Sprinklr (NYSE:CXM) Shares Up 1.2% – What’s Next?

Sprinklr, Inc. (NYSE:CXM)’s share price shot up 1.2% during trading on Thursday . The stock traded as high as $7.93 and last traded at $7.91. 163,682 shares were traded during mid-day trading, a decline of 93% from the average session volume of 2,261,144 shares. The stock had previously closed at $7.82.

Analyst Ratings Changes

Several research firms have recently weighed in on CXM. Cantor Fitzgerald decreased their target price on Sprinklr from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Rosenblatt Securities decreased their price objective 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. Wells Fargo & Company cut shares of 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. Scotiabank started coverage on shares of Sprinklr in a research report on Tuesday. They set a “sector perform” rating and a $7.70 target price on the stock. Finally, Barclays downgraded Sprinklr from an “overweight” rating to an “underweight” rating and reduced their price objective for the stock from $10.00 to $7.00 in a report on Monday, October 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $9.61.

Sprinklr Price Performance

The stock’s fifty day simple moving average is $7.53 and its 200 day simple moving average is $8.96. The firm has a market capitalization of $2.11 billion, a P/E ratio of 46.22, a P/E/G ratio of 2.32 and a beta of 0.76.

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

Insider Transactions at Sprinklr

In other news, CMO Arun Pattabhiraman sold 10,291 shares of Sprinklr stock in a transaction on Monday, September 16th. The shares were sold at an average price of $7.83, for a total transaction of $80,578.53. Following the completion of the sale, the chief marketing officer now directly owns 448,947 shares in the company, valued at approximately $3,515,255.01. The trade was a 2.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Roger H. Lee sold 225,000 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $7.37, for a total value of $1,658,250.00. Following the sale, the insider now owns 514,799 shares in the company, valued at approximately $3,794,068.63. The trade was a 30.41 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 338,480 shares of company stock worth $2,545,967. Insiders own 30.12% of the company’s stock.

Institutional Investors Weigh In On Sprinklr

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Sprinklr by 30.6% in the 1st quarter. Vanguard Group Inc. now owns 15,248,951 shares of the company’s stock valued at $187,105,000 after purchasing an additional 3,575,001 shares in the last quarter. Federated Hermes Inc. increased its position in shares of Sprinklr by 107,818.1% in the second quarter. Federated Hermes Inc. now owns 1,696,472 shares of the company’s stock valued at $16,320,000 after buying an additional 1,694,900 shares in the last quarter. Solel Partners LP raised its stake in shares of 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 buying an additional 1,176,726 shares during the period. Letko Brosseau & Associates Inc. lifted its position in shares of Sprinklr by 63.5% during 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 in the last quarter. Finally, State Street Corp grew its stake in Sprinklr by 7.2% in the 3rd quarter. State Street Corp now owns 4,826,736 shares of the company’s stock valued at $37,311,000 after acquiring an additional 322,318 shares during the period. Institutional investors and hedge funds 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.