Sprinklr (NYSE:CXM) Shares Gap Up Following Better-Than-Expected Earnings

Sprinklr, Inc. (NYSE:CXM) gapped up prior to trading on Wednesday following a stronger than expected earnings report. The stock had previously closed at $8.55, but opened at $9.00. Sprinklr shares last traded at $9.07, with a volume of 1,111,036 shares.

The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. Sprinklr had a net margin of 5.59% and a return on equity of 7.84%. The business had revenue of $205.50 million for the quarter, compared to the consensus estimate of $201.83 million. During the same period last year, the firm posted $0.09 earnings per share. Sprinklr’s quarterly revenue was up 4.9% on a year-over-year basis.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. DA Davidson raised their price objective on shares of Sprinklr from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Thursday. JMP Securities restated a “market outperform” rating and set a $17.00 price target on shares of Sprinklr in a research report on Thursday. William Blair lowered Sprinklr from an “outperform” rating to a “market perform” rating in a research note on Friday, February 7th. Scotiabank increased their price objective on Sprinklr from $8.50 to $9.00 and gave the company a “sector perform” rating in a research report on Thursday, March 13th. Finally, Wells Fargo & Company raised their price objective on Sprinklr from $6.00 to $7.00 and gave the company an “underweight” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Sprinklr presently has a consensus rating of “Hold” and a consensus price target of $10.25.

Insider Activity at Sprinklr

In other Sprinklr news, Director Neeraj Agrawal sold 26,053 shares of Sprinklr stock in a transaction that occurred 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 transaction, the director now directly owns 968,306 shares of the company’s stock, valued at $8,985,879.68. The trade was a 2.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 60.53% of the stock is currently owned by company insiders.

Institutional Trading of Sprinklr

Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC increased its stake in shares of Sprinklr by 209.5% in the first quarter. GAMMA Investing LLC now owns 3,677 shares of the company’s stock worth $31,000 after buying an additional 2,489 shares during the period. PNC Financial Services Group Inc. grew its holdings in Sprinklr by 100.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,856 shares of the company’s stock worth $33,000 after acquiring an additional 1,928 shares during the last quarter. Ancora Advisors LLC purchased a new position in shares of Sprinklr in the fourth quarter valued at about $34,000. Quarry LP raised its stake in shares of Sprinklr by 5,071.8% during the first quarter. Quarry LP now owns 7,706 shares of the company’s stock valued at $64,000 after acquiring an additional 7,557 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Sprinklr during the fourth quarter valued at about $89,000. Hedge funds and other institutional investors own 40.19% of the company’s stock.

Sprinklr Price Performance

The company has a market capitalization of $2.26 billion, a P/E ratio of 55.22, a PEG ratio of 2.31 and a beta of 0.81. The company has a 50 day moving average of $7.86 and a 200-day moving average of $8.43.

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.