Sprinklr (NYSE:CXM) Upgraded by Scotiabank to Hold Rating

Sprinklr (NYSE:CXM) was upgraded by investment analysts at Scotiabank to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other brokerages have also weighed in on CXM. 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. JMP Securities reaffirmed a “market outperform” rating and issued a $17.00 price objective on shares of Sprinklr in a research note on Thursday, September 5th. Cantor Fitzgerald dropped their target price on shares of Sprinklr from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. DA Davidson reduced their price target on shares of Sprinklr from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Finally, Barclays downgraded 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. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $9.61.

Sprinklr Trading Up 0.3 %

Shares of CXM opened at $7.79 on Monday. The firm has a fifty day moving average price of $7.51 and a 200-day moving average price of $9.01. The firm has a market capitalization of $1.97 billion, a P/E ratio of 43.25, a P/E/G ratio of 2.29 and a beta of 0.76. Sprinklr has a 12-month low of $6.91 and a 12-month high of $17.14.

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

Insider Buying and Selling

In related news, CEO Ragy Thomas sold 12,902 shares of Sprinklr stock in a transaction that occurred on Monday, September 16th. The shares were 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 directly owns 1,051,182 shares in the company, valued at $8,230,755.06. This trade represents a 1.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Roger H. Lee sold 225,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $7.37, for a total transaction of $1,658,250.00. Following the transaction, the insider now owns 514,799 shares in the company, valued at $3,794,068.63. The trade was a 30.41 % 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 ninety days. 30.12% of the stock is owned by insiders.

Institutional Investors Weigh In On Sprinklr

Institutional investors and hedge funds have recently made changes to their positions in the stock. CWM LLC increased its position in shares of Sprinklr by 111.0% in the 2nd quarter. CWM LLC now owns 3,620 shares of the company’s stock valued at $35,000 after acquiring an additional 1,904 shares during the period. Everence Capital Management Inc. acquired a new position in shares of Sprinklr in the third quarter valued at about $105,000. CIBC Asset Management Inc increased its holdings in shares of Sprinklr by 15.6% in the second quarter. CIBC Asset Management Inc now owns 12,523 shares of the company’s stock valued at $120,000 after purchasing an additional 1,694 shares during the period. GSA Capital Partners LLP purchased a new position in shares of Sprinklr in the third quarter worth about $129,000. Finally, GW Henssler & Associates Ltd. acquired a new stake in shares of Sprinklr during the third quarter worth about $142,000. 40.19% of the stock is currently owned by institutional investors and hedge funds.

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.