Sprinklr (NYSE:CXM) Trading Up 0.4% – Here’s Why

Sprinklr, Inc. (NYSE:CXM)’s share price traded up 0.4% on Tuesday . The stock traded as high as $7.79 and last traded at $7.79. 105,301 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 2,259,847 shares. The stock had previously closed at $7.76.

Analyst Upgrades and Downgrades

Several analysts have commented on CXM shares. Morgan Stanley decreased their price target on shares of Sprinklr from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 5th. Citigroup dropped their price objective on shares of Sprinklr from $11.00 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. JMP Securities reissued a “market outperform” rating and set a $17.00 target price on shares of Sprinklr in a research report on Thursday, September 5th. Wells Fargo & Company cut shares of Sprinklr from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $8.00 to $6.00 in a report on Tuesday, November 12th. Finally, Scotiabank assumed coverage on shares of Sprinklr in a report on Tuesday. They set a “sector perform” rating and a $7.70 target price for the company. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $9.61.

Sprinklr Stock Performance

The company has a 50-day simple moving average of $7.50 and a 200-day simple moving average of $9.04. The company has a market cap of $1.97 billion, a price-to-earnings ratio of 43.28, a PEG ratio of 2.29 and a beta of 0.76.

Sprinklr (NYSE:CXM) last posted its earnings results on Wednesday, September 4th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. Sprinklr had a net margin of 6.54% and a return on equity of 8.40%. The firm had revenue of $197.21 million during the quarter, compared to the consensus estimate of $194.58 million. As a group, equities research analysts forecast that Sprinklr, Inc. will post 0.11 EPS for the current year.

Insider Buying and Selling at Sprinklr

In other Sprinklr news, major shareholder Roger H. Lee sold 44,884 shares of Sprinklr stock in a transaction on Monday, September 9th. The shares were sold at an average price of $7.83, for a total value of $351,441.72. Following the completion of the transaction, the insider now owns 739,799 shares of the company’s stock, valued at $5,792,626.17. The trade was a 5.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Manish Sarin sold 22,738 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $7.83, for a total value of $178,038.54. Following the completion of the sale, the chief financial officer now directly owns 748,918 shares in the company, valued at approximately $5,864,027.94. This trade represents a 2.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 338,480 shares of company stock worth $2,545,967 in the last quarter. 30.12% of the stock is owned by insiders.

Institutional Investors Weigh In On Sprinklr

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Sprinklr by 30.6% in the 1st quarter. Vanguard Group Inc. now owns 15,248,951 shares of the company’s stock worth $187,105,000 after buying an additional 3,575,001 shares during the period. Federated Hermes Inc. raised its holdings in shares of Sprinklr by 107,818.1% in the second quarter. Federated Hermes Inc. now owns 1,696,472 shares of the company’s stock valued at $16,320,000 after buying an additional 1,694,900 shares during the last quarter. Solel Partners LP lifted its position in shares of Sprinklr by 46.8% during the second quarter. Solel Partners LP now owns 3,692,963 shares of the company’s stock worth $35,526,000 after purchasing an additional 1,176,726 shares in the last quarter. Letko Brosseau & Associates Inc. increased its stake in shares of Sprinklr by 63.5% in the 2nd quarter. Letko Brosseau & Associates Inc. now owns 2,130,350 shares of the company’s stock valued at $20,494,000 after buying an additional 827,375 shares during the period. Finally, State Street Corp lifted its position in Sprinklr by 7.2% during the 3rd quarter. State Street Corp now owns 4,826,736 shares of the company’s stock valued at $37,311,000 after purchasing an additional 322,318 shares during the period. 40.19% of the stock is owned by institutional investors and hedge funds.

Sprinklr Company Profile

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.