JMP Securities Reaffirms “Market Outperform” Rating for Sprinklr (NYSE:CXM)

JMP Securities reaffirmed their market outperform rating on shares of Sprinklr (NYSE:CXM) in a research note published on Monday, Benzinga reports. The firm currently has a $17.00 price objective on the stock.

Other analysts also recently issued reports about the company. DA Davidson downgraded Sprinklr from a buy rating to a neutral rating and decreased their price target for the stock from $16.00 to $9.00 in a report on Thursday, June 6th. Stifel Nicolaus decreased their target price on Sprinklr from $15.00 to $9.00 and set a hold rating for the company in a research note on Thursday, June 6th. William Blair reissued an outperform rating on shares of Sprinklr in a research note on Monday, April 22nd. Morgan Stanley reduced their price objective on shares of Sprinklr from $16.00 to $12.00 and set an equal weight rating for the company in a research report on Thursday, June 6th. Finally, Rosenblatt Securities dropped their target price on shares of Sprinklr from $18.00 to $14.00 and set a buy rating on the stock in a research report on Thursday, June 6th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $12.80.

Sprinklr Price Performance

Sprinklr stock opened at $10.04 on Monday. The business has a 50 day moving average of $10.84 and a 200-day moving average of $11.88. The company has a market capitalization of $2.66 billion, a P/E ratio of 47.81, a P/E/G ratio of 1.64 and a beta of 0.79. Sprinklr has a 1 year low of $8.33 and a 1 year high of $17.14.

Sprinklr (NYSE:CXM) last issued its quarterly earnings results on Wednesday, June 5th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.02. The company had revenue of $195.96 million during the quarter, compared to analysts’ expectations of $194.54 million. Sprinklr had a return on equity of 9.26% and a net margin of 7.85%. Equities analysts anticipate that Sprinklr will post 0.19 EPS for the current year.

Insider Activity

In other news, CMO Arun Pattabhiraman sold 52,401 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $11.66, for a total value of $610,995.66. Following the transaction, the chief marketing officer now owns 491,862 shares in the company, valued at $5,735,110.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CMO Arun Pattabhiraman sold 52,401 shares of the stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $11.66, for a total value of $610,995.66. Following the completion of the sale, the chief marketing officer now owns 491,862 shares in the company, valued at $5,735,110.92. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder R David Tabors sold 319,405 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $12.10, for a total transaction of $3,864,800.50. The disclosure for this sale can be found here. Insiders sold 373,236 shares of company stock worth $4,492,985 over the last three months. 30.12% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sprinklr

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in Sprinklr by 30.6% in the first quarter. Vanguard Group Inc. now owns 15,248,951 shares of the company’s stock worth $187,105,000 after acquiring an additional 3,575,001 shares during the period. Cadian Capital Management LP raised its holdings in shares of Sprinklr by 29.9% in the 4th quarter. Cadian Capital Management LP now owns 14,560,167 shares of the company’s stock worth $175,304,000 after purchasing an additional 3,355,566 shares during the period. Kettle Hill Capital Management LLC bought a new stake in shares of Sprinklr in the 4th quarter worth approximately $12,889,000. Stanley Laman Group Ltd. lifted its stake in Sprinklr by 1,185.6% in the fourth quarter. Stanley Laman Group Ltd. now owns 1,045,673 shares of the company’s stock valued at $12,590,000 after purchasing an additional 964,333 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Sprinklr by 19,023.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 710,832 shares of the company’s stock valued at $8,722,000 after purchasing an additional 707,115 shares during the period. 40.19% of the stock is owned by hedge funds and other institutional investors.

About Sprinklr

Sprinklr, Inc provides enterprise cloud software products worldwide. The company operates Unified Customer Experience Management platform, a software that enables customer-facing teams to collaborate across internal silos, communicate across digital channels, and leverage a complete suite of capabilities to deliver customer experiences.