Sprinklr (NYSE:CXM) Given New $8.50 Price Target at Scotiabank

Sprinklr (NYSE:CXM) had its price target increased by equities researchers at Scotiabank from $7.70 to $8.50 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s price target indicates a potential downside of 3.35% from the stock’s current price.

CXM has been the topic of a number of other research reports. Stifel Nicolaus boosted their price objective on shares of Sprinklr from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Thursday. JMP Securities reiterated a “market outperform” rating and issued a $17.00 price objective on shares of Sprinklr in a report on Thursday, September 5th. Citigroup decreased their target price on Sprinklr from $11.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $10.50 price target on shares of Sprinklr in a research note on Thursday. Finally, Wells Fargo & Company cut shares of Sprinklr from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $8.00 to $6.00 in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $10.05.

Sprinklr Stock Performance

CXM stock opened at $8.80 on Thursday. The company has a market capitalization of $2.23 billion, a PE ratio of 54.19, a price-to-earnings-growth ratio of 2.46 and a beta of 0.81. Sprinklr has a one year low of $6.91 and a one year high of $14.31. The company’s 50 day moving average price is $7.64 and its two-hundred day moving average price is $8.71.

Sprinklr (NYSE:CXM) last released its quarterly earnings data on Wednesday, September 4th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The firm had revenue of $197.21 million for the quarter, compared to the consensus estimate of $194.58 million. Sprinklr had a return on equity of 8.40% and a net margin of 6.54%. On average, research analysts predict that Sprinklr will post 0.11 EPS for the current year.

Insider Activity

In other Sprinklr news, major shareholder Roger H. Lee sold 44,884 shares of Sprinklr stock in a transaction on Monday, September 9th. The stock was sold at an average price of $7.83, for a total value of $351,441.72. Following the completion of the sale, the insider now owns 739,799 shares of the company’s stock, valued at approximately $5,792,626.17. This trade represents a 5.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Diane Adams sold 4,282 shares of Sprinklr stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $7.83, for a total value of $33,528.06. Following the completion of the sale, the insider now owns 390,940 shares of the company’s stock, valued at $3,061,060.20. The trade was a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 338,480 shares of company stock worth $2,545,967 over the last three months. 30.12% of the stock is currently owned by corporate insiders.

Institutional Trading of Sprinklr

A number of large investors have recently made changes to their positions in the stock. 272 Capital LP grew its holdings in shares of Sprinklr by 26.5% in the third quarter. 272 Capital LP now owns 309,248 shares of the company’s stock worth $2,390,000 after acquiring an additional 64,748 shares during the period. Geode Capital Management LLC grew its stake in shares of Sprinklr by 11.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,788,550 shares of the company’s stock valued at $21,560,000 after purchasing an additional 295,638 shares during the period. Barclays PLC grew its stake in shares of Sprinklr by 283.7% during the 3rd quarter. Barclays PLC now owns 242,990 shares of the company’s stock valued at $1,878,000 after purchasing an additional 179,661 shares during the period. Weiss Asset Management LP bought a new stake in Sprinklr during the third quarter valued at approximately $806,000. Finally, State Street Corp grew its position in Sprinklr by 7.2% during the third quarter. State Street Corp now owns 4,826,736 shares of the company’s stock valued at $37,311,000 after buying an additional 322,318 shares during the period. 40.19% of the stock is currently owned by 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.