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Headlines
- Sprinklr sees a slight drop in stock value
- Analysts adjust price targets following performance review
- Trading volume declines significantly during recent sessions
Sprinklr, Inc. (NYSE:CXM) experienced a 1.1% drop in its stock price, closing at $8.20 on a recent trading day. This decline occurred as the stock reached a low of $7.77 earlier in the day. The trading volume was significantly lower, with just over 760,000 shares exchanged, a sharp decrease compared to its usual daily average of over 2.2 million shares.
Following this price movement, multiple analysts have reassessed their outlook on the company. Rosenblatt Securities lowered its price target from $14 to $11 while maintaining its favorable rating. Similarly, Morgan Stanley revised its target from $12 to $10, keeping its neutral stance on the stock. Citigroup also adjusted its price target down to $9, reflecting a more cautious outlook, and has placed a neutral rating on the company. On the other hand, JMP Securities reaffirmed its market-outperform rating and set a price target of $17 for Sprinklr, signaling continued optimism in the stock’s long-term trajectory.
While some analysts have tempered their expectations, Wells Fargo & Company took a more significant step, reducing both its rating and price target. The firm lowered its target to $6, suggesting that Sprinklr may face challenges in the near term. This action contributes to the broader sentiment where some analysts remain cautious, with a mix of ratings from neutral to underweight.
Despite this fluctuation in sentiment, the ongoing analysis indicates varying perspectives on Sprinklr’s ability to navigate current market conditions. With price targets ranging from $6 to $17, the stock's future movement will likely depend on the company’s performance in the coming quarters and broader industry trends.
Sprinklr continues to generate mixed analyst reviews as its stock faces price adjustments across the board. The latest trading data highlights a shift in investor sentiment, but it remains to be seen how the company will respond to these challenges moving forward.
