Wells Fargo & Company Forecasts Strong Price Appreciation for Sprinklr (NYSE:CXM) Stock

Sprinklr (NYSE:CXM - Free Report) had its price objective upped by Wells Fargo & Company from $6.00 to $7.00 in a report published on Thursday morning,Benzinga reports. They currently have an underweight rating on the stock.

A number of other research analysts have also recently weighed in on CXM. Rosenblatt Securities restated a "buy" rating and issued a $12.00 price objective on shares of Sprinklr in a report on Thursday. Morgan Stanley decreased their price target on shares of Sprinklr from $11.00 to $8.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Cantor Fitzgerald began coverage on Sprinklr in a research report on Tuesday. They set a "neutral" rating and a $8.00 price objective on the stock. JMP Securities reiterated a "market outperform" rating and issued a $17.00 price objective on shares of Sprinklr in a research note on Friday, February 7th. Finally, DA Davidson lowered their target price on Sprinklr from $11.00 to $8.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $10.25.

Sprinklr Trading Down 2.5%

Sprinklr stock traded down $0.23 during trading on Thursday, hitting $8.84. The company had a trading volume of 2,058,618 shares, compared to its average volume of 2,012,014. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of 55.22, a price-to-earnings-growth ratio of 2.31 and a beta of 0.81. Sprinklr has a 1-year low of $6.75 and a 1-year high of $10.27. The company's 50 day simple moving average is $7.86 and its 200-day simple moving average is $8.43.

Sprinklr (NYSE:CXM - Get Free Report) last posted its earnings results on Wednesday, June 4th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.02. Sprinklr had a return on equity of 7.84% and a net margin of 5.59%. The firm had revenue of $205.50 million for the quarter, compared to analyst estimates of $201.83 million. During the same quarter in the prior year, the company earned $0.09 EPS. Sprinklr's revenue was up 4.9% on a year-over-year basis. As a group, analysts forecast that Sprinklr will post 0.1 earnings per share for the current fiscal year.

Insider Transactions at Sprinklr

In other news, Director Neeraj Agrawal sold 26,053 shares of the firm's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $9.28, for a total transaction of $241,771.84. Following the sale, the director now owns 968,306 shares of the company's stock, valued at approximately $8,985,879.68. This trade represents a 2.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 60.53% of the company's stock.

Hedge Funds Weigh In On Sprinklr

Hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. boosted its holdings in shares of Sprinklr by 100.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,856 shares of the company's stock valued at $33,000 after buying an additional 1,928 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Sprinklr by 2.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 118,364 shares of the company's stock valued at $988,000 after acquiring an additional 2,478 shares during the last quarter. GAMMA Investing LLC lifted its position in Sprinklr by 209.5% in the first quarter. GAMMA Investing LLC now owns 3,677 shares of the company's stock valued at $31,000 after acquiring an additional 2,489 shares during the last quarter. EPIQ Capital Group LLC boosted its stake in Sprinklr by 26.2% in the fourth quarter. EPIQ Capital Group LLC now owns 12,841 shares of the company's stock valued at $109,000 after acquiring an additional 2,664 shares in the last quarter. Finally, NewEdge Advisors LLC grew its holdings in shares of Sprinklr by 10.6% during the fourth quarter. NewEdge Advisors LLC now owns 28,212 shares of the company's stock worth $238,000 after purchasing an additional 2,700 shares during the last quarter. 40.19% of the stock is currently owned by hedge funds and other institutional investors.

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.