NEW YORK, NY / ACCESSWIRE / July 14, 2024 / Levi & Korsinsky notifies investors that it has commenced an investigation of Sprinklr, Inc. ("Sprinklr") (NYSE:CXM) concerning possible violations of federal securities laws.
On December 6, 2023, Sprinklr announced strong 3Q 2024 results and then reduced its estimated growth for the 4Q and full year 2025. The Company blamed it on "subscription renewal pressures" caused by macro headwinds and the "over-rotation" of sales to its CCaaS market. On an earnings call in September 2023, CEO Ragy Thomas stated that the Company's investments in AI and the CCaaS opportunity were main contributors to its customer growth. Subsequently, in March several changes were made to the Company's C-level positions. Analysts commenting on the reduced estimates mention surprise at the timing and shift in the Company's sales strategy.
Following this news, Sprinklr's stock price fell by $5.59 per share, or approximately 34% to close at $11.11 per share.
To obtain additional information, go to:
https://zlk.com/pslra-1/sprinklr-lawsuit-submission-form?prid=90687&wire=1
or contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212)363-7500.
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CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
[email protected]
Tel: (212)363-7500
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SOURCE: Levi & Korsinsky, LLP