NEW YORK, NY / ACCESSWIRE / May 30, 2024 / If you suffered a loss on your Sprout Social, Inc. (NASDAQ:SPT) investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information: Click Here or contact Joseph E. Levi, Esq.
Sprout Social shares fell sharply in the wake of a quarter in which bookings fell short of forecast which in turn caused the company to reduce revenue guidance. The company made some unforced tactical sales execution errors, but they are not existential mistakes and have not derailed the company's long-term growth story. A news story indicates that the founders of the company, are in negotiations with P/E entities to structure a bid to take the company private.
The founders of Sprout Social are in talks to take the provider of social media tools to businesses private, changing course after listing the company in the stock market five years ago, people familiar with the matter said on Monday.
NEW YORK, May 20 (Reuters) - The founders of Sprout Social are in talks to take the provider of social media tools to businesses private, changing course after listing the company in the stock market five years ago, people familiar with the matter said on Monday. Founders including Justyn Howard, Gil Lara, Aaron Rankin and Peter Soung control Sprout through a special class of shares. They have held talks with private equity firms that could partner with them on a deal, the sources said. The Chicago, Illinois-based company's board has formed a special committee of independent directors to consider a deal and has hired investment bank Morgan Stanley as its adviser, the sources added. The sources cautioned that no deal is certain and requested anonymity because the matter is confidential. Sprout Social and Morgan Stanley did not immediately respond to requests for comment. Sprout Social makes cloud-based software and technology tools that helps companies manage their social media strategy. Prominent customers include enterprise software maker Salesforce , writing tools maker Grammarly, and financial services firm Plaid. The company's shares, which have risen about 87% since its initial public offering in 2019, have lost a third of their value since May 2, when Sprout forecast full-year revenue below market expectations. The company now has a market value of $1.7 billion. Last month, Sprout Social said the company's president, Ryan Barretto, would succeed Howard as CEO starting in October. (Reporting by Milana Vinn and Anirban Sen in New York; Editing by Lisa Shumaker)
NEW YORK, NY / ACCESSWIRE / May 20, 2024 / If you suffered a loss on your Sprout Social, Inc. (NASDAQ:SPT) investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information: Click Here or contact Joseph E. Levi, Esq.
NEW YORK, NY / ACCESSWIRE / May 20, 2024 / If you suffered a loss on your Sprout Social, Inc. (NASDAQ:SPT) investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information: Click Here or contact Joseph E. Levi, Esq.
NEW YORK, NY / ACCESSWIRE / May 19, 2024 / If you suffered a loss on your Sprout Social, Inc. (NASDAQ:SPT) investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information: Click Here or contact Joseph E. Levi, Esq.
NEW YORK, NY / ACCESSWIRE / May 19, 2024 / If you suffered a loss on your Sprout Social, Inc. (NASDAQ:SPT) investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information: Click Here or contact Joseph E. Levi, Esq.
NEW YORK, NY / ACCESSWIRE / May 19, 2024 / If you suffered a loss on your Sprout Social, Inc. (NASDAQ:SPT) investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information: Click Here or contact Joseph E. Levi, Esq.
NEW YORK, NY / ACCESSWIRE / May 19, 2024 / If you suffered a loss on your Sprout Social, Inc. (NASDAQ:SPT) investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information: Click Here or contact Joseph E. Levi, Esq.
LOS ANGELES, CA / ACCESSWIRE / May 19, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Sprout Social, Inc. ("Sprout" or "the Company") (NASDAQ:SPT) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.
NEW YORK, NY / ACCESSWIRE / May 18, 2024 / If you suffered a loss on your Sprout Social, Inc. (NASDAQ:SPT) investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information: Click Here or contact Joseph E. Levi, Esq.