Sprout Social, Inc. - $SPT STOCK NEWS

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.

Sprout Social, Inc. (

The 2024 Influencer Marketing Report by Sprout Social reveals that influencers significantly impact consumer purchasing decisions. Key findings include high trust in influencers, with 49% of consumers making purchases due to influencer posts. Gen Z consumers trust influencers more and are more likely to make frequent purchases. The report also highlights the emergence of AI influencers and consumer engagement preferences on various platforms.

Sprout Social, Inc. announces CEO succession plan, with President Ryan Barretto set to become CEO on October 1, 2024, while current CEO Justyn Howard transitions to Executive Chair. Barretto, who joined in 2016, has played a key role in the company's growth from $30M ARR to over $385M in 2023.

Sprout Social, Inc. will report its Q1 2024 financial results on May 2, 2024, after market close. The conference call and webcast will discuss business highlights at 4:00 p.m. CT. Online registration available.

Sprout Social introduces mentorship program on The Arboretum platform for marketing and social media professionals, aiming to support career growth and industry connections. The program offers mentorship opportunities, educational resources, and networking events to members, fostering collaboration and professional development.

Sprout Social, Inc. appoints Crystal Boysen as Chief People Officer to drive people-first organization and culture.

Sprout Social, Inc. reported strong fourth quarter financial results with revenue of $93.6 million, a 34% increase year-over-year. The company achieved total revenue of $333.6 million for fiscal year 2023, up 31% from the previous year. Operating loss improved to $4.7 million from ($3.9) million in fiscal 2022. Sprout Social expects total revenue between $425.3 million and $425.5 million for 2024, showcasing a positive outlook for growth.