Barclays Downgrades Sprinklr (NYSE:CXM) to Underweight

Barclays downgraded shares of Sprinklr (NYSE:CXM) from an overweight rating to an underweight rating in a report issued on Monday, Marketbeat reports. Barclays currently has $7.00 price target on the stock, down from their previous price target of $10.00.

CXM has been the subject of a number of other reports. Rosenblatt Securities lowered their price objective on shares of Sprinklr from $14.00 to $11.00 and set a buy rating for the company in a research note on Tuesday, September 3rd. KeyCorp lowered their price target on shares of Sprinklr from $16.00 to $12.00 and set an overweight rating for the company in a research report on Thursday, September 5th. Cantor Fitzgerald cut their price objective on shares of Sprinklr from $10.00 to $9.00 and set a neutral rating on the stock in a report on Thursday, September 5th. DA Davidson dropped their target price on Sprinklr from $9.00 to $8.00 and set a neutral rating on the stock in a research report on Thursday, September 5th. Finally, Wells Fargo & Company decreased their price objective on Sprinklr from $9.00 to $8.00 and set an equal weight rating for the company in a research note on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $10.00.

Sprinklr Price Performance

Sprinklr stock opened at $7.15 on Monday. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of 34.02, a price-to-earnings-growth ratio of 2.25 and a beta of 0.76. The firm has a 50-day moving average of $8.19 and a two-hundred day moving average of $9.92. Sprinklr has a 1 year low of $6.91 and a 1 year high of $17.14.

Sprinklr (NYSE:CXM) last posted 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 net margin of 6.54% and a return on equity of 8.40%. The firm had revenue of $197.21 million during the quarter, compared to the consensus estimate of $194.58 million. Research analysts expect that Sprinklr will post 0.11 earnings per share for the current year.

Insider Activity at Sprinklr

In other Sprinklr news, major shareholder Roger H. Lee sold 225,000 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $7.37, for a total value of $1,658,250.00. Following the completion of the sale, the insider now owns 514,799 shares of the company’s stock, valued at approximately $3,794,068.63. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Diane Adams sold 13,717 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $9.20, for a total value of $126,196.40. Following the transaction, the insider now owns 395,222 shares in the company, valued at approximately $3,636,042.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Roger H. Lee sold 225,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $7.37, for a total transaction of $1,658,250.00. Following the transaction, the insider now directly owns 514,799 shares of the company’s stock, valued at $3,794,068.63. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 351,937 shares of company stock valued at $2,675,185 in the last ninety days. Corporate insiders own 30.12% of the company’s stock.

Institutional Trading of Sprinklr

A number of hedge funds and other institutional investors have recently made changes to their positions in CXM. Cadian Capital Management LP lifted its position in Sprinklr by 29.9% during the fourth quarter. Cadian Capital Management LP now owns 14,560,167 shares of the company’s stock valued at $175,304,000 after purchasing an additional 3,355,566 shares during the period. Scalar Gauge Management LLC purchased a new stake in shares of Sprinklr in the fourth quarter worth about $1,746,000. TFG Asset Management GP Ltd boosted its stake in shares of Sprinklr by 15.8% in the fourth quarter. TFG Asset Management GP Ltd now owns 2,200,000 shares of the company’s stock worth $26,488,000 after buying an additional 300,000 shares during the last quarter. Bullseye Asset Management LLC grew its holdings in Sprinklr by 21.9% during the fourth quarter. Bullseye Asset Management LLC now owns 55,654 shares of the company’s stock worth $670,000 after acquiring an additional 10,000 shares during the period. Finally, Virtu Financial LLC purchased a new position in Sprinklr during the fourth quarter valued at approximately $173,000. Institutional investors and hedge funds 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.