Sprinklr (NYSE:CXM) Price Target Cut to $8.00 by Analysts at DA Davidson

Sprinklr (NYSE:CXM) had its target price dropped by stock analysts at DA Davidson from $11.00 to $8.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. DA Davidson’s target price would indicate a potential upside of 11.89% from the stock’s current price.

Several other research firms have also weighed in on CXM. Morgan Stanley lifted their price objective on Sprinklr from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 13th. Rosenblatt Securities increased their price target on Sprinklr from $10.50 to $12.00 and gave the stock a “buy” rating in a report on Thursday, March 13th. Scotiabank lifted their price objective on shares of Sprinklr from $8.50 to $9.00 and gave the company a “sector perform” rating in a research note on Thursday, March 13th. JMP Securities reissued a “market outperform” rating and set a $17.00 price objective on shares of Sprinklr in a research report on Friday, February 7th. Finally, William Blair lowered Sprinklr from an “outperform” rating to a “market perform” rating in a research report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $10.25.

Sprinklr Stock Performance

Shares of NYSE:CXM traded down $0.11 during trading on Monday, reaching $7.15. The stock had a trading volume of 748,462 shares, compared to its average volume of 2,033,785. Sprinklr has a 52 week low of $6.75 and a 52 week high of $12.86. The firm’s fifty day moving average is $8.53 and its 200 day moving average is $8.31. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 44.69, a P/E/G ratio of 2.31 and a beta of 0.77.

Insider Buying and Selling at Sprinklr

In related news, Director Neeraj Agrawal sold 26,053 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $9.28, for a total transaction of $241,771.84. Following the completion of the sale, the director now directly owns 968,306 shares of the company’s stock, valued at approximately $8,985,879.68. This trade represents a 2.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 30.12% of the company’s stock.

Institutional Investors Weigh In On Sprinklr

A number of hedge funds have recently made changes to their positions in CXM. FMR LLC raised its position in Sprinklr by 152.8% in the third 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. State Street Corp raised 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 purchasing an additional 322,318 shares during the period. Barclays PLC lifted its stake in Sprinklr by 283.7% in the third quarter. Barclays PLC now owns 242,990 shares of the company’s stock valued at $1,878,000 after purchasing an additional 179,661 shares during the last quarter. Geode Capital Management LLC increased its position in Sprinklr by 11.9% in the third quarter. Geode Capital Management LLC now owns 2,788,550 shares of the company’s stock worth $21,560,000 after buying an additional 295,638 shares during the last quarter. Finally, 272 Capital LP raised its stake in shares of Sprinklr by 26.5% in the third quarter. 272 Capital LP now owns 309,248 shares of the company’s stock valued at $2,390,000 after buying an additional 64,748 shares during the period. 40.19% of the stock is currently owned by institutional investors.

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.