Sprinklr falls as fiscal 2025 outlook disappoints Street

Sprinklr

07/12/2023 13:26

** Shares of software firm  CXM.N  fall about 30% to $11.8
premarket
    ** Company's Q3 sales and profit beat analyst estimates
    ** However, several brokerages cut their PTs on CXM
following results, management call
    ** Analysts at Stifel ("hold", PT cut to $15 from $16) say
CXM's initial FY25 outlook calls for 3% to 4% less subscription
revenue growth than what was expected by Street
    ** Wells Fargo (PT cut to $14 from $16) says CXM's initial
framework for FY25 assumes 10% revenue growth as a starting
point, vs consensus of 16%
    ** CXM posts Q3 revenue of $186.3 mln vs est of $180.4 mln,
while reporting net income of about $17 mln vs est of $4.7 mln
    ** Six of 13 analysts rate the stock "buy" or higher, seven
rate it "hold"; median PT IS $16 - LSEG data
    ** Up to last close, stock just over doubled in value YTD
  

 (Reporting by Pavithra S and Pushkala Aripaka in Bengaluru)
 ((pavithra.s@thomsonreuters.com))