Sprinklr (NYSE:CXM) Updates FY 2023 Earnings Guidance

Sprinklr (NYSE:CXMGet Rating) updated its FY 2023 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $-0.220-$-0.200 for the period, compared to the Thomson Reuters consensus estimate of $-0.200. The company issued revenue guidance of $607 million-$615 million, compared to the consensus revenue estimate of $588.97 million.Sprinklr also updated its Q1 2023 guidance to $-0.070-$-0.060 EPS.

CXM has been the topic of a number of recent research reports. Citigroup increased their target price on Sprinklr from $14.00 to $15.00 and gave the stock a neutral rating in a research note on Thursday, April 7th. Zacks Investment Research upgraded shares of Sprinklr from a hold rating to a buy rating and set a $13.00 target price on the stock in a research note on Thursday, March 24th. JMP Securities reduced their price target 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. Barclays lowered their price objective on shares of Sprinklr from $23.00 to $19.00 and set an overweight rating on the stock in a research report on Wednesday, January 12th. Finally, Morgan Stanley lifted their target price on shares of Sprinklr from $14.00 to $15.00 and gave the stock an equal weight rating in a research report on Thursday, April 7th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Buy and a consensus target price of $18.33.

Shares of CXM stock opened at $13.81 on Wednesday. The business has a fifty day moving average of $11.89. Sprinklr has a 52 week low of $9.62 and a 52 week high of $26.50.

Sprinklr (NYSE:CXMGet Rating) last posted its earnings results on Wednesday, April 6th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.04. The firm had revenue of $135.67 million during the quarter, compared to analyst estimates of $130.38 million. Sprinklr had a negative net margin of 23.17% and a negative return on equity of 37.61%. The firm’s revenue for the quarter was up 30.3% on a year-over-year basis. As a group, equities analysts forecast that Sprinklr will post -0.47 earnings per share for the current year.

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

A number of hedge funds have recently added to or reduced their stakes in CXM. Morgan Stanley bought a new position in Sprinklr in the second quarter worth approximately $566,000. Royal Bank of Canada purchased a new stake in shares of Sprinklr in the 2nd quarter worth $31,000. Wells Fargo & Company MN bought a new position in shares of Sprinklr during the 2nd quarter worth $670,000. Bank of America Corp DE purchased a new position in shares of Sprinklr during the fourth quarter valued at $147,000. Finally, Geode Capital Management LLC raised its holdings in shares of Sprinklr by 15.5% in the fourth quarter. Geode Capital Management LLC now owns 137,541 shares of the company’s stock valued at $2,182,000 after acquiring an additional 18,456 shares in the last quarter. Institutional investors and hedge funds 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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