Cerence Inc. (NASDAQ:CRNC) has a beta value of 0 and has seen 652,418 shares traded in the last trading session. The company, currently valued at $2.08 Billion, closed the last trade at $56.75 per share which meant it gained $3.47 on the day or 6.51% during that session. The CRNC stock price is -10.03% off its 52-week high price of $62.44 and 79.93% above the 52-week low of $11.39. If we look at the company’s 10-day average daily trading volume, we find that it stood at 516.09 Million shares traded. The 3-month trading volume is 715.64 Million shares.
The consensus among analysts is that Cerence Inc. (CRNC) is an Overweight stock at the moment, with a recommendation rating of 2. 1 analysts rate the stock as a Sell, while 1 rate it as Overweight. None out of 9 have rated it as a Hold, with 7 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is $0.34.
Cerence Inc. (NASDAQ:CRNC) trade information
Sporting 6.51% in the green today, the stock has traded in the green over the last five days, with the highest price hit on Friday, Oct 16 when the CRNC stock price touched $57.95- or saw a rise of 2.07%. Year-to-date, Cerence Inc. shares have moved 150.77%, while the 5-day performance has seen it change 5.56%. Over the past 30 days, the shares of Cerence Inc. (NASDAQ:CRNC) have changed -7.87%. Short interest in the company has seen 5.58 Million shares shorted with days to cover at 0.01.
Wall Street analysts have a consensus price target for the stock at $57.83, which means that the shares’ value could jump 1.9% from current levels. The projected low price target is $29 while the price target rests at a high of $82. In that case, then, we find that the current price level is +44.49% off the targeted high while a plunge would see the stock lose -48.9% from current levels.
Cerence Inc. (CRNC) estimates and forecasts
8 analysts offering their estimates for the company have set an average revenue estimate of $79.73 Million for the current quarter. 7 have an estimated revenue figure of $82.55 Million for the next quarter concluding in December 01, 2020. Year-ago sales stood $84.05 Million and $77.7 Million respectively for this quarter and the next, and analysts expect sales will grow by -5.1% for the current quarter and 6.2% for the next.
Earnings growth for 2020 is a modest -20.8% while over the next 5 years, the company’s earnings are expected to increase by 15%.
Cerence Inc. (NASDAQ:CRNC)’s Major holders
Insiders own 0.23% of the company shares, while shares held by institutions stand at 89.34% with a share float percentage of 89.54%. Investors are also buoyed by the number of investors in a company, with Cerence Inc. having a total of 305 institutions that hold shares in the company. The top two institutional holders are Ameriprise Financial, Inc. with over 3.81 Million shares worth more than $155.75 Million. As of June 29, 2020, Ameriprise Financial, Inc. held 10.38% of shares outstanding.
The other major institutional holder is Vanguard Group, Inc. (The), with the holding of over 3.31 Million shares as of June 29, 2020. The firm’s total holdings are worth over $135.09 Million and represent 9.01% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Columbia Fds Ser Tr II-Columbia Seligman Communications & Information and Legg Mason Clearbridge Aggressive Growth Fd. As of May 30, 2020, the former fund manager holds about 7.21% shares in the company for having 2647124 shares of worth $79.18 Million while later fund manager owns 1.02 Million shares of worth $41.57 Million as of June 29, 2020, which makes it owner of about 2.77% of company’s outstanding stock.