Sprinklr (NYSE:CXM) Price Target Cut to $10.00 by Analysts at Wells Fargo & Company

Sprinklr (NYSE:CXMFree Report) had its target price decreased by Wells Fargo & Company from $14.00 to $10.00 in a report published on Thursday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other brokerages have also commented on CXM. Rosenblatt Securities decreased their price objective on Sprinklr from $18.00 to $14.00 and set a buy rating for the company in a report on Thursday. Morgan Stanley lowered their price target on Sprinklr from $16.00 to $12.00 and set an equal weight rating for the company in a report on Thursday. DA Davidson lowered Sprinklr from a buy rating to a neutral rating and dropped their price target for the stock from $16.00 to $9.00 in a research note on Thursday. KeyCorp began coverage on shares of Sprinklr in a research report on Thursday, March 21st. They issued an overweight rating and a $19.00 price objective for the company. Finally, Oppenheimer reissued a market perform rating on shares of Sprinklr in a research report on Thursday, March 28th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Sprinklr has an average rating of Hold and a consensus target price of $12.90.

Read Our Latest Report on Sprinklr

Sprinklr Stock Performance

NYSE CXM opened at $8.92 on Thursday. The company has a market cap of $2.44 billion, a PE ratio of 42.48, a P/E/G ratio of 1.72 and a beta of 0.84. The firm’s 50 day moving average price is $11.81 and its 200-day moving average price is $12.48. Sprinklr has a 52-week low of $8.33 and a 52-week high of $17.14.

Sprinklr (NYSE:CXMGet Free Report) last posted its earnings results on Wednesday, March 27th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.04. Sprinklr had a return on equity of 9.26% and a net margin of 7.85%. The company had revenue of $194.21 million for the quarter, compared to analyst estimates of $188.50 million. On average, analysts forecast that Sprinklr will post 0.19 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder R David Tabors sold 319,405 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $12.10, for a total transaction of $3,864,800.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Ragy Thomas sold 11,742 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $13.03, for a total value of $152,998.26. Following the sale, the chief executive officer now owns 438,214 shares in the company, valued at $5,709,928.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder R David Tabors sold 319,405 shares of Sprinklr stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $12.10, for a total value of $3,864,800.50. The disclosure for this sale can be found here. Insiders have sold 495,273 shares of company stock valued at $6,083,127 in the last ninety days. Insiders own 30.12% of the company’s stock.

Institutional Investors Weigh In On Sprinklr

Hedge funds have recently bought and sold shares of the stock. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Sprinklr in the 1st quarter valued at $494,000. Washington Harbour Partners LP purchased a new position in Sprinklr in the first quarter valued at $1,227,000. Comerica Bank acquired a new position in shares of Sprinklr in the first quarter worth about $597,000. California State Teachers Retirement System boosted its stake in shares of Sprinklr by 4.3% during the 1st quarter. California State Teachers Retirement System now owns 119,751 shares of the company’s stock worth $1,469,000 after acquiring an additional 4,954 shares in the last quarter. Finally, Bayesian Capital Management LP acquired a new stake in shares of Sprinklr during the 1st quarter valued at about $1,012,000. Hedge funds and other institutional investors own 40.19% of the company’s stock.

Sprinklr Company Profile

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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.

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