, with 81% of social marketers describing it as essential. It helps brands reach new audiences, boost engagement rates, and enhance brand authenticity and trust. 73% of surveyed marketers share their influencer marketing budget with their social budget. Instagram is the top platform for influencer marketing efforts. Social engagement data and conversion rates are important metrics for buy-in. Brands prioritize influencers with targeted audiences, with macro-influencers (100K to 1M followers) having the most impact. Brands ensure authenticity by encouraging real experiences, collaborating closely with influencers, and choosing genuine fans of their product.
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Sprout Social, Inc. (Nasdaq: SPT) to Host Second Investor Day on September 27, 2023
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Sprout Social, Inc. has announced its financial results for the second quarter of 2023. Revenue was $79.3 million, up 29% compared to the same period last year. The company acquired 176 customers through its partnership with Salesforce. GAAP net loss was ($13.1) million, while non-GAAP net income was $3.8 million. Cash and equivalents totaled $192.4 million. Sprout Social expects total revenue for the third quarter to be between $84.1 million and $84.2 million.
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Sprout Social, Inc. will report its financial results for Q2 2023 on August 3, 2023. The results will be discussed in a conference call and webcast at 4:00 p.m. CT. Online registration for the event can be found at https://conferencingportals.com/event/WCLZyewU.
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New research from Sprout Social reveals that 80% of business leaders expect their company's social media budget to increase in the next three years. Additionally, 93% agree that social media data and insights will be a primary source of business intelligence moving forward.
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Sprout Social has launched The Arboretum, a new community platform for social media and marketing professionals, aimed at fostering connections and facilitating knowledge sharing. Set to empower members to meet industry challenges and enhance their careers, the platform is free for all marketers. Participants can engage with peers, gain access to exclusive events featuring industry leaders, and receive insights on current trends in social strategy. Sprout customers joining the community will benefit from early product previews and direct feedback opportunities with the Sprout product team. By connecting professionals across various sectors, The Arboretum intends to become a hub for networking, mentorship, and career development.

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FAQ

What is the current stock price of Sprout Social (SPT)?

The current stock price of Sprout Social (SPT) is $32.45 as of December 20, 2024.

What is the market cap of Sprout Social (SPT)?

The market cap of Sprout Social (SPT) is approximately 1.9B.

What does Sprout Social, Inc. do?

Sprout Social, Inc. provides cloud-based social media management and analytics software, helping brands connect with their social audiences.

How does Sprout Social generate revenue?

Sprout Social generates the majority of its revenue from software subscriptions.

What is The Arboretum?

The Arboretum is Sprout Social's community platform that offers mentorship and networking opportunities for marketing and social media professionals.

Who is the new CEO of Sprout Social?

Ryan Barretto has been appointed as the new CEO, effective October 1, 2024.

What recent features has Sprout Social introduced?

Sprout Social has introduced AI and automation features to enhance content creation, reporting, and social care.

How many brands use Sprout Social's platform?

Over 30,000 brands use Sprout Social's platform.

What awards has Sprout Social received?

Sprout Social was named the #1 Best Software Product by G2's 2024 Best Software Award.

Where can I find more information about Sprout Social?

For more information, visit Sprout Social's website at https://sproutsocial.com.

What social media platforms is Sprout Social compatible with?

Sprout Social's software operates across all major social media networks and digital platforms.

How can I contact Sprout Social for media inquiries?

For media inquiries, contact Kaitlyn Gronek via email at pr@sproutsocial.com or phone at (773) 904-9674.

Sprout Social, Inc

Nasdaq:SPT

SPT Rankings

SPT Stock Data

1.88B
50.12M
1.65%
106.1%
9.17%
Software - Application
Services-prepackaged Software
Link
United States of America
CHICAGO