Sprinklr (NYSE:CXM) Shares Up 2.2% - Time to Buy?

Sprinklr, Inc. (NYSE:CXM - Get Free Report)'s share price traded up 2.2% on Friday . The stock traded as high as $8.27 and last traded at $8.22. 154,811 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 2,265,101 shares. The stock had previously closed at $8.04.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Barclays cut shares of Sprinklr from an "overweight" rating to an "underweight" rating and dropped their price target for the company from $10.00 to $7.00 in a research note on Monday, October 7th. Scotiabank initiated coverage on shares of Sprinklr in a report on Tuesday. They set a "sector perform" rating and a $7.70 target price on the stock. Cantor Fitzgerald reduced their price objective on shares of Sprinklr from $10.00 to $9.00 and set a "neutral" rating on the stock in a report on Thursday, September 5th. Morgan Stanley reduced their price objective on shares of Sprinklr from $12.00 to $10.00 and set an "equal weight" rating on the stock in a report on Thursday, September 5th. Finally, Rosenblatt Securities reduced their price objective on shares of Sprinklr from $14.00 to $11.00 and set a "buy" rating on the stock in a report on Tuesday, September 3rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, Sprinklr presently has a consensus rating of "Hold" and an average target price of $9.61.

Sprinklr Stock Performance

The company has a market capitalization of $2.12 billion, a PE ratio of 45.67, a price-to-earnings-growth ratio of 2.32 and a beta of 0.76. The firm's 50-day simple moving average is $7.52 and its 200 day simple moving average is $8.99.

Sprinklr (NYSE:CXM - Get Free Report) last announced its quarterly earnings results on Wednesday, September 4th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. Sprinklr had a return on equity of 8.40% and a net margin of 6.54%. The business had revenue of $197.21 million for the quarter, compared to analyst estimates of $194.58 million. As a group, equities analysts anticipate that Sprinklr, Inc. will post 0.11 earnings per share for the current year.

Insider Buying and Selling at Sprinklr

In other Sprinklr news, CEO Ragy Thomas sold 12,902 shares of the 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 $101,022.66. Following the transaction, the chief executive officer now owns 1,051,182 shares of the company's stock, valued at $8,230,755.06. This trade represents a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Diane Adams sold 12,915 shares of the firm's stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $7.83, for a total value of $101,124.45. Following the completion of the transaction, the insider now owns 376,942 shares in the company, valued at approximately $2,951,455.86. This trade represents a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 338,480 shares of company stock valued at $2,545,967. Insiders own 30.12% of the company's stock.

Hedge Funds Weigh In On Sprinklr

Several hedge funds and other institutional investors have recently bought and sold shares of CXM. ProShare Advisors LLC increased its stake in shares of Sprinklr by 23.3% in the first quarter. ProShare Advisors LLC now owns 21,571 shares of the company's stock worth $265,000 after buying an additional 4,080 shares during the last quarter. Vanguard Group Inc. increased its stake 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 buying an additional 3,575,001 shares during the last quarter. American International Group Inc. increased its stake in shares of Sprinklr by 9.6% in the first quarter. American International Group Inc. now owns 57,558 shares of the company's stock worth $706,000 after buying an additional 5,036 shares during the last quarter. Bayesian Capital Management LP bought a new stake in shares of Sprinklr in the first quarter worth $1,012,000. Finally, California State Teachers Retirement System increased its stake in shares of Sprinklr by 4.3% in the first quarter. California State Teachers Retirement System now owns 119,751 shares of the company's stock worth $1,469,000 after buying an additional 4,954 shares during the last quarter. 40.19% of the stock is owned by institutional investors and hedge funds.

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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