Cerence Inc. [CRNC] moved up 9.94: Why It’s Important

Cerence Inc. [NASDAQ: CRNC] traded at a high on 11/16/20, posting a 9.94 gain after which it closed the day’ session at $72.53. The company report on November 16, 2020 that Cerence Inc to Host Earnings Call.

Cerence Inc (CRNC) (NASDAQ:CRNC) will be discussing their earnings results in their call to be held on November 16, 2020 at 10:00 AM Eastern Time.

To listen to the event live or access a replay of the call – visit https://www.investornetwork.com/event/presentation/71595.

The results of the trading session contributed to over 1390732 shares changing hands. Over the past one week, the price volatility of Cerence Inc. stands at 6.86% while the volatility over the past one month is 6.17%.

The market cap for CRNC stock reached $2.58 billion, with 36.51 million shares outstanding and 35.72 million shares in the current float. Compared to the average trading volume of 609.88K shares, CRNC reached a trading volume of 1390732 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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 $59.50 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 4.27, with the Price to Sales ratio for CRNC stock in the period of the last 12 months amounting to 8.03. The Price to Book ratio for the last quarter was 2.82, with the Price to Cash per share for the same quarter was set at 3.73.

How has CRNC stock performed recently?

Cerence Inc. [CRNC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 15.20. With this latest performance, CRNC shares gained by 27.81% in over the last four-week period, additionally plugging by 170.74% over the last 6 months – not to mention a rise of 367.33% in the past year of trading.

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 70.84, with the RSI for the last a single of trading hit 77.45, and the three-weeks RSI is set at 67.60 for Cerence Inc. [CRNC]. The present Moving Average for the last 50 days of trading for this stock 56.51, while it was recorded at 66.08 for the last single week of trading, and 38.19 for the last 200 days.

Cerence Inc. [CRNC]: Deeper insight into the fundamentals

Cerence Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.20.

Earnings analysis for Cerence Inc. [CRNC]

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%.

Insider trade positions for Cerence Inc. [CRNC]

There are presently around $2,694 million, in the hands of institutional investors. The top three institutional holders of CRNC stocks are: AMERIPRISE FINANCIAL INC with ownership of 3,421,554, which is approximately -10.28% of the company’s market cap and around 2.50% of the total institutional ownership; VANGUARD GROUP INC, holding 3,148,184 shares of the stock with an approximate value of $228.34 million in CRNC stocks shares; and BLACKROCK INC., currently with $194.82 million in CRNC stock with ownership of nearly -1.611% of the company’s market capitalization.

123 institutional holders increased their position in Cerence Inc. [NASDAQ:CRNC] by around 5,200,093 shares. Additionally, 122 investors decreased positions by around 7,207,443 shares, while 49 investors held positions by with 24,730,413 shares. The mentioned changes placed institutional holdings at 37,137,949 shares, according to the latest SEC report filing. CRNC stock had 56 new institutional investments in for a total of 1,644,611 shares, while 34 institutional investors sold positions of 2,981,638 shares during the same period.

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