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

Sprinklr (NYSE:CXM) had its target price decreased by analysts at DA Davidson from $11.00 to $8.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. DA Davidson’s price objective suggests a potential upside of 11.89% from the stock’s current price.

CXM has been the topic of a number of other research reports. William Blair downgraded Sprinklr from an “outperform” rating to a “market perform” rating in a research report on Friday, February 7th. Scotiabank raised their price target on Sprinklr from $8.50 to $9.00 and gave the company a “sector perform” rating in a report on Thursday, March 13th. JMP Securities reissued a “market outperform” rating and set a $17.00 price objective on shares of Sprinklr in a report on Friday, February 7th. Morgan Stanley increased their price target on shares of Sprinklr from $10.00 to $11.00 and gave the stock an “equal weight” rating in a report on Thursday, March 13th. Finally, Rosenblatt Securities raised their price objective on Sprinklr from $10.50 to $12.00 and gave the company a “buy” rating in a report on Thursday, March 13th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $10.25.

Sprinklr Stock Down 1.5 %

NYSE:CXM traded down $0.11 during mid-day trading on Monday, hitting $7.15. 748,462 shares of the stock traded hands, compared to its average volume of 2,033,785. The business’s 50-day moving average price is $8.53 and its 200 day moving average price is $8.31. The company has a market cap of $1.83 billion, a PE ratio of 44.69, a price-to-earnings-growth ratio of 2.31 and a beta of 0.77. Sprinklr has a 12-month low of $6.75 and a 12-month high of $12.86.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Sprinklr

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CXM. Jefferies Financial Group Inc. boosted its position in Sprinklr by 96.4% in the fourth quarter. Jefferies Financial Group Inc. now owns 5,807,400 shares of the company’s stock worth $49,073,000 after purchasing an additional 2,851,106 shares during the last quarter. State Street Corp grew its holdings in Sprinklr by 7.2% during the 3rd quarter. State Street Corp now owns 4,826,736 shares of the company’s stock valued at $37,311,000 after buying an additional 322,318 shares in the last quarter. Deutsche Bank AG lifted its stake in Sprinklr by 2.7% in the 4th quarter. Deutsche Bank AG now owns 2,792,583 shares of the company’s stock worth $23,597,000 after purchasing an additional 73,405 shares in the last quarter. Geode Capital Management LLC boosted its stake in Sprinklr by 11.9% during the third quarter. Geode Capital Management LLC now owns 2,788,550 shares of the company’s stock valued at $21,560,000 after buying an additional 295,638 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Sprinklr in the fourth quarter valued at $16,477,000. 40.19% of the stock is 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.