Sprinklr (NYSE:CXM) Rating Increased to Hold at Scotiabank

Sprinklr (NYSE:CXM) was upgraded by equities researchers at Scotiabank to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Other analysts also recently issued reports about the stock. Cantor Fitzgerald lowered their price target on shares of Sprinklr from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. DA Davidson lowered their target price on Sprinklr from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Barclays lowered Sprinklr from an “overweight” rating to an “underweight” rating and reduced their price target for the stock from $10.00 to $7.00 in a research report on Monday, October 7th. JMP Securities reiterated a “market outperform” rating and issued a $17.00 price objective on shares of Sprinklr in a research report on Thursday, September 5th. Finally, 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. Two investment analysts have rated the stock with a sell rating, eight have assigned 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 an average target price of $9.61.

Sprinklr Stock Performance

NYSE CXM opened at $7.79 on Monday. The company has a market capitalization of $1.97 billion, a P/E ratio of 43.25, a P/E/G ratio of 2.29 and a beta of 0.76. Sprinklr has a 52-week low of $6.91 and a 52-week high of $17.14. The company has a fifty day moving average of $7.51 and a 200-day moving average of $9.01.

Sprinklr (NYSE:CXM) last posted its quarterly earnings data on Wednesday, September 4th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. The firm had revenue of $197.21 million during 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, analysts forecast that Sprinklr will post 0.11 EPS for the current fiscal year.

Insider Activity at Sprinklr

In other news, CEO Ragy Thomas sold 12,902 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 $101,022.66. Following the completion of the transaction, the chief executive officer now owns 1,051,182 shares in the company, valued at $8,230,755.06. This trade represents a 1.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Roger H. Lee sold 225,000 shares of the company’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 completion of the sale, the insider now directly owns 514,799 shares in the company, valued at approximately $3,794,068.63. The trade was a 30.41 % decrease in their ownership of the stock. 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 over the last quarter. Corporate insiders own 30.12% of the company’s stock.

Hedge Funds Weigh In On Sprinklr

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. 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 worth $35,000 after acquiring an additional 1,904 shares in the last quarter. CIBC Asset Management Inc increased 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 valued at $120,000 after purchasing an additional 1,694 shares in the last quarter. Everence Capital Management Inc. purchased a new position in shares of Sprinklr during the third quarter valued at approximately $105,000. Simplicity Wealth LLC bought a new stake in shares of Sprinklr in the 2nd quarter worth approximately $148,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Sprinklr in the 3rd quarter worth approximately $129,000. 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.