Sprinklr’s (CXM) “Market Outperform” Rating Reiterated at JMP Securities

Sprinklr (NYSE:CXM)‘s stock had its “market outperform” rating reaffirmed by equities research analysts at JMP Securities in a report released on Friday,Benzinga reports. They presently have a $17.00 target price on the stock. JMP Securities’ price target suggests a potential upside of 99.32% from the company’s current price.

Several other research analysts have also weighed in on the stock. Cantor Fitzgerald reiterated a “neutral” rating and issued a $9.00 price objective on shares of Sprinklr in a research note on Thursday, December 5th. Rosenblatt Securities reissued a “buy” rating and issued a $10.50 price target on shares of Sprinklr in a report on Friday. Wells Fargo & Company lowered Sprinklr from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $8.00 to $6.00 in a research note on Tuesday, November 12th. DA Davidson raised their target price on shares of Sprinklr from $8.00 to $9.50 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Finally, William Blair lowered Sprinklr from an “outperform” rating to a “market perform” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Sprinklr currently has a consensus rating of “Hold” and an average target price of $10.13.

Sprinklr Price Performance

Shares of CXM traded down $0.33 during midday trading on Friday, reaching $8.56. The stock had a trading volume of 486,455 shares, compared to its average volume of 1,291,509. The company has a market capitalization of $2.18 billion, a P/E ratio of 53.41, a P/E/G ratio of 2.97 and a beta of 0.79. Sprinklr has a 52 week low of $6.91 and a 52 week high of $14.31. The firm’s 50 day moving average price is $8.78 and its 200-day moving average price is $8.35.

Institutional Investors Weigh In On Sprinklr

Several institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake in shares of Sprinklr by 224.5% during the third quarter. JPMorgan Chase & Co. now owns 628,661 shares of the company’s stock worth $4,860,000 after buying an additional 434,920 shares during the period. State Street Corp grew its position 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 during the period. Geode Capital Management LLC raised its stake in shares of Sprinklr by 11.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,788,550 shares of the company’s stock valued at $21,560,000 after buying an additional 295,638 shares during the last quarter. Cerity Partners LLC boosted its stake in shares of Sprinklr by 33.0% in the third quarter. Cerity Partners LLC now owns 991,475 shares of the company’s stock worth $7,664,000 after buying an additional 246,095 shares during the last quarter. Finally, Verition Fund Management LLC raised its position in Sprinklr by 742.9% during the third quarter. Verition Fund Management LLC now owns 234,327 shares of the company’s stock valued at $1,811,000 after acquiring an additional 206,526 shares in the last quarter. Institutional investors 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.