Sprinklr (NYSE:CXM) Sees Large Volume Increase - Still a Buy?

Sprinklr, Inc. (NYSE:CXM - Get Free Report) saw strong trading volume on Friday . 3,697,772 shares changed hands during trading, an increase of 87% from the previous session's volume of 1,979,624 shares.The stock last traded at $8.26 and had previously closed at $8.40.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CXM. Cantor Fitzgerald initiated coverage on Sprinklr in a research note on Tuesday, June 3rd. They set a "neutral" rating and a $8.00 price objective on the stock. Scotiabank raised their price target on Sprinklr from $8.50 to $9.00 and gave the stock a "sector perform" rating in a research report on Thursday, March 13th. DA Davidson boosted their price objective on Sprinklr from $8.00 to $9.00 and gave the company a "neutral" rating in a research report on Thursday, June 5th. JMP Securities reissued a "market outperform" rating and set a $17.00 price objective on shares of Sprinklr in a research note on Friday. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $12.00 target price on shares of Sprinklr in a research note on Thursday, June 5th. Two 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 data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $10.25.

Sprinklr Stock Performance

The stock has a market cap of $2.19 billion, a P/E ratio of 20.63, a price-to-earnings-growth ratio of 1.81 and a beta of 0.81. The firm has a 50-day moving average price of $8.12 and a 200-day moving average price of $8.41.

Sprinklr (NYSE:CXM - Get Free Report) last issued its quarterly earnings results on Wednesday, June 4th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.02. The company had revenue of $205.50 million for 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 revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.09 earnings per share. On average, research analysts predict that Sprinklr, Inc. will post 0.1 earnings per share for the current year.

Insider Buying and Selling at Sprinklr

In other news, CTO Amitabh Misra sold 35,710 shares of Sprinklr stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $8.17, for a total transaction of $291,750.70. Following the completion of the transaction, the chief technology officer directly owned 602,970 shares in the company, valued at approximately $4,926,264.90. This trade represents a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ragy Thomas sold 3,000,000 shares of the company's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $7.98, for a total value of $23,940,000.00. Following the completion of the sale, the director owned 766,217 shares in the company, valued at $6,114,411.66. The trade was a 79.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,291,523 shares of company stock valued at $58,827,576 over the last three months. 60.53% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sprinklr

A number of institutional investors have recently modified their holdings of CXM. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Sprinklr by 4.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 260,769 shares of the company's stock worth $2,177,000 after purchasing an additional 10,136 shares during the last quarter. S Squared Technology LLC increased its stake in Sprinklr by 78.0% during the 1st quarter. S Squared Technology LLC now owns 445,039 shares of the company's stock valued at $3,716,000 after purchasing an additional 195,039 shares in the last quarter. Caxton Associates LLP bought a new stake in Sprinklr during the 1st quarter valued at about $287,000. PharVision Advisers LLC purchased a new position in Sprinklr in the first quarter worth about $190,000. Finally, Millennium Management LLC lifted its stake in shares of Sprinklr by 4.6% in the first quarter. Millennium Management LLC now owns 581,361 shares of the company's stock worth $4,854,000 after buying an additional 25,609 shares in the last quarter. 40.19% of the stock is owned by hedge funds and other institutional investors.

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.