Sprinklr (NYSE:CXM) Sees Strong Trading Volume Following Strong Earnings

Shares of Sprinklr, Inc. (NYSE:CXMGet Rating) saw an uptick in trading volume on Friday after the company announced better than expected quarterly earnings. 19,726 shares were traded during mid-day trading, a decline of 94% from the previous session’s volume of 317,224 shares.The stock last traded at $12.73 and had previously closed at $11.56.

The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.03. Sprinklr had a negative net margin of 20.66% and a negative return on equity of 20.03%. The business had revenue of $150.60 million during the quarter, compared to the consensus estimate of $147.45 million. During the same period in the previous year, the firm posted ($0.20) earnings per share. The company’s quarterly revenue was up 26.9% compared to the same quarter last year.

Analyst Ratings Changes

A number of research firms recently issued reports on CXM. Citigroup lowered their target price on shares of Sprinklr from $15.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, June 16th. Morgan Stanley boosted their target price on shares of Sprinklr from $12.00 to $14.00 and gave the company an “equal weight” rating in a report on Friday. Barclays boosted their target price on shares of Sprinklr from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Wednesday, June 15th. JPMorgan Chase & Co. lowered their target price on shares of Sprinklr from $20.00 to $15.00 and set an “overweight” rating for the company in a report on Wednesday, June 15th. Finally, Stifel Nicolaus reduced their price target on shares of Sprinklr from $18.00 to $15.00 in a research report on Wednesday, June 15th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $16.00.

Insider Transactions at Sprinklr

In other news, General Counsel Daniel P. Haley sold 62,000 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $12.67, for a total transaction of $785,540.00. Following the transaction, the general counsel now directly owns 100,000 shares of the company’s stock, valued at $1,267,000. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, General Counsel Daniel P. Haley sold 62,000 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $12.67, for a total transaction of $785,540.00. Following the transaction, the general counsel now directly owns 100,000 shares of the company’s stock, valued at $1,267,000. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO Luca Lazzaron sold 24,692 shares of the business’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $11.27, for a total transaction of $278,278.84. Following the transaction, the executive now directly owns 530,413 shares in the company, valued at $5,977,754.51. The disclosure for this sale can be found here. Over the last three months, insiders have sold 170,850 shares of company stock valued at $1,967,797. Corporate insiders own 43.75% of the company’s stock.

Institutional Trading of Sprinklr

Several institutional investors have recently added to or reduced their stakes in the stock. Captrust Financial Advisors acquired a new stake in Sprinklr in the second quarter valued at $48,000. B. Riley Asset Management LLC acquired a new stake in Sprinklr in the second quarter valued at $530,000. Woodline Partners LP acquired a new stake in Sprinklr in the second quarter valued at $176,000. Price T Rowe Associates Inc. MD acquired a new stake in Sprinklr in the second quarter valued at $477,000. Finally, State Street Corp raised its holdings in Sprinklr by 1.7% in the second quarter. State Street Corp now owns 382,404 shares of the company’s stock valued at $3,866,000 after acquiring an additional 6,520 shares in the last quarter. 53.95% of the stock is owned by institutional investors and hedge funds.

Sprinklr Price Performance

The stock has a market capitalization of $3.18 billion, a price-to-earnings ratio of -27.95 and a beta of 0.63. The firm’s fifty day moving average is $11.59 and its 200-day moving average is $11.87.

About Sprinklr

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Sprinklr, Inc provides enterprise cloud software products worldwide. The company offers Unified Customer Experience Management platform, a purpose-built to analyze unstructured customer experience data, built to scale across future and modern channels, and integrates all stages of the customer journey.

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