Sprout Social Inc Stock Price, News & Analysis

Sprout Social announced a $100,000 annual contribution to Howard University School of Business for establishing the Center for Digital Business. This initiative will support curriculum development, hiring of staff, and provide technology for research over the next two years. The Center will focus on academic offerings, experiential learning, and job readiness for students. Sprout plans to integrate its technology into three courses and offer mentorship programs to enhance students’ skills in social media marketing and entrepreneurship.

Sprout Social and Salesforce have announced a global partnership allowing Salesforce customers to utilize Sprout's comprehensive social media management suite. This collaboration will enable enhanced customer engagement, streamlined publishing workflows, and effective social analytics. With integrations into Salesforce's Service Cloud, Sales Cloud, and Slack, businesses can create a unified view of their customers. Ryan Barretto, President of Sprout, emphasized the partnership's potential to strengthen customer connections, while Salesforce aims to provide companies with a 360° customer view.

Sprout Social (Nasdaq: SPT) announced its participation in key investor events in March 2022, including:

• Keybanc Emerging Technology Summit on March 9 at 1:30 PM CT
• Morgan Stanley Technology, Media & Telecom Conference on March 10 at 3:50 PM CT
• Barclays Spring Virtual Software Tour on March 15 at Noon CT

Live webcasts will be available on the company's investor relations website, with archived replays afterward. Sprout Social offers cloud-based social media management solutions to over 31,000 brands worldwide, enhancing their digital marketing efforts.

Sprout Social reported a strong fourth quarter for 2021, achieving $53.3 million in revenue, a 43% increase year-over-year. The company’s Annual Recurring Revenue (ARR) reached $224.2 million, growing 42% from 2020. However, it faced a GAAP operating loss of $9.7 million, compared to $5.8 million the previous year. For Q1 2022, Sprout expects revenue between $56.1 million and $56.2 million, indicating 38% year-over-year growth. The company also anticipates a full-year revenue forecast of $249 million to $250 million.

New research from Sprout Social highlights significant trends in social commerce, projecting a potential $1.2 trillion market by 2025. A survey of nearly 1,000 U.S. consumers reveals that 68% have purchased through social media, with 98% planning to do so this year. Key findings include a strong preference for immersive shopping experiences like VR and AR, with 85% of users engaging in social shopping. Inclusivity is crucial, influencing 60% of shoppers. The data indicates that brands must integrate social commerce into their strategies to attract consumers and enhance revenue.

Sprout Social (Nasdaq: SPT) will announce its fourth-quarter financial results for 2021 on February 22, 2022, after market close. A conference call to discuss these results is scheduled for the same day at 4:00 p.m. CT. Sprout Social offers cloud-based social media management solutions to over 30,000 brands worldwide, enhancing data-driven decision-making in social media strategies. The company's platform integrates analytics, management, and customer engagement across major social networks. For further details, visit their investor relations website.

Similarweb (NYSE: SMWB) has appointed Joe Del Preto, a seasoned executive with substantial experience in SaaS marketing solutions, to its board of directors. His expertise includes previous roles as CFO at Sprout Social and Global Controller at Groupon. CEO Or Offer emphasized Del Preto's capability to help drive Similarweb's mission to enhance digital business growth. This leadership change comes at a pivotal time for the company, enhancing its strategic direction as it continues to support businesses navigating digital markets.