Sprinklr (NYSE:CXM) Stock Price Up 0.4% – Should You Buy?

Shares of Sprinklr, Inc. (NYSE:CXM) rose 0.4% on Thursday . The stock traded as high as $8.36 and last traded at $8.21. Approximately 2,362,386 shares changed hands during trading, an increase of 4% from the average daily volume of 2,282,263 shares. The stock had previously closed at $8.18.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CXM shares. Morgan Stanley lowered their price objective on Sprinklr from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 5th. Scotiabank initiated coverage on shares of Sprinklr in a research note on Tuesday, November 19th. They set a “sector perform” rating and a $7.70 price target on the stock. Wells Fargo & Company lowered shares of Sprinklr from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $8.00 to $6.00 in a research note on Tuesday, November 12th. Citigroup dropped their target price on Sprinklr from $11.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $17.00 price target on shares of Sprinklr 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $9.61.

Sprinklr Stock Performance

The business has a 50 day simple moving average of $7.57 and a two-hundred day simple moving average of $8.82. The firm has a market capitalization of $2.09 billion, a P/E ratio of 45.75, a price-to-earnings-growth ratio of 2.45 and a beta of 0.76.

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

Insider Activity

In related news, major shareholder Roger H. Lee sold 225,000 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $7.37, for a total transaction of $1,658,250.00. Following the transaction, the insider now directly owns 514,799 shares of the company’s stock, valued at approximately $3,794,068.63. This trade represents a 30.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Diane Adams sold 4,282 shares of the business’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 $33,528.06. Following the completion of the sale, the insider now owns 390,940 shares of the company’s stock, valued at $3,061,060.20. The trade was a 1.08 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 338,480 shares of company stock worth $2,545,967. 30.12% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sprinklr

Several institutional investors and hedge funds have recently made changes to their positions in CXM. SG Americas Securities LLC purchased a new stake in Sprinklr during the second quarter valued at about $553,000. Teachers Retirement System of The State of Kentucky purchased a new stake in Sprinklr during the 1st quarter valued at about $494,000. Vanguard Group Inc. grew its position in Sprinklr by 30.6% during the 1st quarter. Vanguard Group Inc. now owns 15,248,951 shares of the company’s stock worth $187,105,000 after acquiring an additional 3,575,001 shares during the last quarter. Horrell Capital Management Inc. increased its stake in Sprinklr by 31.7% in the 3rd quarter. Horrell Capital Management Inc. now owns 685,000 shares of the company’s stock worth $5,295,000 after purchasing an additional 165,000 shares during the period. Finally, CWM LLC lifted its position in Sprinklr by 111.0% in the second quarter. CWM LLC now owns 3,620 shares of the company’s stock valued at $35,000 after purchasing an additional 1,904 shares during the last quarter. Institutional investors own 40.19% of the company’s stock.

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.