Sprinklr (NYSE:CXM) Hits New 12-Month Low – Here’s Why

Sprinklr, Inc. (NYSE:CXM) shares reached a new 52-week low during trading on Monday . The stock traded as low as $6.75 and last traded at $6.82, with a volume of 99979 shares changing hands. The stock had previously closed at $7.20.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CXM shares. Scotiabank lifted their target price on shares of Sprinklr from $8.50 to $9.00 and gave the company a “sector perform” rating in a report on Thursday, March 13th. Morgan Stanley increased their price objective on shares of Sprinklr from $10.00 to $11.00 and gave the company an “equal weight” rating in a research note on Thursday, March 13th. JMP Securities restated a “market outperform” rating and set a $17.00 price objective on shares of Sprinklr in a research report on Friday, February 7th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $11.00 price objective on shares of Sprinklr in a research note on Wednesday, December 11th. Finally, William Blair cut shares of Sprinklr from an “outperform” rating to a “market perform” rating in a research note on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $10.38.

Sprinklr Stock Up 2.1 %

The firm’s 50 day simple moving average is $8.75 and its two-hundred day simple moving average is $8.32. The stock has a market cap of $1.88 billion, a P/E ratio of 46.10, a price-to-earnings-growth ratio of 2.31 and a beta of 0.77.

Insider Buying and Selling

In other news, Director Neeraj Agrawal sold 26,053 shares of the company’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $9.28, for a total value of $241,771.84. Following the transaction, the director now owns 968,306 shares in the company, valued at $8,985,879.68. This represents a 2.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 30.12% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sprinklr

Several institutional investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC bought a new stake in shares of Sprinklr in the fourth quarter valued at about $989,000. Weiss Asset Management LP bought a new position in shares of Sprinklr during the third quarter worth $806,000. Geode Capital Management LLC raised its holdings in Sprinklr by 11.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,788,550 shares of the company’s stock worth $21,560,000 after buying an additional 295,638 shares during the period. Ceera Investments LLC raised its position in Sprinklr by 61.4% in the 4th quarter. Ceera Investments LLC now owns 182,105 shares of the company’s stock valued at $1,539,000 after buying an additional 69,290 shares during the last quarter. Finally, Barclays PLC boosted its position in Sprinklr by 283.7% during the third quarter. Barclays PLC now owns 242,990 shares of the company’s stock valued at $1,878,000 after purchasing an additional 179,661 shares during the last quarter. 40.19% of the stock is currently owned by 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.