Sprinklr (NYSE:CXM) Shares Gap Down - Here's What Happened

Sprinklr, Inc. (NYSE:CXM - Get Free Report)'s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $8.29, but opened at $7.83. Sprinklr shares last traded at $8.15, with a volume of 350,087 shares.

Wall Street Analysts Forecast Growth

CXM has been the subject of several research reports. JMP Securities reiterated a "market outperform" rating and issued a $17.00 price target on shares of Sprinklr in a research report on Thursday, September 5th. Wells Fargo & Company downgraded shares of Sprinklr from an "equal weight" rating to an "underweight" rating and reduced their price target for the company from $8.00 to $6.00 in a research report on Tuesday. DA Davidson reduced their price target 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. KeyCorp reduced their price target on shares of Sprinklr from $16.00 to $12.00 and set an "overweight" rating for the company in a research report on Thursday, September 5th. Finally, Citigroup reduced their price target on shares of Sprinklr from $11.00 to $9.00 and set a "neutral" rating for the company in a research report on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $9.80.

Sprinklr Price Performance

The business has a fifty day moving average of $7.52 and a 200-day moving average of $9.18. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 45.56, a price-to-earnings-growth ratio of 2.26 and a beta of 0.76.

Sprinklr (NYSE:CXM - Get Free Report) last issued its quarterly earnings results on Wednesday, September 4th. The company reported $0.01 earnings per share for the quarter, hitting analysts' consensus estimates of $0.01. The firm had revenue of $197.21 million for 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%. As a group, research analysts anticipate that Sprinklr, Inc. will post 0.11 EPS for the current year.

Insider Activity

In other news, CMO Arun Pattabhiraman sold 10,291 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief marketing officer now directly owns 448,947 shares in the company, valued at $3,515,255.01. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Sprinklr news, insider Diane Adams sold 4,282 shares of the company's stock in a transaction 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 sale, the insider now directly owns 390,940 shares in the company, valued at $3,061,060.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CMO Arun Pattabhiraman sold 10,291 shares of the company's 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 sale, the chief marketing officer now owns 448,947 shares in the company, valued at $3,515,255.01. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 338,480 shares of company stock worth $2,545,967 in the last three months. 30.12% of the stock is owned by insiders.

Hedge Funds Weigh In On Sprinklr

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Sprinklr by 30.6% in the first quarter. Vanguard Group Inc. now owns 15,248,951 shares of the company's stock worth $187,105,000 after acquiring an additional 3,575,001 shares in the last quarter. Solel Partners LP increased its holdings in shares of Sprinklr by 46.8% in the second quarter. Solel Partners LP now owns 3,692,963 shares of the company's stock worth $35,526,000 after acquiring an additional 1,176,726 shares in the last quarter. Letko Brosseau & Associates Inc. increased its holdings in shares of Sprinklr by 63.5% in the second quarter. Letko Brosseau & Associates Inc. now owns 2,130,350 shares of the company's stock worth $20,494,000 after acquiring an additional 827,375 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of Sprinklr by 107,818.1% in the second quarter. Federated Hermes Inc. now owns 1,696,472 shares of the company's stock worth $16,320,000 after acquiring an additional 1,694,900 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Sprinklr by 10.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,037,271 shares of the company's stock worth $8,018,000 after buying an additional 97,066 shares in the last quarter. Institutional investors and hedge funds own 40.19% of the company's stock.

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.

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