Sprout Social (NASDAQ: SPT) is a prominent provider of cloud-based social media management software. The company has recently announced a strategic partnership with Carahsoft Technology Corp., positioning itself as a NASPO-approved vendor. This collaboration enhances Sprout Social’s accessibility to government agencies through the NASPO ValuePoint Cloud Solutions Contract, managed by Carahsoft. This contract facilitates the procurement of Sprout Social’s comprehensive suite of solutions, including publishing, engagement, customer care, advocacy, and AI-powered business intelligence, for state and local government agencies.
Ryan Barretto, President and incoming CEO of Sprout Social, underscores the importance of social media as a tool for government agencies to engage with the public and ensure transparent communication. This partnership is expected to enable public sector customers to work more efficiently and enhance citizen engagement. Despite these positive developments, SPT’s stock is currently priced at $28.46, reflecting a decrease of approximately 0.38% or $0.11, as highlighted by the recent trading data.
Craig P. Abod, President of Carahsoft, expressed excitement about the inclusion of Sprout Social in NASPO’s offerings, noting that it expands the digital communication solutions available to state and local agencies. This partnership aims to improve social media management and communication for government entities, allowing them to better serve their communities. However, SPT’s stock has fluctuated between a low of $28.29 and a high of $28.96 during the trading day, indicating some volatility in the market.
Over the past year, SPT’s stock has reached a high of $68.41 and a low of $25.05, reflecting significant price movements. The company’s market capitalization stands at approximately $1.63 billion, indicating its size and presence in the market. Today’s trading volume for SPT on the NASDAQ is 45,318 shares, suggesting moderate investor interest in the stock.
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About Sprout Social Inc.
Sprout Social is a global leader in social media management and analytics software. Sprout’s intuitive platform puts powerful social data into the hands of more than 30,000 brands so they can deliver smarter, faster business impact. Named the #1 Best Software Product by G2’s 2024 Best Software Award, Sprout offers comprehensive publishing and engagement functionality, customer care, influencer marketing, advocacy, and AI-powered business intelligence. Sprout’s software operates across all major social media networks and digital platforms. For more information, visit the company’s website at www.SproutSocial.com.
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