Citi analyst Tyler Radke maintained a Hold rating on Sprinklr (CXM – Research Report) today and set a price target of $10.00.
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Tyler Radke’s rating is based on a combination of factors, including Sprinklr’s recent performance and future outlook. The company reported better-than-expected results for Q1, with total revenue growing by 5%, surpassing consensus estimates. However, this growth was partly driven by higher professional services revenue, and challenges such as downsells and churn persisted during the quarter.
Despite encouraging commentary on the sales pipeline and early positive results from new go-to-market initiatives, Radke believes these changes will take several more quarters to significantly impact metrics. The elongation of sales cycles and increased scrutiny on enterprise spending are additional concerns. As a result, Radke maintains a Neutral/High-Risk rating, awaiting further signs of a sustained recovery in Sprinklr’s growth trajectory.
In another report released yesterday, D.A. Davidson also maintained a Hold rating on the stock with a $9.00 price target.