Wells Fargo & Company Downgrades Sprinklr (NYSE:CXM) to Underweight

Sprinklr (NYSE:CXM) was downgraded by stock analysts at Wells Fargo & Company from an “equal weight” rating to an “underweight” rating in a note issued to investors on Tuesday,Finviz reports. They presently have a $6.00 price objective on the stock, down from their prior price objective of $8.00. Wells Fargo & Company‘s price target would indicate a potential downside of 27.67% from the stock’s previous close.

Several other equities research analysts also recently commented on CXM. Citigroup decreased their target price on shares of Sprinklr from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. DA Davidson lowered their price objective on Sprinklr from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Morgan Stanley cut their target price on Sprinklr from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 5th. Rosenblatt Securities lowered their price target on Sprinklr from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Tuesday, September 3rd. Finally, Barclays downgraded shares of 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 report on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $9.80.

Sprinklr Trading Up 9.7 %

Shares of NYSE CXM opened at $8.30 on Tuesday. The firm’s 50-day moving average price is $7.52 and its 200-day moving average price is $9.18. The firm has a market capitalization of $2.10 billion, a P/E ratio of 46.09, a P/E/G ratio of 2.26 and a beta of 0.76. Sprinklr has a 1-year low of $6.91 and a 1-year high of $17.14.

Sprinklr (NYSE:CXM) last announced its quarterly earnings results on Wednesday, September 4th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. Sprinklr had a return on equity of 8.40% and a net margin of 6.54%. The business had revenue of $197.21 million for the quarter, compared to analyst estimates of $194.58 million. Equities research analysts forecast that Sprinklr will post 0.11 EPS for the current year.

Insider Buying and Selling at Sprinklr

In other news, CEO Ragy Thomas sold 12,902 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $7.83, for a total transaction of $101,022.66. Following the transaction, the chief executive officer now owns 1,051,182 shares of the company’s stock, valued at $8,230,755.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Ragy Thomas sold 12,902 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 1,051,182 shares of the company’s stock, valued at $8,230,755.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Manish Sarin sold 22,738 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $7.83, for a total transaction of $178,038.54. Following the transaction, the chief financial officer now directly owns 748,918 shares of the company’s stock, valued at approximately $5,864,027.94. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 338,480 shares of company stock valued at $2,545,967. Company insiders own 30.12% of the company’s stock.

Hedge Funds Weigh In On Sprinklr

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CXM. SG Americas Securities LLC purchased a new position in Sprinklr in the 2nd quarter worth $553,000. Teachers Retirement System of The State of Kentucky bought a new stake in Sprinklr in the first quarter valued at approximately $494,000. Vanguard Group Inc. boosted its stake in shares of Sprinklr by 30.6% during 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 period. Bayesian Capital Management LP bought a new position in shares of Sprinklr in the first quarter worth approximately $1,012,000. Finally, Horrell Capital Management Inc. increased its stake in shares of Sprinklr by 31.7% in the third quarter. Horrell Capital Management Inc. now owns 685,000 shares of the company’s stock worth $5,295,000 after buying an additional 165,000 shares during the period. 40.19% of the stock is currently owned by hedge funds and other institutional investors.

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.