Morgan Stanley Cuts Sprinklr (NYSE:CXM) Price Target to $8.00

Sprinklr (NYSE:CXM - Free Report) had its price target reduced by Morgan Stanley from $11.00 to $8.00 in a research note released on Wednesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

CXM has been the topic of several other reports. JMP Securities reissued a "market outperform" rating and set a $17.00 price objective on shares of Sprinklr in a research report on Friday, February 7th. Rosenblatt Securities raised their price target on shares of Sprinklr from $10.50 to $12.00 and gave the company a "buy" rating in a research report on Thursday, March 13th. Scotiabank lifted their target price on Sprinklr from $8.50 to $9.00 and gave the stock a "sector perform" rating in a report on Thursday, March 13th. William Blair cut Sprinklr from an "outperform" rating to a "market perform" rating in a research report on Friday, February 7th. Finally, DA Davidson dropped their price target on shares of Sprinklr from $11.00 to $8.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $10.00.

Sprinklr Stock Performance

Shares of CXM traded down $0.21 during mid-day trading on Wednesday, reaching $6.89. The company had a trading volume of 1,321,383 shares, compared to its average volume of 1,752,589. Sprinklr has a 52 week low of $6.75 and a 52 week high of $12.86. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 43.07, a price-to-earnings-growth ratio of 2.31 and a beta of 0.77. The firm has a 50-day moving average price of $8.36 and a 200 day moving average price of $8.30.

Insider Buying and Selling at Sprinklr

In related news, Director Neeraj Agrawal sold 26,053 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $9.28, for a total transaction of $241,771.84. Following the completion of the sale, the director now owns 968,306 shares in the company, valued at approximately $8,985,879.68. This trade represents a 2.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 30.12% of the company's stock.

Institutional Investors Weigh In On Sprinklr

A number of institutional investors have recently added to or reduced their stakes in CXM. Stanley Laman Group Ltd. grew its stake in Sprinklr by 12.7% during the first quarter. Stanley Laman Group Ltd. now owns 689,610 shares of the company's stock valued at $5,758,000 after acquiring an additional 77,463 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Sprinklr by 209.5% in the first quarter. GAMMA Investing LLC now owns 3,677 shares of the company's stock worth $31,000 after buying an additional 2,489 shares in the last quarter. Novem Group bought a new position in Sprinklr during the fourth quarter valued at approximately $246,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Sprinklr by 20.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 250,633 shares of the company's stock valued at $2,118,000 after buying an additional 41,919 shares in the last quarter. Finally, Voloridge Investment Management LLC bought a new stake in Sprinklr in the 4th quarter worth approximately $2,128,000. 40.19% of the stock is 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.