Sprinklr (NYSE:CXM) Rating Lowered to Hold at 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 cut shares of Sprinklr (NYSE:CXM - Free Report) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

A number of other equities analysts have also recently weighed in on CXM. Cantor Fitzgerald began coverage on Sprinklr in a report on Tuesday, June 3rd. They set a "neutral" rating and a $8.00 price target for the company. JMP Securities reiterated a "market outperform" rating and set a $17.00 price target on shares of Sprinklr in a report on Friday, June 27th. Morgan Stanley increased their price target on Sprinklr from $8.00 to $10.00 and gave the stock an "equal weight" rating in a report on Thursday, June 5th. DA Davidson increased their price target on Sprinklr from $8.00 to $9.00 and gave the stock a "neutral" rating in a report on Thursday, June 5th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $12.00 price target on shares of Sprinklr in a report on Thursday, June 5th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $10.25.

Sprinklr Stock Performance

Shares of CXM traded down $0.22 during trading hours on Friday, hitting $7.90. 1,638,815 shares of the stock were exchanged, compared to its average volume of 1,951,895. Sprinklr has a 12-month low of $6.75 and a 12-month high of $9.69. The company has a market cap of $2.04 billion, a price-to-earnings ratio of 19.27, a price-to-earnings-growth ratio of 1.79 and a beta of 0.81. The stock's 50-day moving average price is $8.67 and its two-hundred day moving average price is $8.44.

Sprinklr (NYSE:CXM - Get Free Report) last issued its 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. The company had revenue of $205.50 million during the quarter, compared to analysts' expectations of $201.83 million. Sprinklr had a return on equity of 6.86% and a net margin of 13.57%. The firm's quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.09 EPS. On average, research analysts expect that Sprinklr will post 0.1 earnings per share for the current year.

Insider Buying and Selling at Sprinklr

In other news, insider Scott Michael Harvey sold 21,422 shares of the firm's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $9.00, for a total transaction of $192,798.00. Following the sale, the insider owned 681,910 shares of the company's stock, valued at approximately $6,137,190. This trade represents a 3.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Arun Pattabhiraman sold 16,222 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $8.17, for a total value of $132,533.74. Following the sale, the chief marketing officer directly owned 551,206 shares in the company, valued at $4,503,353.02. This trade represents a 2.86% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,512,691 shares of company stock worth $85,942,764. 60.53% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CXM. Trexquant Investment LP purchased a new position in Sprinklr during the 4th quarter worth approximately $566,000. Wells Fargo & Company MN increased its holdings in shares of Sprinklr by 28.0% in the fourth quarter. Wells Fargo & Company MN now owns 59,965 shares of the company's stock valued at $507,000 after purchasing an additional 13,110 shares during the period. Townsquare Capital LLC acquired a new position in shares of Sprinklr in the fourth quarter valued at approximately $115,000. Mariner LLC increased its holdings in shares of Sprinklr by 51.8% in the fourth quarter. Mariner LLC now owns 23,730 shares of the company's stock valued at $201,000 after purchasing an additional 8,102 shares during the period. Finally, NewEdge Advisors LLC increased its holdings in shares of Sprinklr by 10.6% in the fourth quarter. NewEdge Advisors LLC now owns 28,212 shares of the company's stock valued at $238,000 after purchasing an additional 2,700 shares during the period. Hedge funds and other institutional investors own 40.19% of the company's stock.

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.