During the last session, Cerence Inc (NASDAQ:CRNC)’s traded shares were 26.76 million, with the beta value of the company hitting 2.34. At the end of the trading day, the stock’s price was $5.26, reflecting an intraday gain of 86.52% or $2.44. The 52-week high for the CRNC share is $21.67, that puts it down -311.98 from that peak though still a striking 55.51% gain since the share price plummeted to a 52-week low of $2.34. The company’s market capitalization is $219.89M, and the average intraday trading volume over the past 10 days was 0.86 million shares, and the average trade volume was 1.44 million shares over the past three months.
Cerence Inc (CRNC) received a consensus recommendation of Hold from analysts. That translates to a mean rating of 2.50. CRNC has a Sell rating from 2 analyst(s) out of 11 analysts who have looked at this stock. 6 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 3 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 -0.06.
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Cerence Inc (NASDAQ:CRNC) trade information
Cerence Inc (CRNC) registered a 86.52% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 86.52% in intraday trading to $5.26, hitting a weekly high. The stock’s 5-day price performance is 67.51%, and it has moved by 84.56% in 30 days. Based on these gigs, the overall price performance for the year is -68.77%. The short interest in Cerence Inc (NASDAQ:CRNC) is 6.56 million shares and it means that shorts have 3.71 day(s) to cover.
The consensus price target of analysts on Wall Street is $15, which implies an increase of 64.93% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $3.3 and $76 respectively. As a result, CRNC is trading at a discount of -1344.87% off the target high and 37.26% off the low.
Cerence Inc (CRNC) estimates and forecasts
Statistics show that Cerence Inc has outperformed its competitors in share price, compared to the industry in which it operates. Cerence Inc (CRNC) shares have gone up 49.85% during the last six months, with a year-to-date growth rate more than the industry average at 155.56% against 12.60. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -105.10% this quarter and then jump 85.71% in the quarter after that. In the rating firms’ projections, revenue will decrease -29.38% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 55.69M as predicted by 6 analyst(s). Meanwhile, a consensus of 6 analyst(s) estimates revenue growth to 57.28M by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 138.34M and 67.83M respectively. In this case, analysts expect current quarter sales to shrink by -59.74% and then drop by -15.54% in the coming quarter.
While earnings are projected to return -101.90% in 2024, the next five years will return 15.00% per annum.
CRNC Dividends
Cerence Inc is due to release its next quarterly earnings in December. 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 5.74% of total outstanding shares while institutional holders control 83.41%, with the float percentage being 88.49%. VANGUARD GROUP INC is the largest shareholder of the company, while 234.0 institutions own stock in it. As of 2024-06-30, the company held over 3.98 million shares (or 9.5398% of all shares), a total value of $11.26 million in shares.
The next largest institutional holding, with 3.88 million shares, is of AMERICAN CAPITAL MANAGEMENT INC’s that is approximately 9.2977% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $10.98 million.
Also, the Mutual Funds coming in first place with the largest holdings of Cerence Inc (CRNC) shares are Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. Data provided on Jun 30, 2024 indicates that Vanguard Total Stock Market Index Fund owns about 1.27 shares. This amounts to just over 3.04 percent of the company’s overall shares, with a $6.34 million market value. The same data shows that the other fund manager holds slightly less at 1.11, or about 2.66% of the stock, which is worth about $5.54 million.
