Sprinklr (NYSE:CXM) Price Target Cut to $14.00

Sprinklr (NYSE:CXM) had its price objective reduced by Rosenblatt Securities from $18.00 to $14.00 in a research note released on Thursday morning, Benzinga reports. Rosenblatt Securities currently has a buy rating on the stock.

Several other brokerages also recently weighed in on CXM. Oppenheimer restated 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 note on Monday, April 22nd. Wells Fargo & Company lifted their price target on Sprinklr from $12.00 to $14.00 and gave the stock an equal weight rating in a research report on Thursday, March 28th. DA Davidson cut Sprinklr from a buy rating to a neutral rating and lowered their price target for the stock from $16.00 to $9.00 in a research report on Thursday. Finally, Cantor Fitzgerald cut Sprinklr from an overweight rating to a neutral rating and lowered their price target for the stock from $16.00 to $10.00 in a research report on Thursday. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of Hold and an average price target of $12.90.

Sprinklr Price Performance

Shares of CXM 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 stock’s fifty day moving average price is $11.81 and its 200 day moving average price is $12.48. The company 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 announced its earnings results on Wednesday, March 27th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.04. Sprinklr had a return on equity of 9.26% and a net margin of 7.85%. The firm had revenue of $194.21 million for the quarter, compared to the consensus estimate of $188.50 million. As a group, equities research analysts anticipate that Sprinklr will post 0.19 earnings per share for the current year.

Insider Activity

In other news, CEO Ragy Thomas sold 11,742 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $13.03, for a total value of $152,998.26. Following the completion of the transaction, the chief executive officer now owns 438,214 shares of the company’s stock, valued at approximately $5,709,928.42. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CMO Arun Pattabhiraman sold 27,859 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $13.03, for a total value of $363,002.77. Following the completion of the transaction, the chief marketing officer now owns 382,101 shares of the company’s stock, valued at approximately $4,978,776.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ragy Thomas sold 11,742 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $13.03, for a total value of $152,998.26. Following the completion of the transaction, the chief executive officer now directly owns 438,214 shares of the company’s stock, valued at approximately $5,709,928.42. The disclosure for this sale can be found here. Insiders sold a total of 495,273 shares of company stock valued at $6,083,127 in the last quarter. 30.12% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sprinklr

A number of large investors have recently bought and sold shares of the business. Teachers Retirement System of The State of Kentucky acquired a new position in Sprinklr in the 1st quarter worth about $494,000. Washington Harbour Partners LP acquired a new position in Sprinklr in the 1st quarter worth about $1,227,000. Comerica Bank acquired a new position in Sprinklr in the 1st quarter worth about $597,000. California State Teachers Retirement System raised its holdings in Sprinklr by 4.3% in the 1st quarter. California State Teachers Retirement System now owns 119,751 shares of the company’s stock worth $1,469,000 after purchasing an additional 4,954 shares during the period. Finally, Bayesian Capital Management LP acquired a new position in Sprinklr in the 1st quarter worth about $1,012,000. Institutional investors and hedge funds own 40.19% of the company’s stock.

Sprinklr Company Profile

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.