Sprinklr (NYSE:CXM) Stock Price Up 1.7% – Here’s Why

Sprinklr, Inc. (NYSE:CXM) shares shot up 1.7% on Wednesday . The stock traded as high as $7.93 and last traded at $7.91. 118,357 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 2,261,059 shares. The stock had previously closed at $7.78.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CXM shares. JMP Securities restated a “market outperform” rating and issued a $17.00 price objective on shares of Sprinklr 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 for the company in a research note on Thursday, September 5th. Wells Fargo & Company lowered Sprinklr from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $8.00 to $6.00 in a research note on Tuesday, November 12th. KeyCorp decreased their price objective on Sprinklr from $16.00 to $12.00 and set an “overweight” rating on the stock in a report on Thursday, September 5th. Finally, Scotiabank initiated coverage on Sprinklr in a research note on Tuesday. They issued a “sector perform” rating and a $7.70 target price for the company. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $9.61.

Sprinklr Trading Up 2.9 %

The firm has a market cap of $2.04 billion, a P/E ratio of 44.70, a price-to-earnings-growth ratio of 2.32 and a beta of 0.76. The company’s fifty day moving average price is $7.52 and its two-hundred day moving average price is $8.99.

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

Insider Buying and Selling at Sprinklr

In other Sprinklr news, CEO Ragy Thomas sold 12,902 shares of the business’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 completion of the transaction, the chief executive officer now directly 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Roger H. Lee sold 44,884 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $7.83, for a total transaction of $351,441.72. Following the sale, the insider now directly owns 739,799 shares in the company, valued at $5,792,626.17. This trade represents a 5.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 338,480 shares of company stock worth $2,545,967. 30.12% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CXM. Geode Capital Management LLC grew its holdings in 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 during the period. Barclays PLC lifted its stake in Sprinklr by 283.7% in the third quarter. Barclays PLC now owns 242,990 shares of the company’s stock valued at $1,878,000 after buying an additional 179,661 shares during the period. Weiss Asset Management LP acquired a new position in Sprinklr in the third quarter valued at about $806,000. State Street Corp boosted its holdings in Sprinklr by 7.2% during the third 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 during the last quarter. Finally, Petrus Trust Company LTA grew 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 worth $682,000 after buying an additional 46,093 shares during the period. 40.19% of the stock is currently owned by institutional investors and hedge funds.

Sprinklr Company Profile

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.