On Wednesday, updated its guidance for the second quarter of 2024. The company gave a guidance for earnings per share (EPS), which ranged from $0.04 to $0.05, as opposed to the consensus estimate $0.03. The company provided revenue guidance between $172.00 and $174.00 million, which is higher than the consensus estimate of $172.95 millions. Sprinklr updated its FY2024 guidance at $0.19-$0.21 per share.
Analyst Upgrades and downgrades
Several brokerages have made comments on CXM. JMP Securities increased their price target on Sprinklr to $20.00 from $16.00 and gave the company a outperform rating. This was in a research report published on Thursday, 30th March. JPMorgan Chase & Co. increased their price target on shares of Sprinklr to $14.00 in a Thursday, March 30, research note. The company was also given an overweight rating. Wells Fargo & Company increased their price target on shares of Sprinklr to $11.00 in a Thursday, March 30, research note. The company also gave it an equal-weight rating. Stifel Nicolaus increased their price target on shares of Sprinklr to $13.00 in a research report on Thursday, 30th March. The company was also given a Hold rating. TheStreet downgraded shares of Sprinklr on Monday from a rating of c to a rating of d+ in a research report. Five analysts gave the stock a hold recommendation and five others gave it a buy recommendation. On Wednesday, the price of shares fell by $0.40 to $14.30. The trading volume was 1,776,726 compared to the average of 1,141,631. The company has a simple moving 50-day average of $12.49, and a simple moving 200-day average of $10.52. Sprinklr's 52-week low is $7.25, and its 52-week highest is $14.95.
The company last released its quarterly earnings on Monday, 5th June. The company's $0.01 per share earnings for the quarter met analysts' expectations of $0.01. Revenue for the quarter was $173.36 millions, which is higher than analysts' expectations of $159.00 million. Sprinklr's negative return on equity was 5.19%, and its negative net margin was 4.28%. Sprinklr saw a 19.6% increase in revenue compared to last year's same quarter. In the same quarter last year, Sprinklr posted an EPS of ($0.10). Analysts on the sell-side predict that Sprinklr's earnings per share will be -0.04 for this fiscal year.
Insiders Bet on the Future
Battery Partners Ix Llc, a major shareholder, sold 499 599 shares in the company's stock on Tuesday, April 11, 2019. The stock was bought at an average of $12.70 for a total of $6,344,907.30. Battery Partners Ix Llc, a major shareholder, sold 499 599 shares in a deal that took place on Tuesday 11th April. The stock was bought at an average of $12.70 for a total of $6,344,907.30. Insider Diane Adams also sold 8,086 of the company's shares in a transaction on Thursday, 16th March. The shares were purchased at a price of $10.28 on average, resulting in a value of $83,124.08. After the sale, an insider owns directly 107,609 of the company's shares, worth approximately $1,106.220.52. Insiders sold 776 210 shares worth $9,623,214 in the past ninety-day period. Corporate insiders own 40.29%.
Sprinklr: hedge funds weigh in
Recently, hedge funds and institutional investors changed their holdings in the company. JPMorgan Chase & Co. increased its stake in Sprinklr shares by 37,314.8% over the first quarter. JPMorgan Chase & Co. owns 60 612 shares of the stock worth $722,000, after buying an additional 60 450 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Sprinklr during the first quarter, valued at about $11,368,000. Citigroup Inc. increased its stake in Sprinklr shares by 3089% in the first quarter. Citigroup Inc. owns 2,212 of the company stock, valued at $26,000. It purchased an additional 1,671 during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Sprinklr during the first quarter, valued at about $1,259,000. BlackRock Inc. increased its stake in Sprinklr shares by 227.7% during the first quarter. BlackRock Inc. owns 990.051 shares valued at $11,781,000, after buying an additional 687.969 shares. Institutional investors own 25.77% of the company's stock.
Sprinklr, Inc. provides enterprise cloud-based software products around the world. Sprinklr, Inc. provides enterprise cloud software products worldwide.
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