Sprinklr, the Technology sector company, was revisited by a Wall Street analyst yesterday. Analyst Elizabeth Porter from Morgan Stanley maintained a Hold rating on the stock and has a $10.00 price target.
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Elizabeth Porter’s rating is based on a combination of factors that highlight both the progress and challenges faced by Sprinklr. The company’s recent quarterly results indicated significant strides in its transformation journey, particularly with improved customer retention and engagement. However, despite these positive developments, the overall margin outlook remains subdued, suggesting that the transformation is still in its early stages.
Porter acknowledges the encouraging progress, such as the company’s revenue and subscription beats and the raised guidance for the next quarter. Yet, she emphasizes the need for further acceleration in performance to justify a re-rating from its current status as a turnaround story. The valuation, reflecting a work-in-progress narrative, supports the decision to maintain a Hold rating as the company continues its transformation efforts.