Sprinklr Analysts Raise Their Forecasts After Upbeat Q1 Results

Sprinklr, Inc. CXM reported better-than-expected earnings and sales results for its first quarter.

Sprinklr posted adjusted earnings of 6 cents per share, beating analysts’ estimates of 1 cent per share. The company’s sales came in at $173.36 million, versus expectations of $168.91 million.

Sprinklr raised its FY24 adjusted EPS outlook from $0.13-$0.15 to $0.19-$0.21. The company also boosted its FY24 total revenue outlook from $710 million-$714 million to $711 million-$715 million.

Sprinklr shares gained 4.7% to $14.12 in pre-market trading.

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

• JMP Securities raised the price target on Sprinklr from $20 to $24. JMP Securities analyst Patrick Walravens maintained a Market Outperform rating.
• Stifel increased the price target on Sprinklr from $13 to $15. Stifel analyst Parker Lane maintained a Hold rating.
• BTIG boosted Sprinklr price target from $16 to $17. BTIG analyst Matt VanVliet maintained a Buy rating.
• JP Morgan raised Sprinklr price target from $14 to $16. JP Morgan analyst Pinjalim Bora maintained the stock with an Overweight.
• Morgan Stanley increased Sprinklr price target from $14 to $16. Morgan Stanley analyst Elizabeth Porter maintained the stock with an Equal-Weight.
• Cantor Fitzgerald raised Sprinklr price target from $15 to $17. Cantor Fitzgerald analyst Brett Knoblauch maintained the stock with an Overweight.

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