Why Sprout Social (SPT) Shares Are Trading Lower Today [Yahoo! Finance]
Sprout Social, Inc - Class A (SPT)
Last sprout social, inc - class a earnings: 2/26 04:10 pm
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Source: Yahoo! Finance
results with its full-year revenue guidance below expectations. Notably, full-year revenue guidance was lowered to a range of $405.0- $406.0 million (vs. previous expectations of $425.3 - $425.5 million). This is never a good sign. Key topline metrics, including ARR (annual recurring revenue), billings, and revenue, also missed analysts' estimates during the quarter. The company called out a couple of factors contributing to the topline underperformance: FIrstly, the mix shift from SMBs to large enterprise customers drove more attention towards closing deals versus creating a new pipeline, leading to a weakness in net new revenue additions (compared to the same quarter last year). Also, the company called out an accounting change, which resulted in a $4.4 million reduction in Q1 sales. In addition, it announced a CEO succession plan. Overall, this was a bad quarter for Sprout Social. Following the weak performance, Wall Street analysts downgraded the stock's rating. Baird lowered th
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SPT
News
- STOCK ALERT: Sprout Social (Nasdaq: SPT) Investors are Encouraged to Contact BFA Law About Upcoming Deadline in Securities Class Action After Stock Drops Over 5% at OpenGlobeNewswire
- Contact Levi & Korsinsky by July 12, 2024 Deadline to Join Class Action Against Sprout Social, Inc. (SPT)GlobeNewswire
- SPT INVESTOR ALERT: Bronstein, Gewirtz & Grossman LLC Announces that Sprout Social Inc. Investors Can Join the Class Action Lawsuit!Accesswire
- Sprout Social, Inc. (SPT) Investigation: Bronstein, Gewirtz & Grossman, LLC Encourages Investors to Seek Compensation for Alleged WrongdoingsAccesswire
- ONGOING INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Sprout Social, Inc. and Encourages Investors to Contact the FirmAccesswire
SPT
Earnings
- 5/2/24 - Beat
SPT
Sec Filings
- 5/21/24 - Form 8-K
- 5/8/24 - Form 4
- 5/8/24 - Form 4
- SPT's page on the SEC website