Cerence Inc. [CRNC] Stock trading around $54.42 per share: What’s Next?

Cerence Inc. [NASDAQ: CRNC] price surged by 7.72 percent to reach at $3.9. The company report on August 4, 2020 that Cerence Announces Third Quarter 2020 Results.

Third Quarter Highlights.

Cerence Inc. (NASDAQ: CRNC), AI for a world in motion, today reported its third fiscal quarter 2020 results for the quarter ended June 30, 2020.

A sum of 1883837 shares traded at recent session while its average daily volume was at 1.19M shares. Cerence Inc. shares reached a high of $55.69 and dropped to a low of $52.71 until finishing in the latest session at $54.42.

The one-year CRNC stock forecast points to a potential downside of -38.65. The average equity rating for CRNC stock is currently 2.00, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Cerence Inc. [CRNC]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CRNC shares is $39.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CRNC stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

RBC Capital Mkts have made an estimate for Cerence Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on July 01, 2020. While these analysts kept the previous recommendation, Jefferies raised their target price to Buy. The new note on the price target was released on June 08, 2020, representing the official price target for Cerence Inc. stock.

The Average True Range (ATR) for Cerence Inc. is set at 3.23, with the Price to Sales ratio for CRNC stock in the period of the last 12 months amounting to 6.20. The Price to Book ratio for the last quarter was 2.12, with the Price to Cash per share for the same quarter was set at 2.59.

CRNC Stock Performance Analysis:

Cerence Inc. [CRNC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 36.66. With this latest performance, CRNC shares gained by 32.63% in over the last four-week period, additionally plugging by 164.43% over the last 6 months .

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CRNC stock in for the last two-week period is set at 77.03, with the RSI for the last a single of trading hit 85.38, and the three-weeks RSI is set at 72.57 for Cerence Inc. [CRNC]. The present Moving Average for the last 50 days of trading for this stock 39.71, while it was recorded at 45.25 for the last single week of trading, and 24.80 for the last 200 days.

Insight into Cerence Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Cerence Inc. [CRNC] shares currently have an operating margin of +11.93 and a Gross Margin at +62.57. Cerence Inc.’s Net Margin is presently recorded at +33.06.

Return on Total Capital for CRNC is now 3.51, given the latest momentum, and Return on Invested Capital for the company is 9.73. Return on Equity for this stock inclined to 9.73, with Return on Assets sitting at 6.93.

Reflecting on the efficiency of the workforce at the company, Cerence Inc. [CRNC] managed to generate an average of $71,620 per employee. Receivables Turnover for the company is 4.12 with a Total Asset Turnover recorded at a value of 0.21.Cerence Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.20.

CRNC Stock EPS

With the latest financial reports released by the company, Cerence Inc. posted 0.34/share EPS, while the average EPS was predicted by analysts to be reported at 0.48/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -29.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CRNC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Cerence Inc. go to 15.00%.

Cerence Inc. [CRNC] Insider Position Details

There are presently around $1,884 million, or 89.34% of CRNC stock, in the hands of institutional investors. The top three institutional holders of CRNC stocks are: AMERIPRISE FINANCIAL INC with ownership of 3,548,859, which is approximately 6.318% of the company’s market cap and around 2.40% of the total institutional ownership; VANGUARD GROUP INC, holding 3,160,528 shares of the stock with an approximate value of $172.0 million in CRNC stocks shares; and CLEARBRIDGE INVESTMENTS, LLC, currently with $163.75 million in CRNC stock with ownership of nearly 2.946% of the company’s market capitalization.

Positions in Cerence Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 117 institutional holders increased their position in Cerence Inc. [NASDAQ:CRNC] by around 10,139,098 shares. Additionally, 127 investors decreased positions by around 6,194,216 shares, while 43 investors held positions by with 18,280,309 shares. The mentioned changes placed institutional holdings at 34,613,623 shares, according to the latest SEC report filing. CRNC stock had 51 new institutional investments in for a total of 6,490,412 shares, while 60 institutional investors sold positions of 4,204,751 shares during the same period.

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