Sprinklr (NYSE:CXM) Issues FY 2023 Earnings Guidance

Sprinklr (NYSE:CXMGet Rating) issued an update on its FY 2023 earnings guidance on Thursday morning. The company provided EPS guidance of -$0.08–$0.06 for the period, compared to the consensus EPS estimate of -$0.19. The company issued revenue guidance of $616.00 million-$620.00 million, compared to the consensus revenue estimate of $613.58 million. Sprinklr also updated its Q3 2023 guidance to -$0.02–$0.01 EPS.

Sprinklr Trading Down 2.9 %

CXM traded down $0.29 on Thursday, hitting $9.65. 57,602 shares of the company’s stock were exchanged, compared to its average volume of 804,807. Sprinklr has a fifty-two week low of $9.41 and a fifty-two week high of $20.29. The firm has a 50-day moving average price of $11.61 and a 200-day moving average price of $11.81. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of -22.11 and a beta of 0.63.

Sprinklr (NYSE:CXMGet Rating) last posted its earnings results on Thursday, September 8th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.03. The company had revenue of $150.60 million for the quarter, compared to analysts’ expectations of $147.45 million. Sprinklr had a negative net margin of 20.66% and a negative return on equity of 20.08%. Sprinklr’s revenue for the quarter was up 26.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.20) earnings per share. On average, equities analysts predict that Sprinklr will post -0.32 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CXM. Barclays upped their target price on shares of Sprinklr from $14.00 to $15.00 and gave the stock an overweight rating in a research note on Wednesday, June 15th. Morgan Stanley increased their price objective on Sprinklr from $12.00 to $14.00 and gave the company an equal weight rating in a report on Friday, September 9th. Stifel Nicolaus decreased their price target on Sprinklr from $18.00 to $15.00 in a report on Wednesday, June 15th. Citigroup increased 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. Finally, JPMorgan Chase & Co. decreased their price target on Sprinklr from $20.00 to $15.00 and set an overweight rating for the company in a report on Wednesday, June 15th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $16.13.

Insiders Place Their Bets

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 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, General Counsel Daniel P. Haley sold 62,000 shares of the firm’s stock in a transaction on Monday, August 15th. The stock was 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 sale was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Pavitar Singh sold 25,000 shares of Sprinklr stock in a transaction dated Friday, June 24th. The stock was sold at an average price of $11.52, for a total value of $288,000.00. Following the sale, the chief technology officer now owns 269,738 shares of the company’s stock, valued at approximately $3,107,381.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 153,419 shares of company stock worth $1,799,120. 43.75% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sprinklr

Several hedge funds and other institutional investors have recently modified their holdings of CXM. Royal Bank of Canada raised its holdings in shares of Sprinklr by 117.2% during the 1st quarter. Royal Bank of Canada now owns 36,025 shares of the company’s stock valued at $428,000 after buying an additional 19,438 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Sprinklr in the 2nd quarter valued at approximately $354,000. Charles Schwab Investment Management Inc. bought a new stake in shares of Sprinklr in the 1st quarter valued at approximately $255,000. Graham Capital Management L.P. bought a new stake in shares of Sprinklr in the 1st quarter valued at approximately $232,000. Finally, UBS Group AG boosted its position in Sprinklr by 200.7% during the 2nd quarter. UBS Group AG now owns 17,629 shares of the company’s stock valued at $178,000 after purchasing an additional 11,767 shares during the period. 53.95% of the stock is owned by institutional investors and hedge funds.

Sprinklr Company Profile

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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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