Sprinklr price target lowered to $8 from $9 at DA Davidson

DA Davidson analyst Clark Wright lowered the firm’s price target on Sprinklr to $8 from $9 and keeps a Neutral rating on the shares following the Q2 report and a change in analysts. The company’s Q2 results were mixed with better than expected sales growth driven by strong professional services revenue and operating income coming in below the guide inclusive of credit losses, the analyst tells investors in a research note. The firm says Sprinklr’s full year guidance implies lower subscription growth and lower Non-GAAP operating margins but higher professional service revenue.