Benzinga | Jul 19, 2021 05:45AM EDT

JMP Securities Initiates Coverage On Sprinklr, Confluent With Outperform Rating, Sees Double-Digit Upsides

* JMP Securities analyst Patrick Walravens initiated coverage of Sprinklr Inc (NYSE:CXM) with an Outperform rating and a $27 price target, implying a 41.5% upside potential.

* Walravens views the company as an attractive opportunity for long-term capital appreciation. The company is pursuing a significant market opportunity estimated at $51 billion and is poised to benefit from the world's continued digital shift.

* Walravens initiated coverage of Confluent Inc (NASDAQ:CFLT) with an Outperform rating and $49 price target, implying a 21.3% upside.

* Confluent has pioneered a new category, data in motion, in the large and growing data infrastructure market, Walravens stated. He sees the company's technology as differentiated.