These Analysts Lower Their Forecasts On Sprinklr Following Q2 Results

Author: Avi Kapoor | September 05, 2024 08:09am

Sprinklr (NYSE:CXM) reported mixed second-quarter financial results and cut its FY25 adjusted EPS guidance below estimates on Wednesday.

Sprinklr reported quarterly earnings of six cents per share, which missed the analyst consensus estimate of seven cents. Quarterly sales clocked in at $197.21 million, which beat the analyst consensus estimate of $194.5 million by 1.39% and represents a 10.5% increase over the same period last year.

"In the second quarter, we continued to expand our customer base with our industry-recognized AI-powered platform and delivered our seventh consecutive quarter of free cash flow. As we work through continued market challenges, we are taking decisive steps to strengthen our foundation to reaccelerate growth and expand margins — a process that will take several quarters," said Ragy Thomas, Sprinklr founder and co-CEO.

Sprinklr expects third-quarter revenue of between $196 million and $197 million and earnings of approximately eight cents per share. The company raised its fiscal-year revenue forecast from between $779 million and $781 million to between $785 million and $787 million, versus the $780.39 million estimate, and cut its earnings outlook from between 40 cents and 41 cents per share to a range of 32 cents to 33 cents per share, versus the 41 cent estimate.

Sprinklr shares fell 1.9% to close at $23.01 on Wednesday.

These analysts made changes to their price targets on Sprinklr following earnings announcement.

• Keybanc analyst Jason Ader maintained the stock with an Overweight and cut the price target from $16 to $12.
• Morgan Stanley analyst Elizabeth Porter maintained Sprinklr with an Equal-Weight and lowered the price target from $12 to $10.

Considering buying CXM stock? Here’s what analysts think:

Posted In: CXM