Sprout Social Inc Stock Price, News & Analysis

Sprout Social recently released findings from a survey showing a significant trend towards increased reliance on social media for business strategies. 91% of business executives expect their social media budgets to rise in the next three years, with 62% of consumers believing that companies lacking a strong social media presence will fail. The survey highlights that 95% of executives anticipate using social data beyond marketing, and 78% of consumers are more likely to purchase after positive social media interactions.

Sprout Social (Nasdaq: SPT) reported a fourth quarter revenue of $37.3 million, marking a 33% increase year-over-year, and anticipates 30% revenue growth for 2021. Total annual revenue for 2020 reached $132.9 million, up 29%. The company had 26,718 customers by year-end, up from 25,556 in Q3 2020. Both GAAP and non-GAAP net losses improved compared to Q4 2019. Cash and equivalents stood at $163.9 million. The outlook for Q1 2021 includes revenue between $39.6 and $39.7 million and a non-GAAP operating loss of $5.4 to $5.0 million.

Sprout Social (Nasdaq: SPT) announced its participation in two upcoming investor conferences. CFO Joe Del Preto and Head of Investor Relations Jason Rechel will speak at the Keybanc Capital Markets’ Emerging Technology Summit on February 25, 2021, at 12:50 PM CT. Additionally, CEO Justyn Howard, CFO Del Preto, and President Ryan Barretto will attend the Morgan Stanley Technology, Media and Telecom conference on March 2, 2021, at 10 AM CT. Both webcasts will be available on the investor relations section of the Sprout Social website, archived for 12 months.

Sprout Social (Nasdaq: SPT) will release its fourth-quarter financial results for 2020 on February 23, 2021, after market close. A conference call and webcast to discuss these results will occur at 4:00 PM CT. Interested parties can register for the call and access the live webcast through Sprout Social’s investor relations website. The company provides cloud-based social media management tools to over 25,000 brands and agencies globally. More information on their financial updates will also be available on their site post-call.

Sprout Social (Nasdaq: SPT) announced that CFO Joe Del Preto and Head of Investor Relations Jason Rechel will present at the 23rd Annual Needham Growth Conference on January 12, 2021, at 10:00 a.m. ET. A live webcast will be available on their investor relations website, with a replay afterward. Sprout Social provides advanced social media management solutions to over 25,000 brands and agencies, enhancing brand visibility and consumer engagement. The Company uses various platforms and regularly updates investors through social media and its investor site.

Sprout Social announces the promotion of Ryan Barretto to President, effective immediately, reporting to CEO Justyn Howard. Barretto, who previously served as SVP of Global Sales, will now oversee global sales, customer success, and marketing. Under his leadership, the company has scaled from $30M to over $140M in ARR. He has played key roles in go-to-market strategies, customer success initiatives, and the IPO process. This leadership change is expected to strengthen Sprout Social's position in the growing social media management industry.

Sprout Social (Nasdaq: SPT) has appointed Raina Moskowitz, Etsy's Chief Operations, Strategy and People Officer, to its board of directors as of December 10, 2020. Justyn Howard, CEO, expressed confidence in Moskowitz's extensive experience in strategic roles at prominent companies, which aligns with Sprout's growth objectives. Moskowitz's background includes significant leadership positions at American Express and a strong academic foundation from the Wharton School. Her addition is expected to enhance Sprout's expertise in social media management, reflecting the company's commitment to exceptional service and brand engagement.