Oppenheimer analyst Brian Schwartz lowered the firm’s price target on Sprinklr to $10 from $16 and keeps an Outperform rating on the shares. The analyst notes Sprinklr reported mixed Q3 results and guidance. While the initial 2024 revenue guidance is worse than expectations, as management takes a defensive approach, Schwartz thinks it is the right move given the macro uncertainties and management’s commitment to profitable growth and increasing free cash flow. He believes the profitable growth story in 2024 looks achievable given a stable retention rate and slowing expense growth.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on CXM:
- Sprinklr raises FY23 EPS view to (5c)-(4c) from (8c)-(6c), consensus (7c)
- Sprinklr sees Q4 adjusted EPS 1c-2c, consensus 1c
- Sprinklr reports Q3 adjusted EPS 2c, consensus (1c)
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue