William Blair downgrades Sprinklr to Market Perform on transition period

William Blair downgraded Sprinklr (CXM) to Market Perform from Outperform without a price target after the company announced a 15% global workforce reduction. While expectations are low for the company at 3% consensus revenue growth in fiscal 2026 and the stock trading under three-times revenue, much of this year is likely to be a transition period for Sprinklr, the analyst tells investors in a research note. The firm believes the strategy realignment and operational changes under the new CEO are likely to take several quarters to materialize. In the interim, as Sprinklr focuses on the turnaround, Blair sees better opportunities for investors to deploy capital across software.