Sprinklr (NYSE:CXM) Issues Q1 2023 Earnings Guidance

Sprinklr (NYSE:CXM – Get Rating) updated its first quarter 2023 earnings guidance on Wednesday. The company provided earnings per share guidance of $-0.070-$-0.060 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $-0.060. The company issued revenue guidance of $140 million-$142 million, compared to the consensus revenue estimate of $135.93 million.Sprinklr also updated its FY 2023 guidance to $-0.220-$-0.200 EPS.

CXM opened at $13.81 on Wednesday. Sprinklr has a fifty-two week low of $9.62 and a fifty-two week high of $26.50. The stock’s fifty day moving average price is $11.89.

Sprinklr (NYSE:CXM – Get Rating) last released its earnings results on Wednesday, April 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.04. The company had revenue of $135.67 million for the quarter, compared to analyst estimates of $130.38 million. Sprinklr had a negative return on equity of 37.61% and a negative net margin of 23.17%. Sprinklr’s revenue for the quarter was up 30.3% on a year-over-year basis. Research analysts forecast that Sprinklr will post -0.47 EPS for the current fiscal year.

CXM has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price objective on shares of Sprinklr from $14.00 to $15.00 and gave the company an equal weight rating in a research note on Thursday, April 7th. Barclays lowered their price target on Sprinklr from $23.00 to $19.00 and set an overweight rating for the company in a report on Wednesday, January 12th. JMP Securities reduced their price objective on Sprinklr from $27.00 to $22.00 and set a market outperform rating on the stock in a research note on Thursday, April 7th. Citigroup boosted their price objective on Sprinklr from $14.00 to $15.00 and gave the stock a neutral rating in a research report on Thursday, April 7th. Finally, KeyCorp cut Sprinklr from an overweight rating to a sector weight rating in a research note on Thursday, February 3rd. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Buy and an average price target of $18.33.

In related news, CEO Ragy Thomas sold 1,048,005 shares of the stock in a transaction dated Monday, April 11th. The shares were sold at an average price of $14.79, for a total value of $15,499,993.95. Following the completion of the transaction, the chief executive officer now directly owns 31,250 shares of the company’s stock, valued at $462,187.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Corporate Investors Ix Lt H&F purchased 9,448,005 shares of the firm’s stock in a transaction that occurred on Monday, April 11th. The stock was acquired at an average price of $14.79 per share, with a total value of $139,735,993.95. Following the completion of the purchase, the insider now owns 10,861,506 shares in the company, valued at $160,641,673.74. The disclosure for this purchase can be found here.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada purchased a new stake in Sprinklr during the second quarter valued at $31,000. Deutsche Bank AG bought a new position in Sprinklr during the 4th quarter worth about $40,000. Legal & General Group Plc purchased a new position in Sprinklr in the fourth quarter valued at about $95,000. Bank of America Corp DE purchased a new stake in Sprinklr during the fourth quarter valued at approximately $147,000. Finally, Credit Suisse AG acquired a new stake in Sprinklr in the fourth quarter worth about $276,000. Institutional investors own 36.01% of the company’s stock.

About Sprinklr (Get Rating)

Sprinklr, Inc develops and provides a cloud-based unified customer experience management platform for enterprises worldwide. It enables organizations to do marketing, advertising, research, care, sales, and engagement across modern channels, including social, messaging, chat, and text through its unified customer experience management software platform.

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