In last trading session, Cerence Inc. (NASDAQ:CRNC) saw 0.31 million shares changing hands with its beta currently measuring 0. Company’s recent per share price level of $100.08 trading at -$5.35 or -5.07% at ring of the bell on the day assigns it a market valuation of $3.84B. That closing price of CRNC’s stock is at a discount of -38.89% from its 52-week high price of $139.00 and is indicating a premium of 53.78% from its 52-week low price of $46.26. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.26 million shares which gives us an average trading volume of 553.31K if we extend that period to 3-months.
For Cerence Inc. (CRNC), analysts’ consensus is at an average recommendation of an Overweight while assigning it a mean rating of 2.00. Splitting up the data highlights that, out of 12 analysts covering the stock, 0 rated the stock as a Sell while 1 recommended an Overweight rating for the stock. 3 suggested the stock as a Hold whereas 8 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $0.54 in the current quarter.
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Upright in the red during last session for losing -5.07%, in the last five days CRNC remained trading in the red while hitting it’s week-highest on Friday, 09/03/21 when the stock touched $100.08 price level, adding 12.12% to its value on the day. Cerence Inc.’s shares saw a change of -0.40% in year-to-date performance and have moved -11.21% in past 5-day. Cerence Inc. (NASDAQ:CRNC) showed a performance of -16.56% in past 30-days. Number of shares sold short was 4.81 million shares which calculate 5.81 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $136.18 to the stock, which implies a rise of 26.51% to its current value. Analysts have been projecting $113.00 as a low price target for the stock while placing it at a high target of $165.00. It follows that stock’s current price would drop -64.87% in reaching the projected high whereas dropping to the targeted low would mean a loss of -12.91% for stock’s current value.
Cerence Inc. (CRNC) estimates and forecasts
Statistics highlight that Cerence Inc. is scoring comparatively higher than the scores of other players of the relevant industry. The company lost -10.91% of value to its shares in past 6 months, showing an annual growth rate of 46.43% while that of industry is 4.60. Apart from that, the company came raising its revenue forecast for fiscal year 2021. The company is estimating its revenue growth to increase by 74.20% in the current quarter and calculating -4.90% decrease in the next quarter. This year revenue growth is estimated to rise 18.40% from the last financial year’s standing.
11 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $95.96 million for the same. And 11 analysts are in estimates of company making revenue of $99.96 million in the next quarter that will end on Sep 2021.
In 2021, company’s earnings growth rate is likely to be around -120.60% while estimates for its earnings growth in next 5 years are of 15.00%.
Cerence Inc. is more likely to be releasing its next quarterly report on May 10 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Cerence Inc. (NASDAQ:CRNC)’s Major holders
Insiders are in possession of 0.66% of company’s total shares while institution are holding 101.57 percent of that, with stock having share float percentage of 102.25%. Investors also watch the number of corporate investors in a company very closely, which is 101.57% institutions for Cerence Inc. that are currently holding shares of the company. Vanguard Group, Inc. (The) is the top institutional holder at CRNC for having 3.62 million shares of worth $386.1 million. And as of Jun 29, 2021, it was holding 9.52% of the company’s outstanding shares.
The second largest institutional holder is Blackrock Inc., which was holding about 3.0 million shares on Jun 29, 2021. The number of shares represents firm’s hold over 7.89% of outstanding shares, having a total worth of $320.12 million.
On the other hand, Columbia Fds Ser Tr II-Columbia Seligman Technology & Information Fund and Franklin Custodian Funds-Dynatech Fund are the top two Mutual Funds which own company’s shares. As of May 30, 2021, the former fund manager was holding 1.53 million shares of worth $145.09 million or 4.01% of the total outstanding shares. The later fund manager was in possession of 1.5 million shares on Mar 30, 2021, making its stake of worth around $134.37 million in the company or a holder of 3.95% of company’s stock.