Sprinklr (NYSE:CXM) Cut to “Market Perform” at William Blair

William Blair downgraded shares of Sprinklr (NYSE:CXM) from an outperform rating to a market perform rating in a research report released on Friday, Marketbeat.com reports.

A number of other research firms have also commented on CXM. JMP Securities restated a “market outperform” rating and issued a $17.00 price objective on shares of Sprinklr in a research report on Monday, December 16th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $11.00 target price on shares of Sprinklr in a research report on Wednesday, December 11th. Wells Fargo & Company lowered shares of Sprinklr from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $8.00 to $6.00 in a research report on Tuesday, November 12th. Stifel Nicolaus lifted their target price on shares of Sprinklr from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Finally, Scotiabank lifted their target price on shares of Sprinklr from $7.70 to $8.50 and gave the company a “sector perform” rating in a research report on Thursday, December 5th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $10.13.

Sprinklr Trading Down 2.1 %

CXM stock opened at $8.70 on Friday. The firm has a 50 day moving average of $8.79 and a 200-day moving average of $8.33. Sprinklr has a 12 month low of $6.91 and a 12 month high of $14.31. The firm has a market capitalization of $2.21 billion, a P/E ratio of 54.35, a price-to-earnings-growth ratio of 2.35 and a beta of 0.79.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CXM. The Manufacturers Life Insurance Company increased its stake in shares of Sprinklr by 1.7% in the second quarter. The Manufacturers Life Insurance Company now owns 65,159 shares of the company’s stock worth $627,000 after buying an additional 1,117 shares during the period. Handelsbanken Fonder AB increased its stake in shares of Sprinklr by 41.9% in the third quarter. Handelsbanken Fonder AB now owns 27,100 shares of the company’s stock worth $209,000 after buying an additional 8,000 shares during the period. Everence Capital Management Inc. purchased a new position in shares of Sprinklr in the third quarter worth $105,000. LB Partners LLC purchased a new position in shares of Sprinklr in the third quarter worth $304,000. Finally, GW Henssler & Associates Ltd. purchased a new position in shares of Sprinklr in the third quarter worth $142,000. 40.19% of the stock is owned by hedge funds and other 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.