Sprinklr (NYSE:CXM) Shares Up 2.2% – Time to Buy?

Sprinklr, Inc. (NYSE:CXM) shares were up 2.2% during mid-day trading on Friday . The stock traded as high as $8.27 and last traded at $8.22. Approximately 154,811 shares were traded during trading, a decline of 93% from the average daily volume of 2,265,101 shares. The stock had previously closed at $8.04.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CXM shares. Citigroup reduced their price target on shares of Sprinklr from $11.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Wells Fargo & Company downgraded shares of Sprinklr from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $8.00 to $6.00 in a report on Tuesday, November 12th. Scotiabank began coverage on shares of Sprinklr in a research note on Tuesday. They set a “sector perform” rating and a $7.70 price objective on the stock. KeyCorp cut their price objective on shares of Sprinklr from $16.00 to $12.00 and set an “overweight” rating on the stock in a research note on Thursday, September 5th. Finally, Cantor Fitzgerald cut their price objective on shares of Sprinklr from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $9.61.

Sprinklr Price Performance

The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of 45.67, a price-to-earnings-growth ratio of 2.32 and a beta of 0.76. The business has a fifty day moving average price of $7.52 and a 200 day moving average price of $8.99.

Sprinklr (NYSE:CXM) last issued its quarterly earnings results on Wednesday, September 4th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. Sprinklr had a return on equity of 8.40% and a net margin of 6.54%. The company had revenue of $197.21 million during the quarter, compared to analyst estimates of $194.58 million. As a group, sell-side analysts predict that Sprinklr, Inc. will post 0.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Roger H. Lee sold 225,000 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $7.37, for a total value of $1,658,250.00. Following the sale, the insider now owns 514,799 shares of the company’s stock, valued at $3,794,068.63. The trade was a 30.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Manish Sarin sold 22,738 shares of the stock in a transaction 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 transaction, the chief financial officer now owns 748,918 shares of the company’s stock, valued at $5,864,027.94. This represents a 2.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 338,480 shares of company stock valued at $2,545,967 over the last ninety days. 30.12% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sprinklr

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC increased its stake in shares of Sprinklr by 111.0% in the 2nd quarter. CWM LLC now owns 3,620 shares of the company’s stock valued at $35,000 after buying an additional 1,904 shares during the period. CIBC Asset Management Inc grew its stake in shares of Sprinklr by 15.6% during the second quarter. CIBC Asset Management Inc now owns 12,523 shares of the company’s stock worth $120,000 after purchasing an additional 1,694 shares during the period. Everence Capital Management Inc. bought a new stake in Sprinklr in the third quarter valued at about $105,000. Simplicity Wealth LLC acquired a new position in Sprinklr in the second quarter valued at about $148,000. Finally, GSA Capital Partners LLP acquired a new position in Sprinklr in the third quarter valued at about $129,000. 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.