Sprinklr (NYSE:CXM) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Sprinklr (NYSE:CXM – Get Rating) issued its quarterly earnings data on Tuesday. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.01, Briefing.com reports. The company had revenue of $144.98 million during the quarter, compared to analysts’ expectations of $140.96 million. Sprinklr had a negative net margin of 23.17% and a negative return on equity of 30.66%. The business’s quarterly revenue was up 30.6% on a year-over-year basis.

Shares of CXM traded down $0.56 during mid-day trading on Thursday, reaching $9.78. The company’s stock had a trading volume of 23,652 shares, compared to its average volume of 737,759. Sprinklr has a 52 week low of $9.41 and a 52 week high of $26.50. The company’s fifty day moving average price is $12.52 and its two-hundred day moving average price is $12.69.

In other news, major shareholder Corporate Investors Ix Lt H&F purchased 9,448,005 shares of the stock in a transaction that occurred on Monday, April 11th. The stock was bought at an average cost of $14.79 per share, for a total transaction of $139,735,993.95. Following the acquisition, the insider now directly owns 10,861,506 shares of the company’s stock, valued at approximately $160,641,673.74. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Daniel P. Haley sold 2,763 shares of the company’s stock in a transaction on Tuesday, April 19th. The shares were sold at an average price of $13.52, for a total transaction of $37,355.76. Following the sale, the general counsel now owns 100,000 shares of the company’s stock, valued at $1,352,000. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,131,999 shares of company stock valued at $16,612,488. Company insiders own 43.75% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Bank of America Corp DE increased its position in Sprinklr by 388.7% during the 1st quarter. Bank of America Corp DE now owns 45,410 shares of the company’s stock valued at $541,000 after purchasing an additional 36,118 shares during the period. Advisors Asset Management Inc. purchased a new stake in shares of Sprinklr in the 1st quarter worth about $44,000. Royal Bank of Canada grew its position in shares of Sprinklr by 117.2% in the 1st quarter. Royal Bank of Canada now owns 36,025 shares of the company’s stock worth $428,000 after buying an additional 19,438 shares during the period. Ensign Peak Advisors Inc purchased a new stake in shares of Sprinklr in the 1st quarter worth about $111,000. Finally, California State Teachers Retirement System grew its position in shares of Sprinklr by 235.1% in the 1st quarter. California State Teachers Retirement System now owns 83,558 shares of the company’s stock worth $994,000 after buying an additional 58,623 shares during the period. 30.22% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages recently commented on CXM. Morgan Stanley reduced their price objective on shares of Sprinklr from $15.00 to $12.00 and set an “equal weight” rating for the company in a research note on Wednesday. JMP Securities reduced their price objective on shares of Sprinklr from $27.00 to $22.00 and set a “market outperform” rating for the company in a research note on Thursday, April 7th. JPMorgan Chase & Co. dropped their target price on shares of Sprinklr from $20.00 to $15.00 and set an “overweight” rating for the company in a research report on Wednesday. Wells Fargo & Company lifted their target price on shares of Sprinklr from $11.00 to $12.00 and gave the company an “equal weight” rating in a research report on Thursday, April 7th. Finally, Stifel Nicolaus dropped their target price on shares of Sprinklr from $18.00 to $15.00 in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Sprinklr currently has a consensus rating of “Buy” and an average target price of $17.07.

About Sprinklr (Get Rating)

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.

Further Reading