Sprinklr (NYSE:CXM) Sees Large Volume Increase Following Analyst Upgrade

Sprinklr, Inc. (NYSE:CXM) saw unusually-strong trading volume on Thursday after Barclays raised their price target on the stock from $7.00 to $9.00. Barclays currently has an underweight rating on the stock. Approximately 1,810,677 shares were traded during mid-day trading, a decline of 22% from the previous session’s volume of 2,311,000 shares.The stock last traded at $8.53 and had previously closed at $8.64.

Other equities analysts also recently issued research reports about the company. Rosenblatt Securities restated a “buy” rating and issued a $10.50 target price on shares of Sprinklr in a research note on Thursday. Citigroup cut their price objective on Sprinklr from $11.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $9.00 target price on shares of Sprinklr in a research report on Thursday. DA Davidson cut their price target on shares of Sprinklr from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Finally, KeyCorp decreased their price objective on shares of Sprinklr from $16.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $9.75.

Insider Buying and Selling

In other Sprinklr news, insider Diane Adams sold 4,282 shares of the company’s 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 transaction, the insider now directly owns 390,940 shares in the company, valued at $3,061,060.20. This represents a 1.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ragy Thomas sold 12,902 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $7.83, for a total transaction of $101,022.66. Following the completion of the transaction, the chief executive officer now owns 1,051,182 shares in the company, valued at approximately $8,230,755.06. This trade represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 338,480 shares of company stock valued at $2,545,967. Corporate insiders own 30.12% of the company’s stock.

Institutional Investors Weigh In On Sprinklr

Several hedge funds have recently added to or reduced their stakes in the company. Federated Hermes Inc. raised its holdings in shares of Sprinklr by 107,818.1% during the 2nd quarter. Federated Hermes Inc. now owns 1,696,472 shares of the company’s stock valued at $16,320,000 after buying an additional 1,694,900 shares in the last quarter. Solel Partners LP grew its position in Sprinklr by 46.8% during the second quarter. Solel Partners LP now owns 3,692,963 shares of the company’s stock valued at $35,526,000 after acquiring an additional 1,176,726 shares during the last quarter. Letko Brosseau & Associates Inc. raised its stake in shares of Sprinklr by 63.5% during the second quarter. Letko Brosseau & Associates Inc. now owns 2,130,350 shares of the company’s stock worth $20,494,000 after acquiring an additional 827,375 shares in the last quarter. State Street Corp lifted its holdings in shares of Sprinklr by 7.2% in the 3rd quarter. State Street Corp now owns 4,826,736 shares of the company’s stock worth $37,311,000 after acquiring an additional 322,318 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Sprinklr by 11.9% in 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 in the last quarter. Institutional investors own 40.19% of the company’s stock.

Sprinklr Trading Down 0.1 %

The company has a market cap of $2.19 billion, a P/E ratio of 47.11, a price-to-earnings-growth ratio of 2.46 and a beta of 0.81. The company’s fifty day moving average is $7.60 and its 200 day moving average is $8.71.

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

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.