Sprinklr (NYSE:CXM) Stock Price Down 1.3% – Here’s Why

Sprinklr, Inc. (NYSE:CXM) shares traded down 1.3% during trading on Tuesday . The stock traded as low as $8.11 and last traded at $8.20. 129,492 shares were traded during mid-day trading, a decline of 94% from the average session volume of 2,272,651 shares. The stock had previously closed at $8.31.

Wall Street Analyst Weigh In

Several research firms have weighed in on CXM. Scotiabank assumed coverage on Sprinklr in a research report on Tuesday, November 19th. They set a “sector perform” rating and a $7.70 price target for the company. Barclays cut Sprinklr from an “overweight” rating to an “underweight” rating and reduced their price objective for the stock from $10.00 to $7.00 in a research note on Monday, October 7th. Cantor Fitzgerald reduced their price objective on Sprinklr from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Wells Fargo & Company cut Sprinklr from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $8.00 to $6.00 in a research note on Tuesday, November 12th. Finally, Rosenblatt Securities reduced their price objective on Sprinklr from $14.00 to $11.00 and set a “buy” rating on the stock in a research note on Tuesday, September 3rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $9.61.

Sprinklr Price Performance

The company has a market capitalization of $2.08 billion, a P/E ratio of 45.61, a price-to-earnings-growth ratio of 2.48 and a beta of 0.76. The company has a fifty day moving average price of $7.55 and a 200 day moving average price of $8.85.

Sprinklr (NYSE:CXM) last issued its quarterly earnings data on Wednesday, September 4th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. The business had revenue of $197.21 million during the quarter, compared to the consensus estimate of $194.58 million. Sprinklr had a return on equity of 8.40% and a net margin of 6.54%. On average, equities research analysts predict that Sprinklr, Inc. will post 0.11 earnings per share for the current fiscal year.

Insider Transactions at Sprinklr

In other Sprinklr news, CMO Arun Pattabhiraman sold 10,291 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $7.83, for a total value of $80,578.53. Following the completion of the sale, the chief marketing officer now directly owns 448,947 shares in the company, valued at $3,515,255.01. This represents a 2.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ragy Thomas sold 12,902 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $7.83, for a total value of $101,022.66. Following the completion of the sale, the chief executive officer now owns 1,051,182 shares of the company’s stock, valued at $8,230,755.06. This trade represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 338,480 shares of company stock worth $2,545,967. Company insiders own 30.12% of the company’s stock.

Institutional Investors Weigh In On Sprinklr

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings 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 valued at $187,105,000 after buying an additional 3,575,001 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of Sprinklr by 107,818.1% in the second quarter. Federated Hermes Inc. now owns 1,696,472 shares of the company’s stock valued at $16,320,000 after buying an additional 1,694,900 shares in the last quarter. Solel Partners LP increased its holdings in shares of Sprinklr by 46.8% in the second quarter. Solel Partners LP now owns 3,692,963 shares of the company’s stock valued at $35,526,000 after buying an additional 1,176,726 shares in the last quarter. Letko Brosseau & Associates Inc. increased its holdings in shares of Sprinklr by 63.5% in the second quarter. Letko Brosseau & Associates Inc. now owns 2,130,350 shares of the company’s stock valued at $20,494,000 after buying an additional 827,375 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Sprinklr by 7.2% in the third quarter. State Street Corp now owns 4,826,736 shares of the company’s stock valued at $37,311,000 after buying an additional 322,318 shares in 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.