Cerence (CRNC) Stock Price, News & Analysis

6 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Cerence in the last year. There are currently 6 hold ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "hold" CRNC shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in CRNC, but not buy additional shares or sell existing shares.
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6 equities research analysts have issued 12 month price targets for Cerence's shares. Their CRNC share price targets range from $6.00 to $23.00. On average, they expect the company's share price to reach $10.08 in the next twelve months. This suggests a possible upside of 97.7% from the stock's current price.
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Cerence's stock was trading at $19.66 at the beginning of 2024. Since then, CRNC stock has decreased by 74.1% and is now trading at $5.10.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, August 13th 2024.
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Cerence Inc. (NASDAQ:CRNC) released its quarterly earnings results on Monday, November, 27th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by $0.06. The business earned $80.80 million during the quarter, compared to analyst estimates of $74.37 million. Cerence had a negative net margin of 80.93% and a positive trailing twelve-month return on equity of 3.66%. Cerence's revenue was up 39.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.27) EPS.

ETFs with the largest weight of Cerence (NASDAQ:CRNC) stock in their portfolio include Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares (EVAV), First Trust Nasdaq Artificial Intelligence and Robotics ETF (ROBT) and Global X Robotics & Artificial Intelligence Thematic ETF (BOTZ).Direxion Daily S&P Expanded Tech Software Sector Bull 2X Shares (SWAR).

Cerence issued an update on its third quarter 2024 earnings guidance on Thursday, May, 9th. The company provided earnings per share (EPS) guidance of -0.010-0.130 for the period, compared to the consensus EPS estimate of 0.130. The company issued revenue guidance of $66.0 million-$72.0 million, compared to the consensus revenue estimate of $75.5 million.

Based on aggregate information from My MarketBeat watchlists, some companies that other Cerence investors own include NVIDIA (NVDA), Block (SQ), Fastly (FSLY), DocuSign (DOCU), PayPal (PYPL), Shopify (SHOP), Teladoc Health (TDOC), Alteryx (AYX), Lumentum (LITE) and Salesforce (CRM).

Cerence's stock is owned by many different retail and institutional investors. Top institutional shareholders include Vanguard Group Inc. (12.79%), Pinnacle Associates Ltd. (1.49%), Mirae Asset Global Investments Co. Ltd. (0.86%), Principal Financial Group Inc. (0.52%), Sei Investments Co. (0.22%) and Susquehanna Fundamental Investments LLC (0.21%). Insiders that own company stock include Christophe Couvreur, Iqbal Arshad, Leanne Fitzgerald, Mark J Gallenberger, Prateek Kathpal, Sanjay Dhawan, Stefan Ortmanns and Thomas L Beaudoin.
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Shares of CRNC stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
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