In the last trading session, 7.96 million shares of the Cerence Inc (NASDAQ:CRNC) were traded, and its beta was 2.86. Most recently the company’s share price was $14.48, and it changed around $1.74 or 13.66% from the last close, which brings the market valuation of the company to $625.52M. CRNC currently trades at a discount to its 52-week high of $27.50, offering almost -89.92% off that amount. The share price’s 52-week low was $2.34, which indicates that the current value has risen by an impressive 83.84% since then. We note from Cerence Inc’s average daily trading volume that its 10-day average is 3.89 million shares, with the 3-month average coming to 8.50 million.
Cerence Inc stock received a consensus recommendation rating of Hold, based on a mean score of 2.43. If we narrow it down even further, the data shows that 0 out of 7 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 5 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 0.27 for the current quarter.
Cerence Inc (NASDAQ:CRNC) trade information
Instantly CRNC has showed a green trend with a performance of 13.66% 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 14.83 on recent trading dayincreased the stock’s daily price by 2.36%. The company’s shares are currently up 84.46% year-to-date, but still up 16.21% over the last five days. On the other hand, Cerence Inc (NASDAQ:CRNC) is -23.67% down in the 30-day period. We can see from the shorts that 6.56 million shares have been sold at a short interest cover period of 3.71 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 3.47% 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
The year-over-year growth rate is expected to be -26.76%, down from the previous year.
Consensus estimates provided by 6 financial analysts predict the company will bring in an average of 72.66M in revenue for the current quarter. 6 analysts expect Cerence Inc to make 58.14M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 67.83M and 70.54M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 7.14%. Forecasts for the next quarter put sales growth at -17.57%.
Cerence Inc earnings are expected to increase by -87.92% in 2025, but the outlook is negative -20.56% per year for the next five years.
CRNC Dividends
Cerence Inc’s next quarterly earnings report is expected to be released in March.
Cerence Inc (NASDAQ:CRNC)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 5.74% of Cerence Inc shares, and 83.41% of them are in the hands of institutional investors. The stock currently has a share float of 88.49%. Cerence Inc stock is held by 234.0 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.
Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF were the top two Mutual Funds as of Sep 30, 2024 . The former held 1.27 shares worth $18.43 million, making up 2.96% of all outstanding shares. On the other hand, iShares Russell 2000 ETF held roughly 1.19 shares worth around $17.27 million, which represents about 2.78% of the total shares outstanding.
