In the latest trading session, 0.67 million Cerence Inc (NASDAQ:CRNC) shares changed hands as the company’s beta touched 2.36. With the company’s most recent per share price at $3.13 changing hands around $0.34 or 12.19% at last look, the market valuation stands at $130.83M. CRNC’s current price is a discount, trading about -748.24% off its 52-week high of $26.55. The share price had its 52-week low at $2.34, which suggests the last value was 25.24% up since then. When we look at Cerence Inc’s average trading volume, we note the 10-day average is 1.11 million shares, with the 3-month average coming to 1.70 million.
Analysts gave the Cerence Inc (CRNC) stock a consensus recommendation rating of Hold, calculated at a mean rating of 2.75. If we narrow down to specifics, the data shows that 2 out of 11 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 6 recommended CRNC as a Hold, 3 felt it is a Buy and 0 rated the stock as Underweight. Cerence Inc’s EPS for the current quarter is expected to be -0.37.
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Cerence Inc (NASDAQ:CRNC) trade information
Instantly CRNC is in green as seen in intraday trades today. With action 31.24%, the performance over the past five days has been green. The company’s shares are showing year-to-date downside of -84.08%, with the 5-day performance at 31.24% in the green. However, in the 30-day time frame, Cerence Inc (NASDAQ:CRNC) is 4.33% up. Looking at the short shares, we see there were 8.04 million shares sold at short interest cover period of 9.07 days.
The consensus price target for the stock as assigned by Wall Street analysts is 15, meaning bulls need an upside of 79.13% from its recent market value. According to analyst projections, CRNC’s forecast low is 3.3 with 76 as the target high. To hit the forecast high, the stock’s price needs a -2328.12% plunge from its current level, while the stock would need to soar -5.43% for it to hit the projected low.
Cerence Inc (CRNC) estimates and forecasts
Data shows that the Cerence Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -79.90% over the past 6 months, a 155.56% in annual growth rate that is considerably higher than the industry average of 9.00%. Year-over-year growth is forecast to reach 10.30% up from the last financial year.
Consensus estimates given by 8 financial analysts project the company’s revenue in the current quarter to hit an average of 48.44M. 4 analysts are of the opinion that Cerence Inc’s revenue for the current quarter will be 56.69M. The company’s revenue for the corresponding quarters a year ago was 80.8M and 132.83M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -40.00%. The estimates for the next quarter sales put growth at -57.30%.
The 2024 estimates are for Cerence Inc earnings to increase by 152.96%, but the outlook for the next 5-year period is at 15.00% per year.
CRNC Dividends
Cerence Inc is expected to release its next quarterly earnings report on 2024-Nov-25.
Cerence Inc (NASDAQ:CRNC)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 2.28% of Cerence Inc shares while 95.33% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 97.55%. There are 95.33% institutions holding the Cerence Inc stock share, with BLACKROCK INC. the top institutional holder. As of 2024-03-31, the company held 16.94% of the shares, roughly 6.98 million CRNC shares worth $109.89 million.
VANGUARD GROUP INC holds the second largest percentage of outstanding shares, with 12.9414% or 5.33 million shares worth $83.95 million as of 2024-03-31.
Among Mutual Funds, the top two as of Jul 31, 2024 were First Trust Nasdaq Artificial Intelligence & Robotics ETF and Vanguard Total Stock Market Index Fund. With 2.48 shares estimated at $7.53 million under it, the former controlled 5.94% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.88% of the shares, roughly 1.2 shares worth around $3.65 million.
