Sprinklr (NYSE:CXM) Rating Lowered to "Underweight" at Wells Fargo & Company

Wells Fargo & Company cut shares of Sprinklr (NYSE:CXM - Free Report) from an equal weight rating to an underweight rating in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage currently has $6.00 price target on the stock, down from their prior price target of $8.00.

Several other equities research analysts have also recently commented on CXM. JMP Securities reiterated a "market outperform" rating and set a $17.00 price target on shares of Sprinklr in a research report on Thursday, September 5th. Citigroup dropped their price objective on shares of Sprinklr from $11.00 to $9.00 and set a "neutral" rating on the stock in a research note on Thursday, September 5th. KeyCorp cut their target price on Sprinklr from $16.00 to $12.00 and set an "overweight" rating on the stock in a research report on Thursday, September 5th. Morgan Stanley dropped their price objective on shares of Sprinklr from $12.00 to $10.00 and set an "equal weight" rating for the company in a report on Thursday, September 5th. Finally, Barclays downgraded shares of 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. Two 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. According to data from MarketBeat.com, Sprinklr has an average rating of "Hold" and a consensus price target of $9.80.

Sprinklr Stock Performance

CXM traded down $0.02 during midday trading on Tuesday, reaching $8.27. The company had a trading volume of 1,368,555 shares, compared to its average volume of 2,242,626. The business has a 50-day moving average price of $7.52 and a two-hundred day moving average price of $9.18. The stock has a market cap of $2.10 billion, a PE ratio of 45.56, a P/E/G ratio of 2.26 and a beta of 0.76. Sprinklr has a 12-month low of $6.91 and a 12-month high of $17.14.

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

Insider Buying and Selling at Sprinklr

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

Hedge Funds Weigh In On Sprinklr

Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC bought a new position in shares of Sprinklr in the 2nd quarter worth approximately $553,000. Teachers Retirement System of The State of Kentucky purchased a new position in shares of Sprinklr during the first quarter valued at $494,000. Vanguard Group Inc. increased its position in shares of Sprinklr by 30.6% during the 1st quarter. Vanguard Group Inc. now owns 15,248,951 shares of the company's stock worth $187,105,000 after purchasing an additional 3,575,001 shares during the last quarter. Bayesian Capital Management LP acquired a new stake in shares of Sprinklr during the 1st quarter worth about $1,012,000. Finally, Horrell Capital Management Inc. lifted its position in shares of Sprinklr by 31.7% in the third quarter. Horrell Capital Management Inc. now owns 685,000 shares of the company's stock valued at $5,295,000 after acquiring an additional 165,000 shares in the last quarter. Institutional investors 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.