Sprout Social Announces Third Quarter 2020 Financial Results Above Guidance Range
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Go back to Sprout Social Announces Third Quarter 2020 Financial Results Above Guidance Range
November 10, 2020 7:13 AM EST
Needham & Company analyst Scott Berg raised the price target on Sprout Social Inc. (NASDAQ: SPT) to $52.00 (from $46.00) while maintaining a Buy rating.
The analyst commented, "Sprout Social reported excellent 3Q results with sales metrics suggesting 3Q sales trends have rebounded to pre-COVID levels.... More
November 9, 2020 5:37 PM EST
Sprout Social (NASDAQ: SPT) reported Q3 EPS of ($0.09), $0.03 better than the analyst estimate of ($0.12). Revenue for the quarter came in at $33.7 million versus the consensus estimate of $33.03 million.
Third Quarter 2020 Financial Highlights
Revenue
Total revenue was $33.7 million, up 27% compared to the third quarter of 2019.Organic revenue (excluding the impact of legacy Simply Measured revenue) was up 34% compared to the third quarter of 2019.Total ARR was $141.9 million, up 30% compared to the third quarter of 2019.Organic ARR was $140.6 million, up 35% compared to the third quarter of 2019.
Operating Loss
GAAP...
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