Cerence - CRNC Stock Forecast, Price & News

8 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Cerence in the last twelve months. There are currently 5 hold ratings and 3 buy 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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8 brokerages have issued 12 month target prices for Cerence's stock. Their CRNC share price forecasts range from $27.00 to $42.00. On average, they predict the company's share price to reach $33.25 in the next year. This suggests a possible upside of 26.4% from the stock's current price.
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Cerence's stock was trading at $18.53 on January 1st, 2023. Since then, CRNC stock has increased by 41.9% and is now trading at $26.30.
View the best growth stocks for 2023 here.

Cerence saw a decline in short interest during the month of February. As of February 28th, there was short interest totaling 3,000,000 shares, a decline of 9.9% from the February 13th total of 3,330,000 shares. Based on an average trading volume of 463,600 shares, the short-interest ratio is presently 6.5 days.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, May 9th 2023.
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Cerence Inc. (NASDAQ:CRNC) announced its earnings results on Wednesday, February, 8th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.13. The business had revenue of $83.66 million for the quarter, compared to analysts' expectations of $76.97 million. Cerence had a positive trailing twelve-month return on equity of 1.04% and a negative net margin of 104.70%.

ETFs with the largest weight of Cerence (NASDAQ:CRNC) stock in their portfolio include Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares (EVAV), WisdomTree Artificial Intelligence and Innovation Fund (WTAI), iShares Virtual Work and Life Multisector ETF (IWFH), Mohr Growth ETF (MOHR), Invesco S&P SmallCap Information Technology ETF (PSCT), SPDR S&P Software & Services ETF (XSW), First Trust S-Network Future Vehicles & Technology ETF (CARZ) and Syntax Stratified SmallCap ETF (SSLY).

Cerence issued an update on its second quarter 2023 earnings guidance on Wednesday, February, 8th. The company provided EPS guidance of for the period. The company issued revenue guidance of $64.00 million-$68.00 million, compared to the consensus revenue estimate of $68.25 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 trades on the NASDAQ under the ticker symbol "CRNC."

Cerence's stock is owned by a variety of institutional and retail investors. Top institutional shareholders include Van Berkom & Associates Inc. (4.64%), Morgan Stanley (2.07%), Vulcan Value Partners LLC (2.06%), Geode Capital Management LLC (1.85%), American Capital Management Inc. (1.69%) and Norges Bank (1.63%). Insiders that own company stock include Christophe Couvreur, Kristi Ann Matus, 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 WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of CRNC stock can currently be purchased for approximately $26.30.

Cerence (NASDAQ:CRNC) has a market capitalization of $1.06 billion and generates $327.89 million in revenue each year. The company earns $-310,830,000.00 in net income (profit) each year or ($8.43) on an earnings per share basis.

The company employs 1,700 workers across the globe.

Cerence's mailing address is 15 WAYSIDE ROAD, BURLINGTON MA, 01803. The official website for the company is www.cerence.com. The company can be reached via phone at 857-362-7300 or via email at richard.yerganian@cerence.com.