Sprinklr (NYSE:CXM) Research Coverage Started at Scotiabank

Scotiabank began coverage on shares of Sprinklr (NYSE:CXM) in a research report sent to investors on Tuesday, Marketbeat Ratings reports. The brokerage issued a sector perform rating and a $7.70 price target on the stock.

A number of other analysts also recently issued reports on the company. Wells Fargo & Company downgraded Sprinklr from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $8.00 to $6.00 in a research note on Tuesday, November 12th. JMP Securities reaffirmed a “market outperform” rating and set a $17.00 price target on shares of Sprinklr in a research note on Thursday, September 5th. Cantor Fitzgerald dropped their price objective on shares of Sprinklr from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Rosenblatt Securities decreased their target price on shares of Sprinklr from $14.00 to $11.00 and set a “buy” rating on the stock in a research report on Tuesday, September 3rd. Finally, Citigroup dropped their price target on Sprinklr from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Sprinklr has an average rating of “Hold” and an average target price of $9.61.

Sprinklr Price Performance

Shares of CXM opened at $8.05 on Tuesday. Sprinklr has a 1 year low of $6.91 and a 1 year high of $17.14. The company has a 50 day simple moving average of $7.52 and a two-hundred day simple moving average of $8.99. 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.

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

Insider Buying and Selling

In related news, CMO Arun Pattabhiraman sold 10,291 shares of Sprinklr stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $7.83, for a total transaction of $80,578.53. Following the completion of the sale, the chief marketing officer now owns 448,947 shares in the company, valued at $3,515,255.01. This trade represents a 2.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Roger H. Lee sold 225,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider now owns 514,799 shares in the company, valued at $3,794,068.63. This represents a 30.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 338,480 shares of company stock valued at $2,545,967. Insiders own 30.12% of the company’s stock.

Institutional Investors Weigh In On Sprinklr

A number of institutional investors and hedge funds have recently bought and sold shares of the company. CWM LLC increased its stake in shares of Sprinklr by 111.0% during the second quarter. CWM LLC now owns 3,620 shares of the company’s stock valued at $35,000 after buying an additional 1,904 shares during the period. CIBC Asset Management Inc raised its holdings in shares of Sprinklr by 15.6% in the 2nd quarter. CIBC Asset Management Inc now owns 12,523 shares of the company’s stock valued at $120,000 after purchasing an additional 1,694 shares in the last quarter. Everence Capital Management Inc. purchased a new stake in shares of Sprinklr in the 3rd quarter worth approximately $105,000. Simplicity Wealth LLC bought a new position in shares of Sprinklr during the second quarter valued at approximately $148,000. Finally, GSA Capital Partners LLP purchased a new position in Sprinklr during the third quarter valued at approximately $129,000. 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.