Sprinklr (NYSE:CXM) Stock Price Down 2.5% – Here’s Why

08 Nov 2024, 15:42 by Teresa Graham · The Cerbat Gem

Sprinklr, Inc. (NYSE:CXM – Get Free Report)’s share price traded down 2.5% during mid-day trading on Friday . The stock traded as low as $7.47 and last traded at $7.53. 149,269 shares traded hands during trading, a decline of 93% from the average session volume of 2,230,458 shares. The stock had previously closed at $7.72.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CXM shares. Wells Fargo & Company cut their target price on shares of Sprinklr from $9.00 to $8.00 and set an “equal weight” rating for the company in a report on Thursday, September 5th. DA Davidson cut their target price on shares of Sprinklr from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Cantor Fitzgerald cut their target price on shares of Sprinklr from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Rosenblatt Securities cut their target price on shares of Sprinklr from $14.00 to $11.00 and set a “buy” rating for the company in a report on Tuesday, September 3rd. Finally, Citigroup cut their target price on shares of Sprinklr from $11.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $10.00.

Get Our Latest Report on Sprinklr

Sprinklr Stock Down 1.8 %

The firm’s 50 day simple moving average is $7.56 and its 200 day simple moving average is $9.27. The company has a market capitalization of $1.92 billion, a PE ratio of 41.84, a price-to-earnings-growth ratio of 2.27 and a beta of 0.76.

Sprinklr (NYSE:CXM – Get Free Report) last issued its 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 firm had revenue of $197.21 million during the quarter, compared to analyst estimates of $194.58 million. Sprinklr had a net margin of 6.54% and a return on equity of 8.40%. As a group, sell-side analysts predict that Sprinklr, Inc. will post 0.11 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Roger H. Lee sold 44,884 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $7.83, for a total transaction of $351,441.72. Following the completion of the sale, the insider now directly owns 739,799 shares of the company’s stock, valued at approximately $5,792,626.17. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder Roger H. Lee sold 44,884 shares of Sprinklr stock in a transaction dated 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 directly owns 739,799 shares in the company, valued at $5,792,626.17. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Roger H. Lee sold 225,000 shares of Sprinklr stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $7.37, for a total value of $1,658,250.00. Following the completion of the sale, the insider now owns 514,799 shares of the company’s stock, valued at $3,794,068.63. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 338,480 shares of company stock valued at $2,545,967. 30.12% of the stock is currently owned by company insiders.

Institutional Trading of Sprinklr

Institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in shares of Sprinklr in the second quarter valued at about $553,000. Teachers Retirement System of The State of Kentucky bought a new position in Sprinklr in the first quarter worth about $494,000. Vanguard Group Inc. raised its holdings in Sprinklr by 30.6% in the first quarter. Vanguard Group Inc. now owns 15,248,951 shares of the company’s stock worth $187,105,000 after purchasing an additional 3,575,001 shares in the last quarter. Bayesian Capital Management LP bought a new position in Sprinklr in the first quarter worth about $1,012,000. Finally, Swiss National Bank raised its holdings in Sprinklr by 11.1% in the first quarter. Swiss National Bank now owns 239,500 shares of the company’s stock worth $2,939,000 after purchasing an additional 23,900 shares in the last quarter. 40.19% of the stock is currently owned by institutional investors.

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