Sprinklr (NYSE:CXM) Price Target Raised to $18.00 at Rosenblatt Securities

Sprinklr (NYSE:CXM) had its price objective raised by research analysts at Rosenblatt Securities from $16.00 to $18.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Rosenblatt Securities’ price objective suggests a potential upside of 38.46% from the stock’s previous close.

CXM has been the subject of a number of other research reports. Stifel Nicolaus cut their price target on shares of Sprinklr from $16.00 to $15.00 and set a “hold” rating for the company in a report on Thursday, December 7th. TheStreet downgraded shares of Sprinklr from a “c-” rating to a “d+” rating in a research report on Thursday, December 28th. Oppenheimer restated a “market perform” rating on shares of Sprinklr in a report on Thursday. KeyCorp initiated coverage on Sprinklr in a report on Thursday, March 21st. They set an “overweight” rating and a $19.00 price objective for the company. Finally, William Blair restated an “outperform” rating on shares of Sprinklr in a research report on Thursday. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Sprinklr currently has an average rating of “Moderate Buy” and a consensus target price of $16.59.

Sprinklr Price Performance

Sprinklr stock opened at $13.00 on Thursday. The stock’s 50 day moving average price is $12.90 and its 200 day moving average price is $13.37. Sprinklr has a 1-year low of $10.45 and a 1-year high of $17.14. The company has a market cap of $3.56 billion, a PE ratio of 118.19, a price-to-earnings-growth ratio of 2.95 and a beta of 0.89.

Insider Transactions at Sprinklr

In related news, CFO Manish Sarin sold 60,651 shares of Sprinklr stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $12.01, for a total value of $728,418.51. Following the transaction, the chief financial officer now owns 644,946 shares in the company, valued at $7,745,801.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Manish Sarin sold 60,651 shares of the stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $12.01, for a total transaction of $728,418.51. Following the completion of the sale, the chief financial officer now owns 644,946 shares of the company’s stock, valued at approximately $7,745,801.46. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Diane Adams sold 16,600 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $13.03, for a total transaction of $216,298.00. Following the sale, the insider now owns 251,340 shares of the company’s stock, valued at $3,274,960.20. The disclosure for this sale can be found here. Insiders sold a total of 195,682 shares of company stock worth $2,476,123 in the last ninety days. Insiders own 40.29% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in shares of Sprinklr by 302.9% in the second quarter. BlackRock Inc. now owns 6,344,527 shares of the company’s stock valued at $87,745,000 after buying an additional 4,769,625 shares in the last quarter. Cadian Capital Management LP grew its position in Sprinklr by 29.9% in the fourth quarter. Cadian Capital Management LP now owns 14,560,167 shares of the company’s stock valued at $175,304,000 after acquiring an additional 3,355,566 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Sprinklr by 180.0% during the first quarter. Vanguard Group Inc. now owns 4,611,375 shares of the company’s stock valued at $54,875,000 after purchasing an additional 2,964,701 shares during the period. Point72 Asset Management L.P. lifted its position in shares of Sprinklr by 16,066.1% during the fourth quarter. Point72 Asset Management L.P. now owns 1,907,600 shares of the company’s stock worth $22,968,000 after purchasing an additional 1,895,800 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Sprinklr in the fourth quarter valued at $21,405,000. 40.19% of the stock is owned by hedge funds and other institutional investors.

About Sprinklr

Sprinklr, Inc provides enterprise cloud software products worldwide. The company offers Unified Customer Experience Management platform, a purpose-built to analyze unstructured customer experience data, built to scale across future and modern channels, and integrates all stages of the customer journey.