Software firm Sprinklr's Q2 revenue rises 8%, beats estimates

Overview

• Sprinklr Q2 rev grows 8% yr/yr, beating analyst expectations

• Subscription revenue for Q2 rises 6% yr/yr

• Scott Millard appointed Chief Revenue Officer, Manish Sarin to depart as CFO

Outlook

• Sprinklr sees Q3 subscription revenue between $186 mln and $187 mln

• Company expects Q3 total revenue between $209 mln and $210 mln

• Sprinklr projects FY subscription revenue between $746 mln and $748 mln

• Company anticipates FY total revenue between $837 mln and $839 mln

Result Drivers

• CUSTOMER ENGAGEMENTS - CEO Rory Read highlights improved quality of customer engagements as a key driver for Q2 results

• TRANSFORMATION PROGRESS - Sprinklr cites ongoing transformation efforts as a contributing factor to revenue growth

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 6 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the software peer group is "buy."

• Wall Street's median 12-month price target for Sprinklr Inc is $10.00, about 14% above its September 2 closing price of $8.60

• The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 21 three months ago

Press Release: ID:nBwD8hTWa