Scotiabank Issues Positive Forecast for Sprinklr (NYSE:CXM) Stock Price

Sprinklr (NYSE:CXM) had its price target boosted by Scotiabank from $7.70 to $8.50 in a research note released on Thursday,Benzinga reports. Scotiabank currently has a sector perform rating on the stock.

A number of other equities research analysts have also issued reports on the company. Stifel Nicolaus lifted their target price on Sprinklr from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Thursday. Wells Fargo & Company lowered 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. Cantor Fitzgerald reissued a “neutral” rating and issued a $9.00 target price on shares of Sprinklr in a research report on Thursday. Morgan Stanley dropped their target price on Sprinklr from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 5th. Finally, KeyCorp dropped their target price on Sprinklr from $16.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, September 5th. Two investment 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, the stock presently has a consensus rating of “Hold” and an average price target of $10.05.

Sprinklr Price Performance

NYSE CXM opened at $8.67 on Thursday. The firm has a market cap of $2.20 billion, a P/E ratio of 54.19, a P/E/G ratio of 2.46 and a beta of 0.81. The stock’s 50-day moving average is $7.64 and its 200-day moving average is $8.71. Sprinklr has a one year low of $6.91 and a one year high of $17.14.

Sprinklr (NYSE:CXM) last released its quarterly earnings results on Wednesday, September 4th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. The company had revenue of $197.21 million for the quarter, compared to analyst estimates of $194.58 million. Sprinklr had a return on equity of 8.40% and a net margin of 6.54%. Equities analysts anticipate that Sprinklr will post 0.11 EPS for the current year.

Insider Transactions at Sprinklr

In other news, CEO Ragy Thomas sold 12,902 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 transaction of $101,022.66. Following the completion of the transaction, the chief executive officer now directly owns 1,051,182 shares in the company, valued at approximately $8,230,755.06. The trade was a 1.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Roger H. Lee sold 225,000 shares of Sprinklr stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $7.37, for a total value of $1,658,250.00. Following the transaction, the insider now owns 514,799 shares of the company’s stock, valued at $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. In the last three months, insiders sold 338,480 shares of company stock worth $2,545,967. 30.12% of the stock is owned by company insiders.

Institutional Trading of Sprinklr

Several institutional investors have recently added to or reduced their stakes in CXM. Federated Hermes Inc. boosted its stake in Sprinklr by 107,818.1% in the 2nd quarter. Federated Hermes Inc. now owns 1,696,472 shares of the company’s stock valued at $16,320,000 after purchasing an additional 1,694,900 shares during the period. Solel Partners LP boosted its stake in Sprinklr by 46.8% in the 2nd quarter. Solel Partners LP now owns 3,692,963 shares of the company’s stock valued at $35,526,000 after purchasing an additional 1,176,726 shares during the period. Letko Brosseau & Associates Inc. boosted its stake in Sprinklr by 63.5% in the 2nd quarter. Letko Brosseau & Associates Inc. now owns 2,130,350 shares of the company’s stock valued at $20,494,000 after purchasing an additional 827,375 shares during the period. State Street Corp boosted its stake in Sprinklr by 7.2% in the 3rd quarter. State Street Corp now owns 4,826,736 shares of the company’s stock valued at $37,311,000 after purchasing an additional 322,318 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Sprinklr by 11.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,788,550 shares of the company’s stock valued at $21,560,000 after purchasing an additional 295,638 shares during the period. 40.19% of the stock is currently owned by 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.