Sprinklr (NYSE:CXM) Trading Down 1.6% – Here’s Why

Sprinklr, Inc. (NYSE:CXM)’s stock price was down 1.6% on Friday . The stock traded as low as $7.60 and last traded at $7.62. Approximately 303,271 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 2,258,686 shares. The stock had previously closed at $7.74.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CXM shares. Wells Fargo & Company lowered shares of 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. Citigroup reduced their price target on Sprinklr from $11.00 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Morgan Stanley reduced their target price on shares of Sprinklr from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 5th. JMP Securities restated a “market outperform” rating and issued a $17.00 price objective on shares of Sprinklr in a report on Thursday, September 5th. Finally, Barclays lowered shares of Sprinklr from an “overweight” rating to an “underweight” rating and lowered their target price for the company from $10.00 to $7.00 in a report on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Sprinklr has an average rating of “Hold” and a consensus price target of $9.80.

Sprinklr Trading Down 0.5 %

The company’s 50 day simple moving average is $7.50 and its 200-day simple moving average is $9.13. The firm has a market cap of $1.95 billion, a P/E ratio of 42.34, a PEG ratio of 2.41 and a beta of 0.76.

Sprinklr (NYSE:CXM) last released its quarterly earnings results on Wednesday, September 4th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. Sprinklr had a return on equity of 8.40% and a net margin of 6.54%. The firm had revenue of $197.21 million for the quarter, compared to analysts’ expectations of $194.58 million. On average, sell-side analysts anticipate that Sprinklr, Inc. will post 0.11 earnings per share for the current year.

Insider Transactions at Sprinklr

In other news, insider Diane Adams sold 4,282 shares of Sprinklr stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $7.83, for a total transaction of $33,528.06. Following the transaction, the insider now directly owns 390,940 shares of the company’s stock, valued at $3,061,060.20. The trade was a 1.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ragy Thomas sold 12,902 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $7.83, for a total transaction of $101,022.66. Following the completion of the sale, the chief executive officer now directly owns 1,051,182 shares of the company’s stock, valued at $8,230,755.06. This represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 338,480 shares of company stock worth $2,545,967 in the last quarter. Company insiders own 30.12% of the company’s stock.

Hedge Funds Weigh In On Sprinklr

A number of hedge funds have recently modified their holdings of CXM. CWM LLC boosted its stake in shares of Sprinklr by 111.0% in the second quarter. CWM LLC now owns 3,620 shares of the company’s stock worth $35,000 after acquiring an additional 1,904 shares during the period. Everence Capital Management Inc. bought a new position in Sprinklr in the 3rd quarter worth approximately $105,000. CIBC Asset Management Inc grew its holdings in Sprinklr by 15.6% during the 2nd quarter. CIBC Asset Management Inc now owns 12,523 shares of the company’s stock valued at $120,000 after buying an additional 1,694 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of Sprinklr in the third quarter worth $129,000. Finally, GW Henssler & Associates Ltd. bought a new position in shares of Sprinklr during the third quarter worth $142,000. 40.19% of the stock is currently owned by institutional investors.

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.