Sprinklr (NYSE:CXM) Shares Gap Down – Here’s Why

by · The Markets Daily

Sprinklr, Inc. (NYSE:CXM – Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $8.29, but opened at $7.83. Sprinklr shares last traded at $8.15, with a volume of 350,087 shares.

Wall Street Analysts Forecast Growth

CXM has been the subject of a number of research analyst reports. Wells Fargo & Company cut Sprinklr from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $8.00 to $6.00 in a research report on Tuesday. Cantor Fitzgerald decreased their price objective on Sprinklr from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Morgan Stanley cut their target price on shares of Sprinklr from $12.00 to $10.00 and set an “equal weight” rating on the stock in a report on Thursday, September 5th. JMP Securities reiterated a “market outperform” rating and set a $17.00 price target on shares of Sprinklr in a research note on Thursday, September 5th. Finally, DA Davidson lowered their price objective on shares of Sprinklr from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $9.80.

Read Our Latest Stock Analysis on CXM

Sprinklr Trading Down 1.7 %

The company has a market cap of $2.05 billion, a price-to-earnings ratio of 44.84, a PEG ratio of 2.45 and a beta of 0.76. The company’s 50 day moving average price is $7.50 and its 200 day moving average price is $9.14.

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

Insider Buying and Selling at Sprinklr

In related news, insider Diane Adams sold 12,915 shares of Sprinklr stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $7.83, for a total transaction of $101,124.45. Following the completion of the transaction, the insider now directly owns 376,942 shares of the company’s stock, valued at approximately $2,951,455.86. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related 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 transaction of $101,124.45. Following the sale, the insider now owns 376,942 shares of the company’s stock, valued at $2,951,455.86. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $351,441.72. Following 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 338,480 shares of company stock valued at $2,545,967. 30.12% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sprinklr

A number of hedge funds and other institutional investors have recently made changes to their positions in CXM. MetLife Investment Management LLC boosted its stake in Sprinklr by 20.2% in the 3rd quarter. MetLife Investment Management LLC now owns 72,948 shares of the company’s stock worth $564,000 after buying an additional 12,237 shares during the last quarter. FMR LLC lifted its holdings in shares of Sprinklr by 152.8% during the 3rd quarter. FMR LLC now owns 91,029 shares of the company’s stock worth $704,000 after acquiring an additional 55,022 shares during the period. Quantbot Technologies LP boosted its position in shares of Sprinklr by 63.6% in the third quarter. Quantbot Technologies LP now owns 132,285 shares of the company’s stock worth $1,023,000 after acquiring an additional 51,440 shares during the last quarter. Cerity Partners LLC grew its holdings in Sprinklr by 33.0% in the third quarter. Cerity Partners LLC now owns 991,475 shares of the company’s stock valued at $7,664,000 after purchasing an additional 246,095 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Sprinklr by 10.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,037,271 shares of the company’s stock worth $8,018,000 after purchasing an additional 97,066 shares during the last quarter. Hedge funds and other institutional investors own 40.19% of the company’s stock.

About Sprinklr

(Get Free Report)

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.

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