Sprinklr (NYSE:CXM) Now Covered by Analysts at Scotiabank

Scotiabank began coverage on shares of Sprinklr (NYSE:CXM) in a research report report published on Tuesday, MarketBeat Ratings reports. The firm issued a sector perform rating and a $7.70 price target on the stock.

A number of other research firms have also weighed in on CXM. Morgan Stanley lowered 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 report on Thursday, September 5th. Citigroup lowered their price target on shares of Sprinklr from $11.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. DA Davidson dropped their price objective on shares of Sprinklr from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Barclays downgraded shares of Sprinklr from an “overweight” rating to an “underweight” rating and reduced their target price for the stock from $10.00 to $7.00 in a research note on Monday, October 7th. Finally, Wells Fargo & Company cut shares of Sprinklr from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $8.00 to $6.00 in a research note on Tuesday, November 12th. Two 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. According to MarketBeat, Sprinklr currently has an average rating of “Hold” and an average price target of $9.61.

Sprinklr Stock Performance

Shares of CXM stock opened at $8.05 on Tuesday. Sprinklr has a fifty-two week low of $6.91 and a fifty-two week high of $17.14. The firm has a market capitalization of $2.04 billion, a PE ratio of 44.70, a P/E/G ratio of 2.32 and a beta of 0.76. The stock’s 50-day simple moving average is $7.52 and its 200-day simple moving average is $8.99.

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

Insiders Place Their Bets

In other Sprinklr news, major shareholder Roger H. Lee sold 44,884 shares of Sprinklr stock in a transaction dated Monday, September 9th. The stock was 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 directly owns 739,799 shares of the company’s stock, valued at $5,792,626.17. The trade was a 5.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Diane Adams sold 12,915 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $7.83, for a total transaction of $101,124.45. Following the sale, the insider now directly owns 376,942 shares in the company, valued at $2,951,455.86. This represents a 3.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 338,480 shares of company stock worth $2,545,967 over the last ninety days. Corporate insiders own 30.12% of the company’s stock.

Institutional Investors Weigh In On Sprinklr

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew 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 acquiring an additional 3,575,001 shares in the last quarter. State Street Corp grew its stake in Sprinklr by 7.2% during the 3rd quarter. State Street Corp now owns 4,826,736 shares of the company’s stock worth $37,311,000 after purchasing an additional 322,318 shares in the last quarter. Solel Partners LP increased its holdings in Sprinklr by 46.8% during the 2nd 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 during the period. Geode Capital Management LLC raised its position in Sprinklr by 11.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,788,550 shares of the company’s stock valued at $21,560,000 after purchasing an additional 295,638 shares in the last quarter. Finally, Letko Brosseau & Associates Inc. boosted 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. 40.19% of the stock is owned by hedge funds and other institutional investors.

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.