Sprinklr price target lowered to $8 from $9 at DA Davidson

DA Davidson analyst Clark Wright lowered the firm’s price target on Sprinklr to $8 from $9 and keeps a Neutral rating on the shares. The company’s Q2 results were mixed with better than expected top line growth driven by strong professional services revenue and operating income coming in below the guide inclusive of credit losses, the analyst tells investors in a research note. The firm adds however that go-to-market changes and pricing/packaging updates at Sprinklr are ongoing, and its management is confident that once implemented, the company will be in a much better position to accelerate growth.