Sprinklr (NYSE:CXM) Sees Large Volume Increase Following Analyst Upgrade

Sprinklr, Inc. (NYSE:CXM) shares saw an uptick in trading volume on Thursday after Barclays raised their price target on the stock from $7.00 to $9.00. Barclays currently has an underweight rating on the stock. 1,810,677 shares were traded during trading, a decline of 22% from the previous session’s volume of 2,311,000 shares.The stock last traded at $8.53 and had previously closed at $8.64.

A number of other research analysts have also recently issued reports on CXM. Morgan Stanley decreased their price objective on shares of 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 assumed coverage on Sprinklr in a research note on Tuesday, November 19th. They issued a “sector perform” rating and a $7.70 price target on the stock. JMP Securities reissued a “market outperform” rating and issued a $17.00 target price on shares of Sprinklr in a report on Thursday, September 5th. DA Davidson dropped their price target on Sprinklr from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Finally, Wells Fargo & Company cut Sprinklr from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $8.00 to $6.00 in a report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $9.75.

Insiders Place Their Bets

In other news, CMO Arun Pattabhiraman sold 10,291 shares of the firm’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 $80,578.53. Following the completion of the sale, the chief marketing officer now owns 448,947 shares of the company’s stock, valued at $3,515,255.01. This trade represents a 2.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Roger H. Lee sold 225,000 shares of the business’s stock in a transaction 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. In the last ninety days, insiders sold 338,480 shares of company stock worth $2,545,967. Company insiders own 30.12% of the company’s stock.

Institutional Trading of Sprinklr

Several large investors have recently made changes to their positions in the company. California State Teachers Retirement System boosted its holdings in Sprinklr by 4.3% in the first quarter. California State Teachers Retirement System now owns 119,751 shares of the company’s stock worth $1,469,000 after acquiring an additional 4,954 shares in the last quarter. Comerica Bank acquired a new stake in Sprinklr in the 1st quarter valued at $597,000. Teachers Retirement System of The State of Kentucky bought a new stake in Sprinklr during the 1st quarter valued at $494,000. CWM LLC raised its holdings in Sprinklr by 111.0% during the second quarter. CWM LLC now owns 3,620 shares of the company’s stock worth $35,000 after buying an additional 1,904 shares during the last quarter. Finally, Simplicity Wealth LLC bought a new position in shares of Sprinklr in the second quarter valued at $148,000. 40.19% of the stock is currently owned by institutional investors and hedge funds.

Sprinklr Price Performance

The business’s fifty day moving average price is $7.60 and its 200-day moving average price is $8.71. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 47.11, a PEG ratio of 2.46 and a beta of 0.81.

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

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.