Sprinklr (NYSE:CXM) Stock Price Down 1.3% – What’s Next?

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Rosenblatt Securities lowered their price objective on shares of Sprinklr from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday, September 3rd. Citigroup dropped their price objective on Sprinklr from $11.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Barclays lowered Sprinklr from an “overweight” rating to an “underweight” rating and cut their price objective for the stock from $10.00 to $7.00 in a research report on Monday, October 7th. JMP Securities restated a “market outperform” rating and set a $17.00 target price on shares of Sprinklr in a report on Thursday, September 5th. Finally, KeyCorp reduced their price objective on shares of Sprinklr from $16.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given 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 $9.61.

Sprinklr Stock Performance

The firm’s fifty day moving average is $7.54 and its two-hundred day moving average is $8.88. The company has a market cap of $2.08 billion, a P/E ratio of 45.56, a P/E/G ratio of 2.48 and a beta of 0.76.

Sprinklr (NYSE:CXM) last posted its earnings results on Wednesday, September 4th. The company reported $0.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.01. Sprinklr had a net margin of 6.54% and a return on equity of 8.40%. The firm had revenue of $197.21 million during the quarter, compared to analyst estimates of $194.58 million. On average, equities research analysts expect that Sprinklr, Inc. will post 0.11 EPS for the current year.

Insider Activity

In other news, major shareholder Roger H. Lee sold 44,884 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $7.83, for a total transaction of $351,441.72. Following the transaction, the insider now owns 739,799 shares of the company’s stock, valued at approximately $5,792,626.17. This represents a 5.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Diane Adams sold 4,282 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $7.83, for a total value of $33,528.06. Following the completion of the transaction, the insider now directly owns 390,940 shares in the company, valued at $3,061,060.20. This trade represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 338,480 shares of company stock valued at $2,545,967. 30.12% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sprinklr

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in Sprinklr during the second quarter valued at approximately $553,000. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Sprinklr during the 1st quarter worth $494,000. Vanguard Group Inc. grew its stake in 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 purchasing an additional 3,575,001 shares during the last quarter. Bayesian Capital Management LP bought a new position in Sprinklr in the first quarter worth about $1,012,000. Finally, Horrell Capital Management Inc. lifted its position in shares of Sprinklr by 31.7% during the third quarter. Horrell Capital Management Inc. now owns 685,000 shares of the company’s stock valued at $5,295,000 after buying an additional 165,000 shares during the last quarter. 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.