During the last session, Cerence Inc. (NASDAQ:CRNC)’s traded shares were 0.56 million. At the end of the trading day, the stock’s price was $29.18, reflecting an intraday gain of 8.19% or $2.21. The 52-week high for the CRNC share is $127.80, that puts it down -337.97 from that peak though still a striking 15.49% gain since the share price plummeted to a 52-week low of $24.66. The company’s market capitalization is $1.18B, and the average trade volume was 952.43K shares over the past three months.
Cerence Inc. (CRNC) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 1.70. CRNC has a Sell rating from 1 analyst(s) out of 12 analysts who have looked at this stock. 5 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 5 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.51.
Cerence Inc. (NASDAQ:CRNC) trade information
Cerence Inc. (CRNC) registered a 8.19% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 8.19% in intraday trading to $29.18 this Friday, 05/13/22, hitting a weekly high. The stock’s 5-day price performance is 1.60%, and it has moved by -12.42% in 30 days. Based on these gigs, the overall price performance for the year is -65.55%.
The consensus price target of analysts on Wall Street is $46.58, which implies an increase of 37.36% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $28.00 and $66.00 respectively. As a result, CRNC is trading at a discount of -126.18% off the target high and 4.04% off the low.
Cerence Inc. (CRNC) estimates and forecasts
Statistics show that Cerence Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Cerence Inc. (CRNC) shares have gone down -71.38% during the last six months, with a year-to-date growth rate less than the industry average at -26.09% against 7.00. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to shrink -13.60% this quarter and then drop -17.40% in the quarter after that. In the rating firms’ projections, revenue will increase 7.70% compared to the previous financial year.
Revenue for the current quarter is expected to be $94.48 million as predicted by 10 analyst(s). Meanwhile, a consensus of 10 analyst(s) estimates revenue growth to $100.51 million by the end of Mar 2022.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 4.00%. While earnings are projected to return 332.30% in 2022, the next five years will return 15.00% per annum.
Cerence Inc. is due to release its next quarterly earnings between February 07 and February 11. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Cerence Inc. (NASDAQ:CRNC)’s Major holders
Cerence Inc. insiders own 1.22% of total outstanding shares while institutional holders control 101.65%, with the float percentage being 102.90%. Blackrock Inc. is the largest shareholder of the company, while 465 institutions own stock in it. As of Sep 29, 2021, the company held over 4.35 million shares (or 11.11% of all shares), a total value of $418.28 million in shares.
The next largest institutional holding, with 3.71 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 9.47% of outstanding shares. At the market price on Sep 29, 2021, these shares were valued at $356.33 million.
Also, the Mutual Funds coming in first place with the largest holdings of Cerence Inc. (CRNC) shares are Franklin Custodian Funds-Dynatech Fund and Columbia Fds Ser Tr II-Columbia Seligman Technology & Information Fund. Data provided on Sep 29, 2021 indicates that Franklin Custodian Funds-Dynatech Fund owns about 1.5 million shares. This amounts to just over 3.83 percent of the company’s overall shares, with a $144.16 million market value. The same data shows that the other fund manager holds slightly less at 1.45 million, or about 3.71% of the stock, which is worth about $157.66 million.