Cerence Inc. (NASDAQ: CRNC) is -67.38% lower on its value in year-to-date trading and has touched a low of $23.67 and a high of $125.73 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The CRNC stock was last observed hovering at around $24.43 in the last trading session, with the day’s gains setting it 0.57% off its average median price target of $40.50 for the next 12 months. It is also 61.54% off the consensus price target high of $65.00 offered by 12 analysts, but current levels are 7.41% higher than the price target low of $27.00 for the same period.
Currently trading at $25.00, the stock is -3.98% and -10.53% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.26 million and changing 2.33% at the moment leaves the stock -54.55% off its SMA200. CRNC registered -76.90% loss for a year compared to 6-month loss of -66.87%.
The stock witnessed a -5.94% gain in the last 1 month and extending the period to 3 months gives it a -22.84%, and is 2.25% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.10% over the week and 4.79% over the month.
Cerence Inc. (CRNC) has around 1700 employees, a market worth around $965.00M and $375.60M in sales. Current P/E ratio is 30.90 and Fwd P/E is 10.59. Profit margin for the company is 8.60%. Distance from 52-week low is 5.62% and -80.12% from its 52-week high. The company has generated returns on investments over the last 12 months (4.50%).
Cerence Inc. (CRNC) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Cerence Inc. (CRNC) is a “Overweight”. 12 analysts offering their recommendations for the stock have an average rating of 2.50, where 6 rate it as a Hold and 1 think it is a “Overweight”. 5 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Cerence Inc. is expected to release its quarterly report on 11/21/2022.The EPS is expected to grow by 332.30% this year.
Cerence Inc. (CRNC) Top Institutional Holders
The shares outstanding are 39.19M, and float is at 38.55M with Short Float at 14.15%.
Cerence Inc. (CRNC) Insider Activity
A total of 12 insider transactions have happened at Cerence Inc. (CRNC) in the last six months, with sales accounting for 1 and purchases happening 11 times. The most recent transaction is an insider sale by Kathpal Prateek ,the company’sEVP & CTO. SEC filings show that Kathpal Prateek sold 10,421 shares of the company’s common stock on May 27 at a price of $31.77 per share for a total of $0.33 million. Following the sale, the insider now owns 74316.0 shares.
Cerence Inc. disclosed in a document filed with the SEC on Dec 07 that Dhawan Sanjay (Chief Executive Officer) sold a total of 3,491 shares of the company’s common stock. The trade occurred on Dec 07 and was made at $69.00 per share for $0.24 million. Following the transaction, the insider now directly holds 0.29 million shares of the CRNC stock.
Still, SEC filings show that on Dec 07, Fitzgerald Leanne (General Counsel) disposed off 1,152 shares at an average price of $69.00 for $79488.0. The insider now directly holds 51,893 shares of Cerence Inc. (CRNC).