In last trading session, Cerence Inc. (NASDAQ:CRNC) saw 1,383,984 shares changing hands with its beta currently measuring 0. Company’s recent per share price level of $61.6 trading at $3.69 or 6.37% at ring of the bell on the day assigns it a market valuation of $2.26 Billion. That closing price of CRNC’s stock is at a discount of -1.35% from its 52-week high price of $62.43 and is indicating a premium of 81.51% from its 52-week low price of $11.39. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 570.33 Million shares which gives us an average trading volume of 956.69 Million if we extend that period to 3-months.
For Cerence Inc. (CRNC), analysts’ consensus is at an average recommendation of Overweight while assigning it a mean rating of 2. Splitting up the data highlights that, out of 8 analysts covering the stock, 1 rated the stock as a Sell while 1 recommended an Overweight rating for the stock. None suggested the stock as a Hold whereas 6 see the stock as a Buy. None analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $0.34 in the current quarter.
Cerence Inc. (NASDAQ:CRNC) trade information
Upright in the green today for gaining 6.37%, in the last five days CRNC remained trading in the green while hitting it’s week-highest on Wednesday, Sep 16 when the stock touched $62.44- price level, adding 1.35% to its value on the day. Cerence Inc.’s shares saw a change of 172.21% in year-to-date performance and have moved 18.19% in past 5-day. Cerence Inc. (NASDAQ:CRNC) showed a performance of 16.31% in past 30-days. Number of shares sold short was 5.33 Million shares which calculate 0.01 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $54.81 to the stock, which implies targetted prices is already lagging behind -11.02% to its current value. Analysts have been projecting $29 as a low price target for the stock while placing it at a high target of $62.5. It follows that stock’s current price would jump +1.46% in reaching the projected high whereas dropping to the targeted low would mean a loss of -52.92% for stock’s current value.
Cerence Inc. (CRNC) estimates and forecasts
8 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $79.37 Million for the same. And 7 analysts are in estimates of company making revenue of $82.42 Million in the next quarter that will end in December 01, 2020. Company posted $84.05 Million and $77.7 Million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to drop by -5.6% while estimating it to be 6.1% for the next quarter.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 0% during past 5 years. In 2020, company’s earnings growth rate is likely to be around -20.8% while estimates for its earnings growth in next 5 years are of 15%
Cerence Inc. (NASDAQ:CRNC)’s Major holders
Insiders are in possession of 0.23% of company’s total shares while institution are holding 89.34% percent of that, with stock having share float percentage of 89.54%. Investors also watch the number of corporate investors in a company very closely, which is 305 institutions for Cerence Inc. that are currently holding shares of the company. Ameriprise Financial, Inc. is the top institutional holder at CRNC for having 3.81 Million shares of worth $155.75 Million. And as of June 29, 2020, it was holding 10.38% of the company’s outstanding shares.
The second largest institutional holder is Vanguard Group, Inc. (The), which was holding about 3.31 Million shares on June 29, 2020. The number of shares represents firm’s hold over 9.01% of outstanding shares, having a total worth of $135.09 Million.
On the other hand, Columbia Fds Ser Tr II-Columbia Seligman Communications & Information and First Tr Exchg Tr AlphaDEX Fd-FT Technology AlphaDEX are the top two Mutual Funds which own company’s shares. As of May 30, 2020, the former fund manager was holding 2647124 shares of worth $79.18 Million or 7.21% of the total outstanding shares. The later fund manager was in possession of 1.76 Million shares on April 29, 2020, making its stake of worth around $37.34 Million in the company or a holder of 4.8% of company’s stock.