Sprinklr (NYSE:CXM) Coverage Initiated at Scotiabank

Equities researchers at Scotiabank initiated coverage on shares of Sprinklr (NYSE:CXM) in a report released on Tuesday,Briefing.com Automated Import reports. The firm set a “sector perform” rating and a $7.70 price target on the stock. Scotiabank’s price target would suggest a potential downside of 0.71% from the stock’s previous close.

A number of other analysts have also commented on the company. JMP Securities reaffirmed a “market outperform” rating and set a $17.00 price objective on shares of Sprinklr in a research note on Thursday, September 5th. DA Davidson decreased their price target on Sprinklr from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Barclays lowered shares of Sprinklr from an “overweight” rating to an “underweight” rating and dropped their price objective for the company from $10.00 to $7.00 in a research note on Monday, October 7th. KeyCorp lowered their price target on shares of Sprinklr from $16.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, September 5th. Finally, Rosenblatt Securities decreased their price objective on shares of Sprinklr from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Tuesday, September 3rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Sprinklr has an average rating of “Hold” and an average target price of $9.61.

Sprinklr Price Performance

Shares of CXM opened at $7.76 on Tuesday. The firm has a 50-day simple moving average of $7.50 and a two-hundred day simple moving average of $9.04. The stock has a market cap of $1.97 billion, a PE ratio of 43.09, a P/E/G ratio of 2.29 and a beta of 0.76. Sprinklr has a 1-year low of $6.91 and a 1-year high of $17.14.

Sprinklr (NYSE:CXM) last released its quarterly earnings results on Wednesday, September 4th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. The firm 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%. As a group, sell-side analysts expect 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 on Monday, September 9th. The shares were 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 directly owns 739,799 shares in the company, valued at approximately $5,792,626.17. The trade was a 5.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Diane Adams sold 12,915 shares of Sprinklr stock in a transaction that occurred on Wednesday, September 18th. The stock was 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 directly owns 376,942 shares in the company, valued at $2,951,455.86. This trade represents a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 338,480 shares of company stock worth $2,545,967. Company insiders own 30.12% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CXM. SG Americas Securities LLC bought a new position in Sprinklr during the second quarter valued at $553,000. Teachers Retirement System of The State of Kentucky bought a new position in Sprinklr in the 1st quarter valued at $494,000. Vanguard Group Inc. lifted its position in shares of Sprinklr by 30.6% during 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 last quarter. Bayesian Capital Management LP purchased a new stake in shares of Sprinklr during the first quarter valued at $1,012,000. Finally, Horrell Capital Management Inc. grew its holdings 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 last quarter. Hedge funds and other institutional investors own 40.19% of the company’s stock.

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.