Sprinklr (NYSE:CXM) Updates Q2 2023 Earnings Guidance

Sprinklr (NYSE:CXMGet Rating) issued an update on its second quarter 2023 earnings guidance on Tuesday morning. The company provided earnings per share guidance of -$0.06–$0.05 for the period, compared to the consensus earnings per share estimate of -$0.06. The company issued revenue guidance of $146.50 million-$148.50 million, compared to the consensus revenue estimate of $147.34 million. Sprinklr also updated its FY 2023 guidance to -$0.20–$0.18 EPS.

Shares of Sprinklr stock opened at $11.03 on Wednesday. The company has a market cap of $2.85 billion and a P/E ratio of -20.05. Sprinklr has a one year low of $9.41 and a one year high of $23.49. The firm has a fifty day moving average of $11.65 and a two-hundred day moving average of $12.32.

Sprinklr (NYSE:CXMGet Rating) last announced its quarterly earnings results on Tuesday, June 14th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. The business had revenue of $144.98 million during the quarter, compared to the consensus estimate of $140.96 million. Sprinklr had a negative net margin of 23.69% and a negative return on equity of 21.64%. The business’s quarterly revenue was up 30.6% compared to the same quarter last year. As a group, equities analysts anticipate that Sprinklr will post -0.41 EPS for the current year.

A number of equities analysts have recently issued reports on the stock. JMP Securities cut their price target on shares of Sprinklr from $27.00 to $22.00 and set a market outperform rating for the company in a report on Thursday, April 7th. Citigroup cut their price target on shares of Sprinklr from $15.00 to $12.00 and set a neutral rating for the company in a report on Thursday, June 16th. JPMorgan Chase & Co. cut their price target on shares of Sprinklr from $20.00 to $15.00 and set an overweight rating for the company in a report on Wednesday, June 15th. Stifel Nicolaus lowered their price objective on shares of Sprinklr from $18.00 to $15.00 in a research note on Wednesday, June 15th. Finally, Wells Fargo & Company increased their price objective on shares of Sprinklr from $11.00 to $12.00 and gave the company an equal weight rating in a research note on Thursday, April 7th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $17.07.

In other news, CTO Pavitar Singh sold 25,000 shares of Sprinklr stock in a transaction that occurred on Friday, June 24th. The shares were sold at an average price of $11.52, for a total transaction of $288,000.00. Following the sale, the chief technology officer now owns 269,738 shares in the company, valued at $3,107,381.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Diane Adams sold 2,759 shares of Sprinklr stock in a transaction that occurred on Friday, June 17th. The shares were sold at an average price of $10.18, for a total transaction of $28,086.62. Following the sale, the insider now owns 113,998 shares in the company, valued at approximately $1,160,499.64. The disclosure for this sale can be found here. Insiders sold 1,183,959 shares of company stock worth $17,175,719 in the last 90 days. 43.75% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Sprinklr by 180.0% in the first quarter. Vanguard Group Inc. now owns 4,611,375 shares of the company’s stock worth $54,875,000 after buying an additional 2,964,701 shares during the last quarter. BlackRock Inc. increased its stake in shares of Sprinklr by 227.7% in the first quarter. BlackRock Inc. now owns 990,051 shares of the company’s stock worth $11,781,000 after buying an additional 687,969 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Sprinklr in the first quarter worth $11,368,000. Goldman Sachs Group Inc. increased its stake in shares of Sprinklr by 290.0% in the first quarter. Goldman Sachs Group Inc. now owns 376,114 shares of the company’s stock worth $4,476,000 after buying an additional 279,675 shares during the last quarter. Finally, State Street Corp boosted its holdings in Sprinklr by 396.1% in the first quarter. State Street Corp now owns 375,884 shares of the company’s stock worth $4,473,000 after purchasing an additional 300,114 shares during the period. Institutional investors own 30.22% of the company’s stock.

About Sprinklr (Get Rating)

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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