Sprinklr (NYSE:CXM) Downgraded by Wells Fargo & Company to “Underweight”

Sprinklr (NYSE:CXM) was downgraded by research analysts at Wells Fargo & Company from an “equal weight” rating to an “underweight” rating in a research note issued to investors on Tuesday, Marketbeat reports. They presently have a $6.00 target price on the stock, down from their previous target price of $8.00. Wells Fargo & Company‘s target price indicates a potential downside of 25.65% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. JMP Securities reiterated a “market outperform” rating and issued a $17.00 target price on shares of Sprinklr in a research report on Thursday, September 5th. Citigroup dropped their target price on Sprinklr from $11.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. KeyCorp lowered 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. Rosenblatt Securities cut their target price on shares of Sprinklr from $14.00 to $11.00 and set a “buy” rating on the stock in a report on Tuesday, September 3rd. Finally, Morgan Stanley lowered their price target on shares of Sprinklr from $12.00 to $10.00 and set an “equal weight” rating for the company in a report on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $9.80.

Sprinklr Stock Down 1.7 %

CXM opened at $8.07 on Tuesday. The business’s fifty day simple moving average is $7.51 and its 200 day simple moving average is $9.15. Sprinklr has a 52 week low of $6.91 and a 52 week high of $17.14. The stock has a market cap of $2.05 billion, a PE ratio of 44.84, a P/E/G ratio of 2.45 and a beta of 0.76.

Sprinklr (NYSE:CXM) last announced its quarterly earnings data on Wednesday, September 4th. The company reported $0.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.01. The company had revenue of $197.21 million for the quarter, compared to analysts’ expectations of $194.58 million. Sprinklr had a return on equity of 8.40% and a net margin of 6.54%. As a group, equities analysts anticipate that Sprinklr will post 0.11 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Roger H. Lee sold 44,884 shares of Sprinklr stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $7.83, for a total transaction of $351,441.72. Following the sale, the insider now directly owns 739,799 shares in the company, valued at $5,792,626.17. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, major shareholder Roger H. Lee sold 44,884 shares of Sprinklr stock in a transaction dated Monday, September 9th. The shares were 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 $5,792,626.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Roger H. Lee sold 225,000 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $7.37, for a total transaction of $1,658,250.00. Following the completion of the sale, the insider now owns 514,799 shares in the company, valued at approximately $3,794,068.63. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 338,480 shares of company stock worth $2,545,967. Company insiders own 30.12% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Texas Permanent School Fund Corp purchased a new stake in shares of Sprinklr in the first quarter worth $1,270,000. Swiss National Bank grew its position in Sprinklr by 11.1% during the 1st quarter. Swiss National Bank now owns 239,500 shares of the company’s stock valued at $2,939,000 after purchasing an additional 23,900 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Sprinklr during the 1st quarter valued at about $166,000. ProShare Advisors LLC raised its holdings in Sprinklr by 23.3% in the first quarter. ProShare Advisors LLC now owns 21,571 shares of the company’s stock worth $265,000 after buying an additional 4,080 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of 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 buying an additional 3,575,001 shares in the last quarter. Hedge funds and other institutional investors own 40.19% of the company’s stock.

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.