Sprinklr price target raised to $18.50 from $17 at DA Davidson

DA Davidson raised the firm’s price target on Sprinklr to $18.50 from $17 and keeps a Buy rating on the shares. The company’s Q2 results exceeded expectations, with higher price target being driven by the firm’s increased revenue estimates for 2024, the analyst tells investors in a research note. Sprinklr’s customer mix, which consists of high profile global enterprises with deep pockets, positions the company as a disruptor in CCaaS, while its improving profitability profile serves as key competitive advantage to support this growth story, DA Davidson added.