Cerence (CRNC) Stock Price, News & Analysis

6 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Cerence in the last year. 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 brokers 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 twelve months. This suggests a possible upside of 114.6% from the stock's current price.
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Cerence's stock was trading at $19.66 at the beginning of the year. Since then, CRNC stock has decreased by 50.6% and is now trading at $9.71.
View the best growth stocks for 2024 here.

Cerence saw a increase in short interest during the month of 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 short-interest ratio is presently 13.4 days. Approximately 17.5% of the shares of the company are sold short.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, May 9th 2024.
View our CRNC earnings forecast.

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) announced its earnings results on Tuesday, February, 6th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.72 by $0.23. The company had revenue of $138.34 million for the quarter, compared to the consensus estimate of $130.89 million. Cerence had a negative net margin of 8.66% and a positive trailing twelve-month return on equity of 2.53%.

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 issued an update on its second quarter 2024 earnings guidance on Tuesday, February, 6th. The company provided earnings per share (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 many different institutional and retail investors. Top institutional investors include Pinnacle Associates Ltd. (1.49%), Kovack Advisors Inc. (0.10%) and Yousif Capital Management LLC (0.04%). 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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