Sprinklr (NYSE:CXM) Shares Gap Down Following Analyst Downgrade

Shares of Sprinklr, Inc. (NYSE:CXMGet Free Report) gapped down before the market opened on Thursday after Wells Fargo & Company lowered their price target on the stock from $14.00 to $10.00. The stock had previously closed at $10.84, but opened at $8.41. Wells Fargo & Company currently has an equal weight rating on the stock. Sprinklr shares last traded at $9.25, with a volume of 2,218,498 shares traded.

CXM has been the subject of several other reports. JMP Securities cut their price objective on Sprinklr from $22.00 to $17.00 and set a “market outperform” rating for the company in a research note on Thursday. William Blair reissued an “outperform” rating on shares of Sprinklr in a research note on Monday, April 22nd. Cantor Fitzgerald lowered Sprinklr from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $16.00 to $10.00 in a report on Thursday. KeyCorp began coverage on shares of Sprinklr in a report on Thursday, March 21st. They set an “overweight” rating and a $19.00 target price for the company. Finally, Rosenblatt Securities decreased their price target on shares of Sprinklr from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $12.90.

Get Our Latest Stock Report on CXM

Insider Activity

In other Sprinklr news, General Counsel Jacob Scott sold 16,602 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $13.03, for a total value of $216,324.06. Following the transaction, the general counsel now directly owns 197,994 shares in the company, valued at approximately $2,579,861.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Ragy Thomas sold 11,742 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $13.03, for a total value of $152,998.26. Following 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 filing with the SEC, which is accessible through the SEC website. Also, General Counsel Jacob Scott sold 16,602 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $13.03, for a total value of $216,324.06. Following the transaction, the general counsel now owns 197,994 shares of the company’s stock, valued at $2,579,861.82. The disclosure for this sale can be found here. In the last quarter, insiders have sold 495,273 shares of company stock valued at $6,083,127. 30.12% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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

Sprinklr Stock Performance

The company has a 50 day moving average of $11.88 and a 200-day moving average of $12.57. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of 52.17, a price-to-earnings-growth ratio of 2.06 and a beta of 0.84.

Sprinklr (NYSE:CXMGet Free Report) last issued its quarterly earnings results on Wednesday, March 27th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.04. The business had revenue of $194.21 million for the quarter, compared to analysts’ expectations of $188.50 million. Sprinklr had a net margin of 7.02% and a return on equity of 8.15%. On average, research analysts anticipate that Sprinklr, Inc. will post 0.17 EPS for the current year.

About Sprinklr

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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.

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