Sprinklr (NYSE:CXM) Earns Sector Perform Rating from Analysts at Scotiabank

Equities researchers at Scotiabank assumed coverage on shares of Sprinklr (NYSE:CXM) in a report released on Tuesday, MarketBeat Ratings reports. The firm set a “sector perform” rating and a $7.70 price target on the stock. Scotiabank’s target price points to a potential downside of 1.47% from the company’s current price.

A number of other brokerages also recently issued reports on CXM. Barclays downgraded Sprinklr from an “overweight” rating to an “underweight” rating and lowered their price target for the company from $10.00 to $7.00 in a report on Monday, October 7th. JMP Securities reiterated a “market outperform” rating and issued a $17.00 price target on shares of Sprinklr in a research note on Thursday, September 5th. DA Davidson lowered their price objective on shares of Sprinklr from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Citigroup cut their target price on shares of Sprinklr from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Finally, Rosenblatt Securities lowered their price target on 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, eight have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $9.61.

Sprinklr Price Performance

CXM opened at $7.82 on Tuesday. The firm has a market cap of $1.98 billion, a PE ratio of 43.42, a P/E/G ratio of 2.29 and a beta of 0.76. The stock has a 50-day moving average price of $7.52 and a 200-day moving average price of $9.00. Sprinklr has a 1 year low of $6.91 and a 1 year high of $17.14.

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

Insiders Place Their Bets

In related news, insider Diane Adams sold 12,915 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $7.83, for a total value of $101,124.45. Following the completion of the transaction, the insider now owns 376,942 shares of the company’s stock, valued at approximately $2,951,455.86. This represents a 3.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Roger H. Lee sold 225,000 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $7.37, for a total value of $1,658,250.00. Following the sale, the insider now directly owns 514,799 shares in the company, valued at approximately $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. Insiders sold a total of 338,480 shares of company stock worth $2,545,967 over the last three months. 30.12% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sprinklr

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Swiss National Bank raised its holdings in shares of Sprinklr by 11.1% during the 1st quarter. Swiss National Bank now owns 239,500 shares of the company’s stock worth $2,939,000 after acquiring an additional 23,900 shares in the last quarter. ProShare Advisors LLC raised its position in shares of Sprinklr by 23.3% during the 1st quarter. ProShare Advisors LLC now owns 21,571 shares of the company’s stock valued at $265,000 after buying an additional 4,080 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Sprinklr by 30.6% in the 1st quarter. Vanguard Group Inc. now owns 15,248,951 shares of the company’s stock valued at $187,105,000 after acquiring an additional 3,575,001 shares during the last quarter. American International Group Inc. increased its stake in Sprinklr by 9.6% during the first quarter. American International Group Inc. now owns 57,558 shares of the company’s stock worth $706,000 after acquiring an additional 5,036 shares during the last quarter. Finally, Bayesian Capital Management LP bought a new stake in shares of Sprinklr in the 1st quarter valued at approximately $1,012,000. Institutional investors own 40.19% of the company’s stock.

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.