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

Sprinklr, Inc. (NYSE:CXM)’s stock price shot up 0.4% during trading on Thursday . The stock traded as high as $8.36 and last traded at $8.21. 2,362,386 shares traded hands during trading, an increase of 4% from the average session volume of 2,282,263 shares. The stock had previously closed at $8.18.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CXM shares. Rosenblatt Securities reduced their price target on shares of Sprinklr from $14.00 to $11.00 and set a “buy” rating for the company in a report on Tuesday, September 3rd. 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. Scotiabank started coverage on Sprinklr in a research note on Tuesday, November 19th. They set a “sector perform” rating and a $7.70 price target on the stock. KeyCorp reduced their price objective on Sprinklr from $16.00 to $12.00 and set an “overweight” rating for the company in a research report on Thursday, September 5th. Finally, Wells Fargo & Company cut Sprinklr from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $8.00 to $6.00 in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $9.61.

Sprinklr Price Performance

The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 45.61, a price-to-earnings-growth ratio of 2.48 and a beta of 0.76. The firm has a 50 day simple moving average of $7.55 and a 200-day simple moving average of $8.85.

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

Insider Activity

In other Sprinklr news, CEO Ragy Thomas sold 12,902 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $7.83, for a total value of $101,022.66. Following the completion of the sale, the chief executive officer now owns 1,051,182 shares in the company, valued at approximately $8,230,755.06. This trade represents a 1.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Roger H. Lee sold 44,884 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $7.83, for a total transaction of $351,441.72. Following the completion of the transaction, the insider now directly owns 739,799 shares of the company’s stock, valued at approximately $5,792,626.17. This represents a 5.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 338,480 shares of company stock worth $2,545,967. Insiders own 30.12% of the company’s stock.

Institutional Trading of Sprinklr

A number of hedge funds and other institutional investors have recently modified their holdings of CXM. CWM LLC boosted its position in 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 last quarter. CIBC Asset Management Inc boosted its holdings in Sprinklr by 15.6% in the second quarter. CIBC Asset Management Inc now owns 12,523 shares of the company’s stock valued at $120,000 after acquiring an additional 1,694 shares during the last quarter. Everence Capital Management Inc. acquired a new stake in Sprinklr in the third quarter worth about $105,000. Simplicity Wealth LLC bought a new stake in Sprinklr during the 2nd quarter worth about $148,000. Finally, GSA Capital Partners LLP bought a new stake in Sprinklr during the 3rd quarter worth about $129,000. Institutional investors and hedge funds own 40.19% of the company’s stock.

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.