Sprinklr (NYSE:CXM) Trading 0.4% Higher – Still a Buy?

Sprinklr, Inc. (NYSE:CXM) shot up 0.4% during mid-day trading on Thursday . The stock traded as high as $8.36 and last traded at $8.21. 2,362,386 shares changed hands during trading, an increase of 4% from the average session volume of 2,282,263 shares. The stock had previously closed at $8.18.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Morgan Stanley decreased their target price on shares of Sprinklr from $12.00 to $10.00 and set an “equal weight” rating for the company in a report on Thursday, September 5th. Citigroup decreased their price objective on shares of Sprinklr from $11.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. JMP Securities reissued a “market outperform” rating and set a $17.00 target price on shares of Sprinklr in a research note on Thursday, September 5th. KeyCorp decreased their target price on Sprinklr from $16.00 to $12.00 and set an “overweight” rating for the company in a research report on Thursday, September 5th. Finally, Cantor Fitzgerald dropped their price target on Sprinklr from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Two 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. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $9.61.

Sprinklr Price Performance

The business has a 50 day simple moving average of $7.55 and a 200 day simple moving average of $8.85. The stock has a market cap of $2.08 billion, a PE ratio of 45.61, a P/E/G ratio of 2.48 and a beta of 0.76.

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

Insider Transactions at Sprinklr

In other news, major shareholder Roger H. Lee sold 44,884 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $7.83, for a total transaction of $351,441.72. Following the completion of the sale, the insider now owns 739,799 shares in the company, valued at approximately $5,792,626.17. This represents a 5.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ragy Thomas sold 12,902 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $7.83, for a total value of $101,022.66. Following the transaction, the chief executive officer now directly owns 1,051,182 shares in the company, valued at approximately $8,230,755.06. This represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 338,480 shares of company stock worth $2,545,967 in the last 90 days. 30.12% of the stock is owned by insiders.

Institutional Trading of Sprinklr

Institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in Sprinklr in the 2nd quarter valued at $553,000. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Sprinklr in the first quarter valued at about $494,000. Vanguard Group Inc. increased its stake in shares of Sprinklr by 30.6% in the first quarter. Vanguard Group Inc. now owns 15,248,951 shares of the company’s stock worth $187,105,000 after purchasing an additional 3,575,001 shares during the period. Horrell Capital Management Inc. increased its stake in shares of Sprinklr by 31.7% in the third quarter. Horrell Capital Management Inc. now owns 685,000 shares of the company’s stock worth $5,295,000 after purchasing an additional 165,000 shares during the period. Finally, CWM LLC lifted its position in shares of Sprinklr by 111.0% during the 2nd quarter. CWM LLC now owns 3,620 shares of the company’s stock worth $35,000 after purchasing an additional 1,904 shares during the last quarter. 40.19% of the stock is currently owned by institutional investors and hedge funds.

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.