Sprinklr (NYSE:CXM) Sees Strong Trading Volume – Time to Buy?

Sprinklr, Inc. (NYSE:CXM) saw strong trading volume on Wednesday . 720,531 shares were traded during mid-day trading, a decline of 68% from the previous session’s volume of 2,274,435 shares.The stock last traded at $8.24 and had previously closed at $8.18.

Wall Street Analyst Weigh In

CXM has been the topic of a number of research analyst reports. KeyCorp decreased their price target on shares of Sprinklr from $16.00 to $12.00 and set an “overweight” rating on the stock in a report on Thursday, September 5th. DA Davidson reduced their target price on shares of Sprinklr from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Barclays cut shares of Sprinklr from an “overweight” rating to an “underweight” rating and reduced their target price for the stock from $10.00 to $7.00 in a research report on Monday, October 7th. Scotiabank initiated 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. Finally, Wells Fargo & Company cut shares of Sprinklr from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $8.00 to $6.00 in a report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Sprinklr presently has a consensus rating of “Hold” and an average price target of $9.61.

Sprinklr Trading Down 0.5 %

The stock has a 50-day moving average of $7.54 and a two-hundred day moving average of $8.88. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 45.22, a price-to-earnings-growth ratio of 2.48 and a beta of 0.76.

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

Insiders Place Their Bets

In other Sprinklr news, major shareholder Roger H. Lee sold 44,884 shares of the firm’s 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 $5,792,626.17. This trade represents a 5.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Manish Sarin sold 22,738 shares of Sprinklr 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 directly owns 748,918 shares in the company, valued at $5,864,027.94. The trade was a 2.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 338,480 shares of company stock valued at $2,545,967 over the last three months. 30.12% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sprinklr

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised 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 valued at $187,105,000 after purchasing an additional 3,575,001 shares in the last quarter. American International Group Inc. increased its position in shares of Sprinklr by 9.6% during the first quarter. American International Group Inc. now owns 57,558 shares of the company’s stock valued at $706,000 after acquiring an additional 5,036 shares during the last quarter. California State Teachers Retirement System increased its holdings in Sprinklr by 4.3% during the first quarter. California State Teachers Retirement System now owns 119,751 shares of the company’s stock worth $1,469,000 after buying an additional 4,954 shares during the last quarter. Comerica Bank purchased a new position in Sprinklr in the first quarter valued at approximately $597,000. Finally, Washington Harbour Partners LP bought a new position in shares of Sprinklr during the 1st quarter worth $1,227,000. 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.