On Thursday, Rosenblatt Securities adjusted its outlook on Sprinklr Inc (NYSE:CXM), increasing the price target to $18 from the previous $16 while maintaining a Buy rating on the stock. The adjustment follows a positive market reaction to the company's recent financial disclosures, with shares seeing an approximate 7% uptick after market closing.
The company reported robust results and provided a fiscal year 2025 (FY25) outlook that aligned with prior expectations, which had anticipated a potential downward revision. Management also reaffirmed its long-term financial goals for fiscal year 2027 (FY27).
Sprinklr's FY25 guidance suggests a 10% year-over-year increase in revenue and an 11% rise in subscription figures, consistent with the company's third-quarter projections.
Based on the latest guidance, Rosenblatt has revised its financial estimates for FY25 and FY26. The firm expressed heightened confidence in Sprinklr's operational performance, even considering the anticipated renewal challenges in the first half of FY25.
The company's steady approach to forecasting and its ability to meet expectations have contributed to the firm's decision to reiterate its Buy rating and elevate the price target.
The analyst's comments underscore Sprinklr's strategic management of its guidance for FY25, which appears to be conservative yet in alignment with market expectations. The company's performance and outlook have instilled a renewed sense of confidence in its capacity to execute its business plan effectively in the forthcoming fiscal periods.
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