Cerence (CRNC) Stock Price, News & Analysis

6 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Cerence in the last twelve months. There are currently 4 hold ratings and 2 buy ratings for the stock. The consensus among Wall Street 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 Wall Street analysts have issued 1 year price objectives for Cerence's stock. Their CRNC share price targets range from $15.00 to $25.00. On average, they anticipate the company's stock price to reach $20.83 in the next year. This suggests a possible upside of 119.5% from the stock's current price.
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Cerence's stock was trading at $19.66 at the start of the year. Since then, CRNC stock has decreased by 51.7% and is now trading at $9.49.
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Cerence saw a increase in short interest in March. As of March 31st, there was short interest totaling 6,290,000 shares, an increase of 10.7% from the March 15th total of 5,680,000 shares. Based on an average daily trading volume, of 469,300 shares, the days-to-cover ratio is currently 13.4 days. Currently, 17.5% of the shares of the stock are sold short.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, May 9th 2024.
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Cerence will be holding an earnings conference call on Thursday, May 9th at 8:30 AM Eastern. Interested parties can register for or listen to the call using this link.

Cerence Inc. (NASDAQ:CRNC) released its quarterly earnings data on Tuesday, February, 6th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.23. The firm earned $138.34 million during the quarter, compared to the consensus estimate of $130.89 million. Cerence had a positive trailing twelve-month return on equity of 2.53% and a negative net margin of 8.66%.

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

Cerence updated its second quarter 2024 earnings guidance on Tuesday, February, 6th. The company provided EPS guidance of for the period. The company issued revenue guidance of $60.0 million-$64.0 million, compared to the consensus revenue estimate of $70.9 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 a number of retail and institutional investors. Top institutional shareholders include Kovack Advisors Inc. (0.10%). 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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