Wells Fargo & Company Cuts Sprinklr (NYSE:CXM) Price Target to $8.00

Sprinklr (NYSE:CXM) had its price target cut by Wells Fargo & Company from $9.00 to $8.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Other equities research analysts have also issued reports about the stock. Rosenblatt Securities decreased their price objective on shares of Sprinklr from $14.00 to $11.00 and set a buy rating on the stock in a research report on Tuesday, September 3rd. KeyCorp decreased 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. 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 report on Thursday. DA Davidson decreased their price objective on shares of Sprinklr from $9.00 to $8.00 and set a neutral rating on the stock in a research report on Thursday. Finally, JMP Securities reiterated a market outperform rating and issued a $17.00 price objective on shares of Sprinklr in a research report on Monday, July 1st. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $10.30.

Sprinklr Stock Performance

Shares of NYSE CXM opened at $7.71 on Thursday. The firm has a market capitalization of $2.04 billion, a P/E ratio of 36.71, a PEG ratio of 1.53 and a beta of 0.78. Sprinklr has a one year low of $7.61 and a one year high of $17.14. The company’s fifty day moving average is $9.19 and its two-hundred day moving average is $10.84.

Sprinklr (NYSE:CXM) last released its quarterly earnings data on Wednesday, June 5th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.02 by $0.02. Sprinklr had a net margin of 7.85% and a return on equity of 9.26%. The business had revenue of $195.96 million for the quarter, compared to analyst estimates of $194.54 million. On average, sell-side analysts forecast that Sprinklr will post 0.19 earnings per share for the current fiscal year.

Insider Activity at Sprinklr

In other news, insider Diane Adams sold 13,717 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $9.20, for a total transaction of $126,196.40. Following the completion of the transaction, the insider now owns 395,222 shares of the company’s stock, valued at approximately $3,636,042.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 15,962 shares of company stock valued at $148,000. 30.12% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its stake in shares of Sprinklr by 1.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 65,159 shares of the company’s stock valued at $627,000 after acquiring an additional 1,117 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of Sprinklr by 15.6% during the 2nd quarter. CIBC Asset Management Inc now owns 12,523 shares of the company’s stock valued at $120,000 after acquiring an additional 1,694 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Sprinklr by 2.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 60,300 shares of the company’s stock valued at $580,000 after acquiring an additional 1,700 shares during the last quarter. Jump Financial LLC increased its stake in shares of Sprinklr by 5.0% during the 4th quarter. Jump Financial LLC now owns 39,670 shares of the company’s stock valued at $478,000 after acquiring an additional 1,875 shares during the last quarter. Finally, CWM LLC increased its stake in shares of Sprinklr by 111.0% during the 2nd quarter. CWM LLC now owns 3,620 shares of the company’s stock valued at $35,000 after acquiring an additional 1,904 shares during the last quarter. Institutional investors and hedge funds 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.