Sprinklr (NYSE:CXM) Stock Rating Lowered by Wall Street Zen

Key Points

• Sprinklr has been downgraded from a "buy" rating to a "hold" rating by Wall Street Zen, impacting investor sentiment.
• The company's current average rating is "Hold" with a consensus price target of $10.25, while various analysts have set differing price targets ranging from $7.00 to $17.00.
• In recent insider transactions, major shareholder Roger H. Lee sold 285,439 shares, reducing their ownership by approximately 55.45%, amid rising institutional interest.

Wall Street Zen lowered shares of Sprinklr (NYSE:CXM - Free Report) from a buy rating to a hold rating in a research note issued to investors on Saturday.

CXM has been the subject of a number of other research reports. JMP Securities reiterated a "market outperform" rating and set a $17.00 target price on shares of Sprinklr in a report on Friday, June 27th. DA Davidson increased their price target on shares of Sprinklr from $8.00 to $9.00 and gave the company a "neutral" rating in a report on Thursday, June 5th. Wells Fargo & Company lifted their price objective on shares of Sprinklr from $6.00 to $7.00 and gave the company an "underweight" rating in a research note on Thursday, June 5th. Rosenblatt Securities reaffirmed a "buy" rating and set a $12.00 target price on shares of Sprinklr in a research note on Thursday, June 5th. Finally, Cantor Fitzgerald initiated coverage on Sprinklr in a report on Tuesday, June 3rd. They issued a "neutral" rating and a $8.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Sprinklr currently has an average rating of "Hold" and a consensus price target of $10.25.

Sprinklr Stock Performance

Shares of CXM stock traded up $0.17 during trading hours on Friday, reaching $8.15. The company had a trading volume of 375,780 shares, compared to its average volume of 1,941,603. Sprinklr has a twelve month low of $6.75 and a twelve month high of $9.69. The company has a market capitalization of $2.11 billion, a P/E ratio of 19.87, a price-to-earnings-growth ratio of 1.74 and a beta of 0.81. The stock's fifty day simple moving average is $8.65 and its 200 day simple moving average is $8.43.

Sprinklr (NYSE:CXM - Get Free Report) last issued its quarterly earnings results on Wednesday, June 4th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.02. Sprinklr had a return on equity of 6.86% and a net margin of 13.57%. The company had revenue of $205.50 million for the quarter, compared to analysts' expectations of $201.83 million. During the same period last year, the firm earned $0.09 EPS. The firm's revenue for the quarter was up 4.9% on a year-over-year basis. As a group, equities analysts expect that Sprinklr will post 0.1 earnings per share for the current year.

Insider Activity at Sprinklr

In other news, Director Neeraj Agrawal sold 378,940 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $8.76, for a total value of $3,319,514.40. Following the completion of the transaction, the director owned 321,304 shares in the company, valued at $2,814,623.04. This trade represents a 54.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ragy Thomas sold 3,000,000 shares of the firm's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $7.94, for a total transaction of $23,820,000.00. Following the sale, the director directly owned 974,286 shares in the company, valued at $7,735,830.84. This represents a 75.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,512,691 shares of company stock worth $85,942,764 in the last 90 days. Corporate insiders own 60.53% of the company's stock.

Hedge Funds Weigh In On Sprinklr

A number of hedge funds have recently added to or reduced their stakes in CXM. Jefferies Financial Group Inc. grew its stake in Sprinklr by 96.4% during the 4th quarter. Jefferies Financial Group Inc. now owns 5,807,400 shares of the company's stock valued at $49,073,000 after acquiring an additional 2,851,106 shares in the last quarter. Norges Bank bought a new stake in shares of Sprinklr in the 2nd quarter valued at approximately $10,310,000. Vanguard Group Inc. lifted its holdings in Sprinklr by 8.5% in the 1st quarter. Vanguard Group Inc. now owns 14,498,855 shares of the company's stock worth $121,065,000 after purchasing an additional 1,138,542 shares during the last quarter. Pathway Capital Management LP acquired a new stake in Sprinklr in the 2nd quarter worth approximately $4,621,000. Finally, Nuveen LLC acquired a new position in shares of Sprinklr during the first quarter worth approximately $4,341,000. 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.