Wells Fargo & Company Downgrades Sprinklr (NYSE:CXM) to Underweight

Wells Fargo & Company lowered shares of Sprinklr (NYSE:CXM) from an equal weight rating to an underweight rating in a report published on Tuesday morning, MarketBeat Ratings reports. They currently have $6.00 target price on the stock, down from their prior target price of $8.00.

A number of other analysts also recently commented on CXM. Citigroup decreased their target price on Sprinklr from $11.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Rosenblatt Securities decreased their target price on Sprinklr from $14.00 to $11.00 and set a “buy” rating on the stock in a research report on Tuesday, September 3rd. KeyCorp decreased 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 reduced their price objective on Sprinklr from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 5th. Finally, JMP Securities restated a “market outperform” rating and issued a $17.00 price objective on shares of Sprinklr in a research report on Thursday, September 5th. Two investment 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 MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $9.80.

Sprinklr Price Performance

Sprinklr stock opened at $7.68 on Tuesday. The stock’s 50 day moving average price is $7.50 and its 200 day moving average price is $9.10. The company has a market cap of $1.95 billion, a PE ratio of 42.64, a price-to-earnings-growth ratio of 2.41 and a beta of 0.76. Sprinklr has a 1-year low of $6.91 and a 1-year high of $17.14.

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

Insider Buying and Selling

In other Sprinklr news, major shareholder Roger H. Lee sold 44,884 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $7.83, for a total transaction of $351,441.72. Following the completion of the sale, the insider now directly owns 739,799 shares in the company, valued at $5,792,626.17. This represents a 5.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Ragy Thomas sold 12,902 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $7.83, for a total value of $101,022.66. Following the sale, the chief executive officer now owns 1,051,182 shares of the company’s stock, valued at $8,230,755.06. This represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 338,480 shares of company stock worth $2,545,967. 30.12% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sprinklr

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in shares of Sprinklr in the second quarter valued at about $553,000. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Sprinklr in the first quarter valued at about $494,000. Vanguard Group Inc. grew 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 valued at $187,105,000 after buying an additional 3,575,001 shares in the last quarter. Bayesian Capital Management LP acquired a new stake in shares of Sprinklr in the first quarter valued at about $1,012,000. Finally, Horrell Capital Management Inc. grew its stake 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 buying an additional 165,000 shares in the last quarter. 40.19% of the stock is currently 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.