Morgan Stanley Cuts Sprinklr (NYSE:CXM) Price Target to $12.00

Sprinklr (NYSE:CXM) had its price objective cut by Morgan Stanley from $16.00 to $12.00 in a research report report published on Thursday morning, Benzinga reports. They currently have an equal weight rating on the stock.

CXM has been the subject of a number of other reports. Oppenheimer reaffirmed a market perform rating on shares of Sprinklr in a research note on Thursday, March 28th. William Blair restated an outperform rating on shares of Sprinklr in a research report on Monday, April 22nd. Cantor Fitzgerald lowered shares of Sprinklr from an overweight rating to a neutral rating and decreased their price objective for the stock from $16.00 to $10.00 in a research note on Thursday. Rosenblatt Securities cut their target price on shares of Sprinklr from $18.00 to $14.00 and set a buy rating on the stock in a research note on Thursday. Finally, DA Davidson cut Sprinklr from a buy rating to a neutral rating and decreased their target price for the stock from $16.00 to $9.00 in a research report on Thursday. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Sprinklr has a consensus rating of Hold and a consensus price target of $12.90.

Sprinklr Stock Performance

Sprinklr stock opened at $8.92 on Thursday. Sprinklr has a 1 year low of $8.33 and a 1 year high of $17.14. The firm’s 50 day moving average price is $11.81 and its two-hundred day moving average price is $12.48. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of 42.48, a price-to-earnings-growth ratio of 1.72 and a beta of 0.84.

Sprinklr (NYSE:CXM) last issued its earnings results on Wednesday, March 27th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.04. Sprinklr had a return on equity of 9.26% and a net margin of 7.85%. The business had revenue of $194.21 million for the quarter, compared to analysts’ expectations of $188.50 million. As a group, equities analysts predict that Sprinklr will post 0.19 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CMO Arun Pattabhiraman sold 52,401 shares of Sprinklr stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $11.66, for a total transaction of $610,995.66. Following the completion of the sale, the chief marketing officer now directly owns 491,862 shares in the company, valued at approximately $5,735,110.92. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Ragy Thomas sold 11,742 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $13.03, for a total value of $152,998.26. Following the completion of the sale, the chief executive officer now directly owns 438,214 shares in the company, valued at $5,709,928.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Arun Pattabhiraman sold 52,401 shares of the stock in a transaction on Friday, April 12th. The stock was sold at an average price of $11.66, for a total transaction of $610,995.66. Following the transaction, the chief marketing officer now directly owns 491,862 shares in the company, valued at $5,735,110.92. The disclosure for this sale can be found here. Insiders have sold a total of 495,273 shares of company stock valued at $6,083,127 in the last three months. Insiders own 30.12% of the company’s stock.

Institutional Trading of Sprinklr

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake 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 acquiring an additional 3,575,001 shares in the last quarter. Cadian Capital Management LP raised its position in shares of Sprinklr by 29.9% in the fourth quarter. Cadian Capital Management LP now owns 14,560,167 shares of the company’s stock valued at $175,304,000 after purchasing an additional 3,355,566 shares during the period. TFG Asset Management GP Ltd lifted its stake in shares of Sprinklr by 15.8% in the fourth quarter. TFG Asset Management GP Ltd now owns 2,200,000 shares of the company’s stock worth $26,488,000 after buying an additional 300,000 shares during the last quarter. Kettle Hill Capital Management LLC bought a new stake in shares of Sprinklr during the 4th quarter worth $12,889,000. Finally, Stanley Laman Group Ltd. grew its stake in Sprinklr by 1,185.6% in the 4th quarter. Stanley Laman Group Ltd. now owns 1,045,673 shares of the company’s stock valued at $12,590,000 after buying an additional 964,333 shares during 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.