Sprinklr (NYSE:CXM) Updates Q3 2023 Earnings Guidance

Sprinklr (NYSE:CXMGet Rating) updated its third quarter 2023 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of -$0.02–$0.01 for the period, compared to the consensus estimate of -$0.05. The company issued revenue guidance of $155.00 million-$157.00 million, compared to the consensus revenue estimate of $156.26 million. Sprinklr also updated its FY 2023 guidance to -$0.08–$0.06 EPS.

Sprinklr Price Performance

NYSE CXM traded down $0.23 during trading hours on Friday, hitting $9.42. The company’s stock had a trading volume of 666 shares, compared to its average volume of 841,578. The company’s 50-day simple moving average is $11.60 and its two-hundred day simple moving average is $11.80. Sprinklr has a 52 week low of $9.41 and a 52 week high of $20.29.

Sprinklr (NYSE:CXMGet Rating) last announced its earnings results on Thursday, September 8th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.03. Sprinklr had a negative return on equity of 20.08% and a negative net margin of 20.66%. The company had revenue of $150.60 million for the quarter, compared to analysts’ expectations of $147.45 million. During the same quarter in the previous year, the firm earned ($0.20) earnings per share. Sprinklr’s quarterly revenue was up 26.9% on a year-over-year basis. As a group, research analysts anticipate that Sprinklr will post -0.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on CXM. Morgan Stanley boosted their price target on shares of Sprinklr from $12.00 to $14.00 and gave the stock an equal weight rating in a report on Friday, September 9th. Barclays upped their target price on Sprinklr from $14.00 to $15.00 and gave the company an overweight rating in a report on Wednesday, June 15th. Citigroup lifted their price target on Sprinklr from $12.00 to $13.00 and gave the stock a neutral rating in a report on Thursday, September 15th. Stifel Nicolaus reduced their price objective on Sprinklr from $18.00 to $15.00 in a research note on Wednesday, June 15th. Finally, JPMorgan Chase & Co. lowered their target price on Sprinklr from $20.00 to $15.00 and set an overweight rating on the stock in a research note on Wednesday, June 15th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Sprinklr has an average rating of Moderate Buy and a consensus target price of $16.13.

Insider Buying and Selling at Sprinklr

In other news, General Counsel Daniel P. Haley sold 62,000 shares of Sprinklr stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $12.67, for a total value of $785,540.00. Following the completion of the transaction, the general counsel now owns 100,000 shares in the company, valued at $1,267,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Sprinklr news, General Counsel Daniel P. Haley sold 62,000 shares of the stock in a transaction on Monday, August 15th. The stock was sold at an average price of $12.67, for a total transaction of $785,540.00. Following the sale, the general counsel now owns 100,000 shares in the company, valued at $1,267,000. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Manish Sarin sold 3,931 shares of the firm’s stock in a transaction on Friday, September 16th. The stock was sold at an average price of $10.21, for a total value of $40,135.51. Following the completion of the transaction, the chief financial officer now directly owns 559,015 shares of the company’s stock, valued at $5,707,543.15. The disclosure for this sale can be found here. Insiders have sold a total of 128,419 shares of company stock valued at $1,511,120 over the last three months. 43.75% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sprinklr

Several hedge funds and other institutional investors have recently modified their holdings of CXM. Citigroup Inc. boosted its position in shares of Sprinklr by 308.9% in the first quarter. Citigroup Inc. now owns 2,212 shares of the company’s stock valued at $26,000 after acquiring an additional 1,671 shares during the period. Advisors Asset Management Inc. bought a new position in Sprinklr in the 1st quarter valued at $44,000. Captrust Financial Advisors purchased a new position in shares of Sprinklr during the 2nd quarter valued at $48,000. UBS Group AG increased its holdings in shares of Sprinklr by 23.4% in the first quarter. UBS Group AG now owns 5,862 shares of the company’s stock worth $69,000 after purchasing an additional 1,111 shares during the period. Finally, Brown Brothers Harriman & Co. purchased a new stake in shares of Sprinklr in the first quarter worth $108,000. 53.95% of the stock is currently owned by institutional investors.

About Sprinklr

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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.

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Earnings History and Estimates for Sprinklr (NYSE:CXM)

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