Sprinklr (NYSE:CXM) Releases Q2 2023 Earnings Guidance

Sprinklr (NYSE:CXMGet Rating) issued an update on its second quarter 2023 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of -$0.06–$0.05 for the period, compared to the consensus estimate of -$0.06. The company issued revenue guidance of $146.50 million-$148.50 million, compared to the consensus revenue estimate of $147.34 million. Sprinklr also updated its FY 2023 guidance to -$0.20–$0.18 EPS.

Shares of CXM opened at $10.27 on Tuesday. Sprinklr has a 1 year low of $9.41 and a 1 year high of $26.50. The company has a 50 day simple moving average of $12.30 and a two-hundred day simple moving average of $12.60. The firm has a market cap of $2.64 billion and a P/E ratio of -18.67.

Sprinklr (NYSE:CXMGet Rating) last posted its earnings results on Tuesday, June 14th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. Sprinklr had a negative net margin of 23.69% and a negative return on equity of 21.64%. The firm had revenue of $144.98 million during the quarter, compared to analyst estimates of $140.96 million. The firm’s revenue for the quarter was up 30.6% on a year-over-year basis. As a group, equities research analysts expect that Sprinklr will post -0.41 EPS for the current year.

CXM has been the subject of several recent research reports. JPMorgan Chase & Co. decreased their price objective on Sprinklr from $20.00 to $15.00 and set an overweight rating for the company in a report on Wednesday, June 15th. Barclays lifted their target price on Sprinklr from $14.00 to $15.00 and gave the company an overweight rating in a research note on Wednesday, June 15th. Citigroup cut their target price on Sprinklr from $15.00 to $12.00 and set a neutral rating on the stock in a research note on Thursday, June 16th. JMP Securities cut their target price on Sprinklr from $27.00 to $22.00 and set a market outperform rating on the stock in a research note on Thursday, April 7th. Finally, Wells Fargo & Company lifted their target price on Sprinklr from $11.00 to $12.00 and gave the company an equal weight rating in a research note on Thursday, April 7th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Buy and a consensus target price of $17.07.

In related news, major shareholder Corporate Investors Ix Lt H&F purchased 9,448,005 shares of the firm’s stock in a transaction on Monday, April 11th. The stock was bought at an average cost of $14.79 per share, with a total value of $139,735,993.95. Following the completion of the acquisition, the insider now owns 10,861,506 shares of the company’s stock, valued at approximately $160,641,673.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ragy Thomas sold 1,048,005 shares of the business’s stock in a transaction that occurred on Monday, April 11th. The shares were sold at an average price of $14.79, for a total value of $15,499,993.95. Following the completion of the transaction, the chief executive officer now directly owns 31,250 shares of the company’s stock, valued at $462,187.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,131,999 shares of company stock worth $16,612,488. 43.75% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in CXM. Morgan Stanley acquired a new position in shares of Sprinklr during the 2nd quarter worth approximately $566,000. Royal Bank of Canada acquired a new position in shares of Sprinklr during the 2nd quarter worth approximately $31,000. Wells Fargo & Company MN acquired a new position in shares of Sprinklr during the 2nd quarter worth approximately $670,000. Bank of America Corp DE acquired a new position in shares of Sprinklr during the 4th quarter worth approximately $147,000. Finally, Geode Capital Management LLC increased its position in shares of Sprinklr by 15.5% during the fourth quarter. Geode Capital Management LLC now owns 137,541 shares of the company’s stock worth $2,182,000 after purchasing an additional 18,456 shares in the last quarter. 30.22% of the stock is owned by institutional investors and hedge funds.

Sprinklr Company Profile (Get Rating)

Sprinklr, Inc provides enterprise cloud software products worldwide. The company offers Unified Customer Experience Management platform, a purpose-built to analyze unstructured customer experience data, built to scale across future and modern channels, and integrates all stages of the customer journey.

Further Reading

Earnings History and Estimates for Sprinklr (NYSE:CXM)

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