Sprinklr (NYSE:CXM) Shares Up 1.9% - Here's Why

Sprinklr, Inc. (NYSE:CXM - Get Free Report)'s stock price shot up 1.9% on Friday . The stock traded as high as $7.57 and last traded at $7.57. 72,702 shares were traded during mid-day trading, a decline of 97% from the average session volume of 2,182,454 shares. The stock had previously closed at $7.43.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CXM. Wells Fargo & Company decreased their price target on shares of Sprinklr from $9.00 to $8.00 and set an "equal weight" rating on the stock in a research note on Thursday, September 5th. Barclays downgraded shares of Sprinklr from an "overweight" rating to an "underweight" rating and decreased their price target for the stock from $10.00 to $7.00 in a research note on Monday, October 7th. KeyCorp decreased their price target on shares of Sprinklr from $16.00 to $12.00 and set an "overweight" rating on the stock in a research note on Thursday, September 5th. DA Davidson cut their price objective on shares of Sprinklr from $9.00 to $8.00 and set a "neutral" rating for the company in a research report on Thursday, September 5th. Finally, Morgan Stanley cut their price objective on shares of Sprinklr from $12.00 to $10.00 and set an "equal weight" rating for the company in a research report on Thursday, September 5th. One research 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, the stock currently has an average rating of "Hold" and a consensus price target of $10.00.

Sprinklr Stock Up 1.5 %

The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of 41.89, a PEG ratio of 2.20 and a beta of 0.76. The business's 50-day simple moving average is $7.67 and its two-hundred day simple moving average is $9.37.

Sprinklr (NYSE:CXM - Get Free Report) last announced its quarterly earnings data on Wednesday, September 4th. The company reported $0.01 earnings per share for the quarter, meeting analysts' consensus estimates of $0.01. The firm had revenue of $197.21 million during the quarter, compared to analysts' expectations of $194.58 million. Sprinklr had a net margin of 6.54% and a return on equity of 8.40%. Sell-side analysts anticipate that Sprinklr, Inc. will post 0.11 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Roger H. Lee sold 44,884 shares of the business's stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $7.83, for a total transaction of $351,441.72. Following the completion of the sale, the insider now owns 739,799 shares in the company, valued at approximately $5,792,626.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Roger H. Lee sold 44,884 shares of Sprinklr stock in a transaction on Monday, September 9th. The shares were sold at an average price of $7.83, for a total value of $351,441.72. Following the transaction, the insider now directly owns 739,799 shares of the company's stock, valued at $5,792,626.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Diane Adams sold 12,915 shares of Sprinklr stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $7.83, for a total transaction of $101,124.45. Following the completion of the transaction, the insider now directly owns 376,942 shares in the company, valued at $2,951,455.86. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 338,480 shares of company stock worth $2,545,967 over the last 90 days. 30.12% of the stock is owned by insiders.

Hedge Funds Weigh In On Sprinklr

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Sprinklr by 30.6% in the 1st quarter. Vanguard Group Inc. now owns 15,248,951 shares of the company's stock valued at $187,105,000 after purchasing an additional 3,575,001 shares in the last quarter. Solel Partners LP raised its holdings in Sprinklr by 46.8% in the 2nd quarter. Solel Partners LP now owns 3,692,963 shares of the company's stock valued at $35,526,000 after acquiring an additional 1,176,726 shares during the last quarter. Letko Brosseau & Associates Inc. raised its holdings in Sprinklr by 63.5% in the 2nd quarter. Letko Brosseau & Associates Inc. now owns 2,130,350 shares of the company's stock valued at $20,494,000 after acquiring an additional 827,375 shares during the last quarter. Federated Hermes Inc. raised its holdings in Sprinklr by 107,818.1% in the 2nd quarter. Federated Hermes Inc. now owns 1,696,472 shares of the company's stock valued at $16,320,000 after acquiring an additional 1,694,900 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Sprinklr by 25.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 889,269 shares of the company's stock valued at $8,555,000 after acquiring an additional 178,437 shares during the last quarter. Hedge funds and other 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.