Sprinklr price target lowered to $9 from $10 at Cantor Fitzgerald

Cantor Fitzgerald lowered the firm’s price target on Sprinklr to $9 from $10 and keeps a Neutral rating on the shares. The company reported mixed Q2 print, with revenue beating consensus by 1.4%, but solely driven by professional services revenue, “thus not a great beat,” the analyst tells investors in a research note. The firm says the company also missed consensus estimates on adjusted gross margin, adjusted operating income, and adjusted net income. Management still expects a strong billings in Q4, “which seems aggressive” given its commentary on renewal pressure, elevated churn, and an unfavorable macro environment, contends Cantor.