Thomas Ragy, a director at Sprinklr, Inc. (NYSE:CXM), recently sold shares of the company's Class A common stock, according to a regulatory filing. The company, which maintains a strong financial health score according to InvestingPro analysis, has shown robust performance with a market capitalization of $2.3 billion and strong liquidity metrics. The transactions, which took place on December 16 and 17, amounted to a total value of $144,169. The shares were sold at prices ranging from $9.32 to $9.37 per share, with the stock currently trading at a premium to its Fair Value based on InvestingPro's comprehensive analysis.
The sales were conducted to cover statutory tax withholding obligations related to the vesting of restricted stock units, as mandated by Sprinklr's equity incentive plans. Following these transactions, Ragy now holds 1,032,532 shares of Sprinklr. The company maintains a healthy balance sheet with more cash than debt and has demonstrated strong revenue growth of 12% over the last twelve months.
In other recent news, Sprinklr Inc has been the subject of various analyst reviews following its recent financial results. JPMorgan (NYSE:JPM) downgraded Sprinklr's stock from Overweight to Neutral, citing potential near-term operational risks despite the company's reasonable valuation. Conversely, KeyBanc Capital Markets upheld its Overweight rating on Sprinklr, acknowledging the company's positive performance and strategic changes under its new CEO, Rory Read.
Oppenheimer maintained its Perform rating on Sprinklr's shares, noting that despite challenging optics for the business, depressed multiples limit the downside. DA Davidson increased its price target for Sprinklr to $9.50 while retaining a Neutral rating, following the company's stronger-than-anticipated revenue and a boost in cRPO growth. Lastly, Citi also increased its price target to $10, maintaining a Neutral rating despite weak billings and ongoing budgetary pressures.
These recent developments reflect differing analyst perspectives on Sprinklr's financial trajectory and its execution of growth strategies under new leadership. Despite the variety of ratings, all firms highlighted the company's strong financial health and the positive steps taken by the new CEO towards improving operational efficiency.
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