Sprinklr, Inc. (NYSE:CXM – Get Rating)’s share price hit a new 52-week low during mid-day trading on Wednesday after Wells Fargo & Company lowered their price target on the stock from $12.00 to $9.00. Wells Fargo & Company currently has an equal weight rating on the stock. Sprinklr traded as low as $7.22 and last traded at $7.48, with a volume of 8629 shares traded. The stock had previously closed at $8.25.
Several other equities research analysts have also recently weighed in on the stock. Morgan Stanley lowered their price objective on shares of Sprinklr from $14.00 to $10.00 and set an “equal weight” rating for the company in a research report on Wednesday. BTIG Research began coverage on shares of Sprinklr in a research report on Thursday, September 29th. They issued a “buy” rating and a $12.00 price objective for the company. JMP Securities lowered their price objective on shares of Sprinklr from $22.00 to $16.00 and set a “market outperform” rating for the company in a research report on Wednesday. Stifel Nicolaus cut shares of Sprinklr from a “buy” rating to a “hold” rating and lowered their price objective for the company from $12.00 to $8.00 in a research report on Wednesday. Finally, Oppenheimer lowered their price target on shares of Sprinklr from $16.00 to $10.00 and set an “outperform” rating for the company in a research report on Wednesday. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $11.56.
Insider Buying and Selling
In related news, General Counsel Daniel P. Haley sold 40,000 shares of Sprinklr stock in a transaction that occurred on Monday, October 17th. The shares were sold at an average price of $8.97, for a total transaction of $358,800.00. Following the transaction, the general counsel now owns 100,000 shares of the company’s stock, valued at approximately $897,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Sprinklr news, CFO Manish Sarin sold 3,931 shares of Sprinklr stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $10.21, for a total value of $40,135.51. Following the transaction, the chief financial officer now owns 559,015 shares of the company’s stock, valued at $5,707,543.15. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Daniel P. Haley sold 40,000 shares of Sprinklr stock in a transaction that occurred on Monday, October 17th. The shares were sold at an average price of $8.97, for a total transaction of $358,800.00. Following the completion of the transaction, the general counsel now directly owns 100,000 shares in the company, valued at approximately $897,000. The disclosure for this sale can be found here. Insiders have sold 48,828 shares of company stock valued at $457,439 in the last 90 days. 43.75% of the stock is owned by insiders.
Institutional Trading of Sprinklr
Hedge funds and other institutional investors have recently made changes to their positions in the business. Citigroup Inc. raised its holdings in shares of Sprinklr by 308.9% in the first quarter. Citigroup Inc. now owns 2,212 shares of the company’s stock valued at $26,000 after purchasing an additional 1,671 shares during the last quarter. Advisors Asset Management Inc. acquired a new position in Sprinklr during the first quarter worth $44,000. Captrust Financial Advisors acquired a new position in Sprinklr during the second quarter worth $48,000. Tower Research Capital LLC TRC acquired a new position in Sprinklr during the third quarter worth $66,000. Finally, UBS Group AG increased its holdings in Sprinklr by 23.4% during the first quarter. UBS Group AG now owns 5,862 shares of the company’s stock worth $69,000 after buying an additional 1,111 shares during the last quarter. 53.95% of the stock is currently owned by institutional investors and hedge funds.
Sprinklr Stock Down 3.4 %
The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of -17.98 and a beta of 0.74. The stock’s fifty day moving average is $8.82 and its two-hundred day moving average is $10.46.
Sprinklr (NYSE:CXM – Get Rating) last issued its earnings results on Thursday, September 8th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. The business had revenue of $150.60 million for the quarter, compared to the consensus estimate of $147.45 million. Sprinklr had a negative net margin of 20.66% and a negative return on equity of 20.08%. The firm’s revenue for the quarter was up 26.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.20) earnings per share. As a group, analysts anticipate that Sprinklr, Inc. will post -0.32 EPS for the current year.
About Sprinklr
Sprinklr, Inc provides enterprise cloud software products worldwide. The company offers Unified Customer Experience Management platform, a purpose-built to analyze unstructured customer experience data, built to scale across future and modern channels, and integrates all stages of the customer journey.