Sprinklr (NYSE:CXM) Shares Down 4.7% – Here’s Why

Shares of Sprinklr, Inc. (NYSE:CXM) dropped 4.7% on Tuesday . The company traded as low as $7.22 and last traded at $7.24. Approximately 1,109,767 shares were traded during trading, a decline of 49% from the average daily volume of 2,191,873 shares. The stock had previously closed at $7.60.

Analysts Set New Price Targets

CXM has been the topic of a number of recent research reports. Barclays cut shares of Sprinklr from an “overweight” rating to an “underweight” rating and reduced their price target for the company from $10.00 to $7.00 in a research report on Monday, October 7th. Rosenblatt Securities reduced their price target 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 reduced their price target on shares of Sprinklr from $16.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, September 5th. Cantor Fitzgerald reduced their price target on shares of Sprinklr from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Finally, Morgan Stanley reduced their price target 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, September 5th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Sprinklr presently has a consensus rating of “Hold” and an average target price of $10.00.

Sprinklr Stock Up 6.6 %

The business’s 50 day moving average price is $7.58 and its 200-day moving average price is $9.28. The company has a market cap of $1.93 billion, a PE ratio of 42.28, a price-to-earnings-growth ratio of 2.25 and a beta of 0.76.

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

Insider Buying and Selling

In other Sprinklr news, CMO Arun Pattabhiraman sold 10,291 shares of Sprinklr stock in a transaction on Monday, September 16th. The shares were sold at an average price of $7.83, for a total value of $80,578.53. Following the completion of the transaction, the chief marketing officer now owns 448,947 shares of the company’s stock, valued at $3,515,255.01. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Sprinklr news, major shareholder Roger H. Lee sold 225,000 shares of Sprinklr stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $7.37, for a total value of $1,658,250.00. Following the completion of the transaction, the insider now owns 514,799 shares of the company’s stock, valued at $3,794,068.63. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CMO Arun Pattabhiraman sold 10,291 shares of the business’s stock in a transaction 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 transaction, the chief marketing officer now directly owns 448,947 shares of the company’s stock, valued at approximately $3,515,255.01. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 338,480 shares of company stock worth $2,545,967. Insiders own 30.12% of the company’s stock.

Hedge Funds Weigh In On Sprinklr

Several hedge funds and other institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company boosted its holdings in shares of Sprinklr by 1.7% during the second 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 period. CIBC Asset Management Inc lifted its holdings in Sprinklr by 15.6% in the second quarter. CIBC Asset Management Inc now owns 12,523 shares of the company’s stock worth $120,000 after purchasing an additional 1,694 shares during the period. Louisiana State Employees Retirement System lifted its holdings in Sprinklr by 2.9% in the second quarter. Louisiana State Employees Retirement System now owns 60,300 shares of the company’s stock worth $580,000 after purchasing an additional 1,700 shares during the period. CWM LLC lifted its holdings in Sprinklr by 111.0% in the second quarter. CWM LLC now owns 3,620 shares of the company’s stock worth $35,000 after purchasing an additional 1,904 shares during the period. Finally, Commonwealth Equity Services LLC lifted its holdings in Sprinklr by 12.0% in the second quarter. Commonwealth Equity Services LLC now owns 22,854 shares of the company’s stock worth $220,000 after purchasing an additional 2,450 shares during the period. 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.