Sprinklr (NYSE:CXM) Shares Up 2.1% - Here's Why

Sprinklr, Inc. (NYSE:CXM - Get Free Report)'s share price shot up 2.1% during trading on Monday . The company traded as high as $7.70 and last traded at $7.70. 162,440 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 2,183,984 shares. The stock had previously closed at $7.54.

Analyst Ratings Changes

A number of brokerages recently weighed in on CXM. JMP Securities reiterated a "market outperform" rating and set a $17.00 price target on shares of Sprinklr in a research note on Thursday, September 5th. Wells Fargo & Company lowered their price target on Sprinklr from $9.00 to $8.00 and set an "equal weight" rating on the stock in a report on Thursday, September 5th. Barclays downgraded Sprinklr from an "overweight" rating to an "underweight" rating and reduced their price objective for the company from $10.00 to $7.00 in a research note on Monday, October 7th. Morgan Stanley lowered their target price on Sprinklr from $12.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Thursday, September 5th. Finally, Rosenblatt Securities decreased their price target on Sprinklr from $14.00 to $11.00 and set a "buy" rating for the company in a report on Tuesday, September 3rd. 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 company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $10.00.

Sprinklr Stock Up 0.8 %

The stock's fifty day simple moving average is $7.64 and its 200-day simple moving average is $9.32. The company has a market capitalization of $1.93 billion, a PE ratio of 42.22, a PEG ratio of 2.22 and a beta of 0.76.

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

Insider Buying and Selling at Sprinklr

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 transaction of $80,578.53. Following the completion of the transaction, the chief marketing officer now directly owns 448,947 shares of the company's stock, valued at $3,515,255.01. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CMO Arun Pattabhiraman sold 10,291 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $7.83, for a total transaction of $80,578.53. Following the sale, the chief marketing officer now owns 448,947 shares of the company's stock, valued at $3,515,255.01. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Diane Adams sold 4,282 shares of Sprinklr stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $7.83, for a total value of $33,528.06. Following the sale, the insider now owns 390,940 shares of the company's stock, valued at approximately $3,061,060.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 338,480 shares of company stock valued at $2,545,967 over the last quarter. Corporate insiders own 30.12% of the company's stock.

Institutional Trading of Sprinklr

Several hedge funds and other institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its holdings 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 worth $627,000 after acquiring an additional 1,117 shares during the period. CIBC Asset Management Inc boosted its holdings in shares of Sprinklr by 15.6% in the 2nd quarter. CIBC Asset Management Inc now owns 12,523 shares of the company's stock valued at $120,000 after purchasing an additional 1,694 shares during the last quarter. Louisiana State Employees Retirement System grew 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 buying an additional 1,700 shares during the period. CWM LLC increased its holdings in shares of Sprinklr by 111.0% during the 2nd quarter. CWM LLC now owns 3,620 shares of the company's stock worth $35,000 after buying an additional 1,904 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its position in shares of Sprinklr by 12.0% in the 2nd quarter. Commonwealth Equity Services LLC now owns 22,854 shares of the company's stock worth $220,000 after buying an additional 2,450 shares during the period. 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.