24/7 Market News Snapshot 04 December, 2024 – Sprinklr, Inc. (NYSE:CXM)

December 4, 2024

DENVER, Colo., 04 December, 2024 (247marketnews.com) – (NYSE:CXM) are discussed in this article.
Sprinklr, Inc. has demonstrated remarkable momentum in the financial markets, with its stock price opening at $8.46 and experiencing a significant increase of 16.24%, reaching $9.59. This bolstered performance has garnered notable investor interest, reflected in a trading volume of 7.11 million shares. Market observers are noting possible challenges ahead, particularly with key resistance levels identified around $9.75, while support remains around the initial opening price. For the bullish trend to persist, it is essential that trading volume remains consistently above average.

In parallel, Sprinklr has reported impressive financial results for the third fiscal quarter ending October 31, 2024, showcasing the company’s resilience in the competitive landscape of customer experience management. The firm’s total revenue for the quarter was $200.7 million, representing an 8% year-over-year growth. A significant contributor to this growth was the subscription revenue, which rose by 6% to $180.6 million compared to the same quarter last year.

Rory Read, the President and CEO, emphasized the company’s strong performance, stating that the results underline its robust technology and customer engagement strategies. The third quarter featured a non-GAAP operating margin of 12% and positive free cash flow, which points to Sprinklr’s ongoing commitment to operational efficiency and shareholder value. While net income per share saw a slight decline to $0.04, the firm projects strong financial outcomes for the upcoming quarter, anticipating subscription revenue between $180 million and $181 million, alongside total revenue expectations in the range of $200 million to $201 million.

Sprinklr continues to elevate its market position with its innovative Unified-CXM platform, serving more than 1,800 enterprise clients, including several well-known global brands. The strategic focus on scalability and enhancing customer experiences positions Sprinklr for continued growth and success in delivering value for its stakeholders.

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