Sprinklr (NYSE:CXM) Stock Price Up 2.2% – Should You Buy?

Sprinklr, Inc. (NYSE:CXM)’s share price traded up 2.2% on Friday . The company traded as high as $8.27 and last traded at $8.22. 154,811 shares were traded during trading, a decline of 93% from the average session volume of 2,265,101 shares. The stock had previously closed at $8.04.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Cantor Fitzgerald cut their target price on shares of Sprinklr from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Wells Fargo & Company cut Sprinklr from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $8.00 to $6.00 in a research report on Tuesday, November 12th. Barclays cut Sprinklr from an “overweight” rating to an “underweight” rating and dropped their target price for the stock from $10.00 to $7.00 in a research report on Monday, October 7th. JMP Securities reaffirmed a “market outperform” rating and set a $17.00 price target on shares of Sprinklr in a research report on Thursday, September 5th. Finally, Scotiabank started coverage on shares of Sprinklr in a report on Tuesday, November 19th. They issued a “sector perform” rating and a $7.70 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Sprinklr presently has an average rating of “Hold” and an average target price of $9.61.

Sprinklr Trading Up 3.2 %

The company has a market cap of $2.10 billion, a P/E ratio of 46.11, a PEG ratio of 2.40 and a beta of 0.76. The business’s 50 day simple moving average is $7.53 and its 200 day simple moving average is $8.94.

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

Insider Activity

In other Sprinklr news, major shareholder Roger H. Lee sold 44,884 shares of Sprinklr stock in a transaction on Monday, September 9th. The shares were sold at an average price of $7.83, for a total value of $351,441.72. Following the sale, the insider now directly owns 739,799 shares in the company, valued at approximately $5,792,626.17. The trade was a 5.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ragy Thomas sold 12,902 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $7.83, for a total value of $101,022.66. Following the transaction, the chief executive officer now owns 1,051,182 shares of the company’s stock, valued at approximately $8,230,755.06. The trade was a 1.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 338,480 shares of company stock worth $2,545,967 over the last ninety days. Corporate insiders own 30.12% of the company’s stock.

Hedge Funds Weigh In On Sprinklr

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CXM. Geode Capital Management LLC raised its holdings 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 worth $21,560,000 after acquiring an additional 295,638 shares in the last quarter. Barclays PLC increased its position in Sprinklr by 283.7% in the third quarter. Barclays PLC now owns 242,990 shares of the company’s stock worth $1,878,000 after purchasing an additional 179,661 shares during the last quarter. Weiss Asset Management LP bought a new position in Sprinklr during the third quarter valued at $806,000. State Street Corp grew its stake in shares of Sprinklr by 7.2% in the 3rd quarter. State Street Corp now owns 4,826,736 shares of the company’s stock worth $37,311,000 after buying an additional 322,318 shares in the last quarter. Finally, Petrus Trust Company LTA raised its position in shares of Sprinklr by 109.5% during the 3rd quarter. Petrus Trust Company LTA now owns 88,178 shares of the company’s stock valued at $682,000 after buying an additional 46,093 shares in the last quarter. 40.19% of the stock is 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.