Scotiabank Forecasts Strong Price Appreciation for Sprinklr (NYSE:CXM) Stock

Sprinklr (NYSE:CXM) had its price target raised by equities research analysts at Scotiabank from $8.50 to $9.00 in a report released on Thursday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s target price points to a potential downside of 1.37% from the company’s previous close.

CXM has been the subject of several other research reports. Barclays lifted their price objective on shares of Sprinklr from $7.00 to $9.00 and gave the stock an “underweight” rating in a research note on Thursday, December 5th. Rosenblatt Securities boosted their price objective on Sprinklr from $10.50 to $12.00 and gave the company a “buy” rating in a report on Thursday. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $9.00 target price on shares of Sprinklr in a report on Thursday, December 5th. DA Davidson upped their target price on shares of Sprinklr from $8.00 to $9.50 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Finally, Stifel Nicolaus upped their price objective on shares of Sprinklr from $9.00 to $10.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $10.38.

Sprinklr Stock Down 0.8 %

NYSE CXM opened at $9.13 on Thursday. Sprinklr has a 12-month low of $6.91 and a 12-month high of $14.32. The firm’s 50 day moving average is $8.76 and its 200-day moving average is $8.28. The company has a market capitalization of $2.32 billion, a PE ratio of 57.03, a price-to-earnings-growth ratio of 2.31 and a beta of 0.80.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its position in Sprinklr by 100.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,856 shares of the company’s stock valued at $33,000 after purchasing an additional 1,928 shares during the last quarter. Ancora Advisors LLC purchased a new position in shares of Sprinklr in the 4th quarter valued at $34,000. FNY Investment Advisers LLC acquired a new stake in Sprinklr in the fourth quarter valued at approximately $42,000. SG Americas Securities LLC acquired a new position in Sprinklr during the 4th quarter valued at about $89,000. Finally, Cibc World Markets Corp acquired a new stake in shares of Sprinklr during the fourth quarter worth $92,000. Institutional investors own 40.19% of the company’s stock.

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.