In the last trading session, 5.01 million shares of the Cerence Inc (NASDAQ:CRNC) were traded, and its beta was 2.32. Most recently the company’s share price was $3.75, and it changed around -$0.05 or -1.32% from the last close, which brings the market valuation of the company to $156.75M. CRNC currently trades at a discount to its 52-week high of $21.67, offering almost -477.87% off that amount. The share price’s 52-week low was $2.34, which indicates that the current value has risen by an impressive 37.6% since then. We note from Cerence Inc’s average daily trading volume that its 10-day average is 2.82 million shares, with the 3-month average coming to 1.35 million.

Cerence Inc stock received a consensus recommendation rating of Hold, based on a mean score of 2.75. If we narrow it down even further, the data shows that 0 out of 8 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 7 recommended CRNC as a Hold, whereas 1 deemed it a Buy, and 0 rated it as Underweight. Cerence Inc is expected to report earnings per share of -0.38 for the current quarter.

Cerence Inc (NASDAQ:CRNC) trade information

Instantly CRNC has showed a red trend with a performance of -1.32% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 4.09 on recent trading dayincreased the stock’s daily price by 8.31%. The company’s shares are currently down -80.93% year-to-date, but still up 26.26% over the last five days. On the other hand, Cerence Inc (NASDAQ:CRNC) is 27.55% up in the 30-day period. We can see from the shorts that 6.42 million shares have been sold at a short interest cover period of 6.28 day(s).

The consensus price target as assigned by Wall Street analysts is $15, which translates to bulls needing to increase their stock price by 75.0% from its current value. Analyst projections state that CRNC is forecast to be at a low of $3.3 and a high of $76.

Cerence Inc (CRNC) estimates and forecasts

Cerence Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -73.96 percent over the past six months and at a 155.56% annual growth rate that is well above the industry average of 15.30%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -522.20% in revenue this quarter, and will report a decrease of -103.60% in the next quarter. The year-over-year growth rate is expected to be 10.20%, up from the previous year.

Consensus estimates provided by 8 financial analysts predict the company will bring in an average of 47.71M in revenue for the current quarter. 5 analysts expect Cerence Inc to make 55.39M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 80.8M and 132.83M respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -41.00%. Forecasts for the next quarter put sales growth at -58.30%.

Cerence Inc earnings are expected to increase by 152.96% in 2024, but the outlook is positive 15.00% per year for the next five years.

CRNC Dividends

Cerence Inc’s next quarterly earnings report is expected to be released in November.

Cerence Inc (NASDAQ:CRNC)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 3.35% of Cerence Inc shares, and 92.97% of them are in the hands of institutional investors. The stock currently has a share float of 96.19%. Cerence Inc stock is held by 271.0 institutions, with VANGUARD GROUP INC being the largest institutional investor. By 2024-06-30, it held 9.5398% of the shares, which is about 3.98 million shares worth $11.26 million.

AMERICAN CAPITAL MANAGEMENT INC, with 9.2977% or 3.88 million shares worth $10.98 million as of 2024-06-30, holds the second largest percentage of outstanding shares.