Scotiabank Forecasts Strong Price Appreciation for Sprinklr (NYSE:CXM) Stock

Sprinklr (NYSE:CXM) had its price objective upped by equities research analysts at Scotiabank from $7.70 to $8.50 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s target price points to a potential downside of 1.96% from the stock’s current price.

Several other research firms have also recently weighed in on CXM. Cantor Fitzgerald reiterated a “neutral” rating and issued a $9.00 target price on shares of Sprinklr in a research note on Thursday. Wells Fargo & Company downgraded shares of Sprinklr from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $8.00 to $6.00 in a research note on Tuesday, November 12th. Stifel Nicolaus raised their price objective on shares of Sprinklr from $9.00 to $10.00 and gave the stock a “hold” rating in a report on Thursday. Citigroup lowered their target price on shares of Sprinklr from $11.00 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Finally, KeyCorp cut their price target on shares of Sprinklr from $16.00 to $12.00 and set an “overweight” rating for the company in a research note 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 assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $10.05.

Sprinklr Stock Up 0.3 %

Shares of NYSE CXM opened at $8.67 on Thursday. Sprinklr has a 12 month low of $6.91 and a 12 month high of $17.14. The company has a market cap of $2.20 billion, a P/E ratio of 54.19, a P/E/G ratio of 2.46 and a beta of 0.81. The business’s 50 day moving average is $7.62 and its two-hundred day moving average is $8.71.

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

Insider Activity at Sprinklr

In other Sprinklr news, insider Diane Adams sold 12,915 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $7.83, for a total value of $101,124.45. Following the transaction, the insider now directly owns 376,942 shares in the company, valued at approximately $2,951,455.86. This trade represents a 3.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Roger H. Lee sold 225,000 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $7.37, for a total value of $1,658,250.00. Following the sale, the insider now owns 514,799 shares of the company’s stock, valued at approximately $3,794,068.63. The trade was a 30.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 338,480 shares of company stock valued at $2,545,967 over the last ninety days. 30.12% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. State Street Corp boosted its holdings in Sprinklr by 7.2% during the third quarter. State Street Corp now owns 4,826,736 shares of the company’s stock worth $37,311,000 after buying an additional 322,318 shares during the last quarter. Solel Partners LP raised its position in shares of Sprinklr by 46.8% in the 2nd 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 period. Geode Capital Management LLC boosted its stake in Sprinklr by 11.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,788,550 shares of the company’s stock worth $21,560,000 after acquiring an additional 295,638 shares during the last quarter. Letko Brosseau & Associates Inc. grew its holdings in Sprinklr by 63.5% during the second quarter. Letko Brosseau & Associates Inc. now owns 2,130,350 shares of the company’s stock valued at $20,494,000 after purchasing an additional 827,375 shares during the period. Finally, Federated Hermes Inc. increased its stake in Sprinklr by 107,818.1% in the second quarter. Federated Hermes Inc. now owns 1,696,472 shares of the company’s stock valued at $16,320,000 after purchasing an additional 1,694,900 shares in the last quarter. Institutional investors own 40.19% of the company’s stock.

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.