Cantor Fitzgerald raises Sprinklr stock price target on turnaround progress
Cantor Fitzgerald has increased its price target on Sprinklr Inc (NYSE:CXM) stock from $6.50 to $7.50, maintaining a Neutral rating. The firm's valuation analysis indicates the company's shares are currently undervalued at $10.27. Sprinklr's business has shown signs of improvement in the fiscal second quarter, with subscription revenue, operating margin, and earnings per share all exceeding expectations.
However, total revenue came in slightly below the average from Visible Alpha due to reduced professional services revenue. The company posted an 8.1% revenue growth and a solid 66% gross profit margin over the past year. Sprinklr holds more cash than debt on its balance sheet and delivered a 32% return over the past six months. Recent contracts with a sports betting and gaming company and a financial services provider have accelerated total remaining performance obligations for the second consecutive quarter.
Despite challenges, Sprinklr's earnings report surpassed Wall Street expectations with non-GAAP earnings of $0.11 per share.
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