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

Sprinklr (NYSE:CXM) was downgraded by analysts at Wells Fargo & Company from an “equal weight” rating to an “underweight” rating in a report released on Tuesday, Marketbeat.com reports. They presently have a $6.00 price target on the stock, down from their previous price target of $8.00. Wells Fargo & Company‘s target price would suggest a potential downside of 25.65% from the company’s current price.

Several other research analysts have also recently weighed in on the stock. DA Davidson cut their price target 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. Morgan Stanley reduced their target price on Sprinklr from $12.00 to $10.00 and set an “equal weight” rating for the company in a report on Thursday, September 5th. Cantor Fitzgerald dropped their price target on Sprinklr from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Rosenblatt Securities reduced their price objective on Sprinklr from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday, September 3rd. Finally, Citigroup decreased their target price 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, seven have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Sprinklr currently has an average rating of “Hold” and an average price target of $9.80.

Sprinklr Stock Performance

CXM stock opened at $8.07 on Tuesday. The business has a 50-day simple moving average of $7.51 and a two-hundred day simple moving average of $9.15. The company has a market capitalization of $2.05 billion, a P/E ratio of 44.84, a price-to-earnings-growth ratio of 2.45 and a beta of 0.76. Sprinklr has a 52-week low of $6.91 and a 52-week high of $17.14.

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, hitting the consensus estimate of $0.01. Sprinklr had a return on equity of 8.40% and a net margin of 6.54%. The business had revenue of $197.21 million during the quarter, compared to the consensus estimate of $194.58 million. As a group, sell-side analysts forecast that Sprinklr will post 0.11 earnings per share for the current fiscal year.

Insider Transactions at Sprinklr

In related news, major shareholder Roger H. Lee sold 44,884 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $7.83, for a total transaction of $351,441.72. Following the sale, the insider now directly owns 739,799 shares in the company, valued at approximately $5,792,626.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Diane Adams sold 4,282 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $7.83, for a total transaction of $33,528.06. Following the sale, the insider now directly owns 390,940 shares in the company, valued at approximately $3,061,060.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Roger H. Lee sold 44,884 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $7.83, for a total value of $351,441.72. Following the completion of the transaction, the insider now owns 739,799 shares of the company’s stock, valued at approximately $5,792,626.17. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 338,480 shares of company stock worth $2,545,967 over the last quarter. Corporate 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 modified their holdings of CXM. CWM LLC increased its holdings in Sprinklr by 111.0% during the 2nd quarter. CWM LLC now owns 3,620 shares of the company’s stock worth $35,000 after acquiring an additional 1,904 shares during the period. CIBC Asset Management Inc increased its holdings in shares of Sprinklr by 15.6% in the second quarter. CIBC Asset Management Inc now owns 12,523 shares of the company’s stock worth $120,000 after purchasing an additional 1,694 shares during the period. Everence Capital Management Inc. purchased a new stake in shares of Sprinklr in the third quarter worth $105,000. Susquehanna Fundamental Investments LLC bought a new stake in Sprinklr during the first quarter valued at $166,000. Finally, Simplicity Wealth LLC purchased a new position in Sprinklr during the second quarter worth about $148,000. 40.19% of the stock is owned by hedge funds and other institutional investors.

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.