Scotiabank Initiates Coverage on Sprinklr (NYSE:CXM)

Equities research analysts at Scotiabank initiated coverage on shares of Sprinklr (NYSE:CXM) in a report released on Tuesday,Briefing.com Automated Import reports. The brokerage set a “sector perform” rating and a $7.70 price target on the stock. Scotiabank’s price target suggests a potential downside of 0.71% from the stock’s previous close.

Several other brokerages also recently weighed in on CXM. KeyCorp decreased their target price on Sprinklr from $16.00 to $12.00 and set an “overweight” rating for the company in a research report on Thursday, September 5th. Wells Fargo & Company cut Sprinklr from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $8.00 to $6.00 in a research report on Tuesday, November 12th. Morgan Stanley cut their price objective on Sprinklr from $12.00 to $10.00 and set an “equal weight” rating on the stock in a report on Thursday, September 5th. Cantor Fitzgerald reduced their price objective on Sprinklr from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Finally, JMP Securities restated a “market outperform” rating and issued a $17.00 price objective on shares of Sprinklr in a research note on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $9.61.

Sprinklr Stock Performance

Shares of CXM opened at $7.76 on Tuesday. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of 43.09, a price-to-earnings-growth ratio of 2.29 and a beta of 0.76. The firm has a 50-day simple moving average of $7.50 and a 200-day simple moving average of $9.04. Sprinklr has a fifty-two week low of $6.91 and a fifty-two week high of $17.14.

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

Insider Activity

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 value of $80,578.53. Following the transaction, the chief marketing officer now owns 448,947 shares in the company, valued at approximately $3,515,255.01. This trade represents a 2.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Diane Adams sold 4,282 shares of the 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 approximately $3,061,060.20. This trade represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 338,480 shares of company stock worth $2,545,967 over the last ninety days. Company insiders own 30.12% of the company’s stock.

Hedge Funds Weigh In On Sprinklr

A number of hedge funds have recently made changes to their positions in the business. CWM LLC lifted its holdings in shares of Sprinklr by 111.0% in 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. Everence Capital Management Inc. bought a new position in shares of Sprinklr during the 3rd quarter worth approximately $105,000. CIBC Asset Management Inc grew its position in Sprinklr by 15.6% during the 2nd 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 last quarter. GSA Capital Partners LLP purchased a new position in Sprinklr in the 3rd quarter worth $129,000. Finally, GW Henssler & Associates Ltd. acquired a new stake in shares of Sprinklr in the third quarter worth $142,000. 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.