Sprinklr (NYSE:CXM) Cut to Underweight at Wells Fargo & Company

Wells Fargo & Company downgraded shares of Sprinklr (NYSE:CXM) from an equal weight rating to an underweight rating in a report issued on Tuesday morning, MarketBeat Ratings reports. They currently have $6.00 target price on the stock, down from their prior target price of $8.00.

Other analysts have also recently issued research reports about the stock. Cantor Fitzgerald dropped their target price 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. KeyCorp decreased their price objective on Sprinklr from $16.00 to $12.00 and set an “overweight” rating on the stock in a research note on Thursday, September 5th. JMP Securities reiterated a “market outperform” rating and set a $17.00 price objective on shares of Sprinklr in a research report on Thursday, September 5th. Morgan Stanley cut their price target on shares of Sprinklr from $12.00 to $10.00 and set an “equal weight” rating on the stock in a report on Thursday, September 5th. Finally, Rosenblatt Securities dropped their target price on shares of Sprinklr from $14.00 to $11.00 and set a “buy” rating on the stock in a report on Tuesday, September 3rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $9.80.

Sprinklr Stock Down 1.4 %

CXM traded down $0.11 during trading on Tuesday, hitting $7.63. 297,942 shares of the company’s stock were exchanged, compared to its average volume of 2,258,861. The stock has a market cap of $1.93 billion, a P/E ratio of 42.34, a PEG ratio of 2.41 and a beta of 0.76. Sprinklr has a fifty-two week low of $6.91 and a fifty-two week high of $17.14. The business’s 50 day moving average is $7.50 and its two-hundred day moving average is $9.13.

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

Insider Buying and Selling

In other news, major shareholder Roger H. Lee sold 44,884 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $7.83, for a total transaction of $351,441.72. Following the transaction, the insider now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Manish Sarin sold 22,738 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 value of $178,038.54. Following the sale, the chief financial officer now owns 748,918 shares in the company, valued at approximately $5,864,027.94. This trade represents a 2.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 338,480 shares of company stock valued at $2,545,967 over the last quarter. Corporate insiders own 30.12% of the company’s stock.

Hedge Funds Weigh In On Sprinklr

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Sprinklr by 30.6% during the first quarter. Vanguard Group Inc. now owns 15,248,951 shares of the company’s stock worth $187,105,000 after purchasing an additional 3,575,001 shares during the period. Solel Partners LP grew its stake in Sprinklr by 46.8% in the second quarter. Solel Partners LP now owns 3,692,963 shares of the company’s stock valued at $35,526,000 after acquiring an additional 1,176,726 shares during the period. Letko Brosseau & Associates Inc. raised its holdings in shares of Sprinklr by 63.5% in the second quarter. Letko Brosseau & Associates Inc. now owns 2,130,350 shares of the company’s stock valued at $20,494,000 after purchasing an additional 827,375 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Sprinklr by 107,818.1% during the 2nd quarter. Federated Hermes Inc. now owns 1,696,472 shares of the company’s stock valued at $16,320,000 after purchasing an additional 1,694,900 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Sprinklr by 10.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,037,271 shares of the company’s stock valued at $8,018,000 after buying an additional 97,066 shares during the last quarter. 40.19% of the stock is currently owned by institutional investors and hedge funds.

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.