Sprinklr (NYSE:CXM) Price Target Lowered to $8.00 at Wells Fargo & Company

Sprinklr (NYSE:CXM) had its target price lowered by Wells Fargo & Company from $9.00 to $8.00 in a research report sent to investors on Thursday morning, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Other analysts also recently issued research reports about the stock. Morgan Stanley dropped their target price on shares of Sprinklr from $12.00 to $10.00 and set an equal weight rating for the company in a research report on Thursday. Rosenblatt Securities decreased their price target on Sprinklr from $14.00 to $11.00 and set a buy rating for the company in a report on Tuesday, September 3rd. KeyCorp decreased their price target on Sprinklr from $16.00 to $12.00 and set an overweight rating for the company in a report on Thursday. JMP Securities restated a market outperform rating and issued a $17.00 price target on shares of Sprinklr in a report on Monday, July 1st. Finally, 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. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Sprinklr presently has a consensus rating of Hold and an average price target of $10.30.

Sprinklr Stock Performance

CXM opened at $7.71 on Thursday. The firm has a 50 day moving average price of $9.19 and a 200 day moving average price of $10.84. The company has a market cap of $2.04 billion, a PE ratio of 36.71, a price-to-earnings-growth ratio of 1.53 and a beta of 0.78. Sprinklr has a 1 year low of $7.61 and a 1 year high of $17.14.

Sprinklr (NYSE:CXM) last posted its earnings results on Wednesday, June 5th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. The firm had revenue of $195.96 million during the quarter, compared to the consensus estimate of $194.54 million. Sprinklr had a net margin of 7.85% and a return on equity of 9.26%. On average, sell-side analysts predict that Sprinklr will post 0.19 earnings per share for the current year.

Insider Activity

In other news, insider Diane Adams sold 13,717 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $9.20, for a total transaction of $126,196.40. Following the completion of the transaction, the insider now directly owns 395,222 shares in the company, valued at approximately $3,636,042.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last three months, insiders sold 15,962 shares of company stock worth $148,000. 30.12% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sprinklr

Large investors have recently added to or reduced their stakes in the company. Mather Group LLC. bought a new position in Sprinklr during the first quarter worth $28,000. CWM LLC lifted its stake in Sprinklr by 111.0% during the second 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. Quest Partners LLC bought a new position in Sprinklr during the fourth quarter worth $115,000. CIBC Asset Management Inc lifted its stake in Sprinklr by 15.6% during 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 last quarter. Finally, Simplicity Wealth LLC bought a new position in Sprinklr during the second quarter worth $148,000. 40.19% of the stock is currently owned by 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.