Sprinklr (NYSE:CXM) Rating Lowered to Underweight at Wells Fargo & Company

Wells Fargo & Company lowered shares of Sprinklr (NYSE:CXM) from an equal weight rating to an underweight rating in a research report sent to investors on Tuesday, MarketBeat Ratings reports. Wells Fargo & Company currently has $6.00 price target on the stock, down from their prior price target of $8.00.

CXM has been the topic of a number of other research reports. DA Davidson reduced their price target on Sprinklr from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. KeyCorp cut their target price on Sprinklr from $16.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, September 5th. Morgan Stanley cut their target price on Sprinklr from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 5th. Cantor Fitzgerald cut their target price on Sprinklr from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Finally, Citigroup cut their target price on Sprinklr from $11.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $9.80.

Sprinklr Price Performance

Shares of Sprinklr stock opened at $7.68 on Tuesday. The business has a 50-day moving average of $7.50 and a 200 day moving average of $9.10. Sprinklr has a 12 month low of $6.91 and a 12 month high of $17.14. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 42.64, a price-to-earnings-growth ratio of 2.41 and a beta of 0.76.

Sprinklr (NYSE:CXM) last posted its quarterly earnings results on Wednesday, September 4th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. The company had revenue of $197.21 million for the quarter, compared to analyst estimates of $194.58 million. Sprinklr had a return on equity of 8.40% and a net margin of 6.54%. Equities research analysts anticipate that Sprinklr will post 0.11 earnings per share for the current year.

Insider Buying and Selling

In other Sprinklr news, CEO Ragy Thomas sold 12,902 shares of Sprinklr stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $7.83, for a total value of $101,022.66. Following the transaction, the chief executive officer now directly owns 1,051,182 shares in the company, valued at approximately $8,230,755.06. This trade represents a 1.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Diane Adams sold 12,915 shares of Sprinklr stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $7.83, for a total value of $101,124.45. Following the completion of the transaction, the insider now owns 376,942 shares in the company, valued at $2,951,455.86. This trade represents a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 338,480 shares of company stock worth $2,545,967 in the last quarter. 30.12% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CXM. Texas Permanent School Fund Corp purchased a new position in shares of Sprinklr in the 1st quarter valued at approximately $1,270,000. Swiss National Bank boosted its stake in shares of Sprinklr by 11.1% in the first quarter. Swiss National Bank now owns 239,500 shares of the company’s stock valued at $2,939,000 after buying an additional 23,900 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Sprinklr in the first quarter valued at approximately $166,000. ProShare Advisors LLC boosted its stake in shares of Sprinklr by 23.3% in the first quarter. ProShare Advisors LLC now owns 21,571 shares of the company’s stock valued at $265,000 after buying an additional 4,080 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Sprinklr by 30.6% in the first quarter. Vanguard Group Inc. now owns 15,248,951 shares of the company’s stock valued at $187,105,000 after buying an additional 3,575,001 shares in 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.