Sprinklr (NYSE:CXM) Shares Gap Up – Here’s What Happened

Sprinklr, Inc. (NYSE:CXM)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $8.08, but opened at $8.93. Sprinklr shares last traded at $9.42, with a volume of 610,800 shares trading hands.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Cantor Fitzgerald reiterated a “neutral” rating and issued a $9.00 price target on shares of Sprinklr in a report on Thursday, December 5th. DA Davidson upped their price objective on shares of Sprinklr from $8.00 to $9.50 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Scotiabank lifted their price objective on shares of Sprinklr from $7.70 to $8.50 and gave the company a “sector perform” rating in a report on Thursday, December 5th. Stifel Nicolaus boosted their price objective on Sprinklr from $9.00 to $10.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $10.50 target price on shares of Sprinklr in a research report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Sprinklr currently has an average rating of “Hold” and a consensus target price of $10.13.

Sprinklr Stock Up 18.3 %

The firm has a market capitalization of $2.43 billion, a PE ratio of 59.69, a P/E/G ratio of 2.31 and a beta of 0.80. The stock has a 50-day simple moving average of $8.72 and a 200-day simple moving average of $8.27.

Sprinklr (NYSE:CXM) last announced its quarterly earnings data on Wednesday, March 12th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03). Sprinklr had a return on equity of 7.84% and a net margin of 5.59%. Equities analysts forecast that Sprinklr, Inc. will post 0.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sprinklr

Several institutional investors have recently made changes to their positions in CXM. CWA Asset Management Group LLC bought a new stake in shares of Sprinklr during the 3rd quarter valued at $194,000. Entropy Technologies LP increased its position in shares of Sprinklr by 18.2% during the third quarter. Entropy Technologies LP now owns 46,088 shares of the company’s stock valued at $356,000 after buying an additional 7,095 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of Sprinklr in the third quarter worth about $129,000. Victory Capital Management Inc. boosted its position in shares of Sprinklr by 17.0% in the third quarter. Victory Capital Management Inc. now owns 61,518 shares of the company’s stock valued at $476,000 after acquiring an additional 8,928 shares during the period. Finally, Quest Partners LLC grew its stake in Sprinklr by 103.5% during the third quarter. Quest Partners LLC now owns 44,441 shares of the company’s stock valued at $344,000 after acquiring an additional 22,601 shares in the last quarter. Hedge funds and other institutional investors own 40.19% of the company’s stock.

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.