Cerence Inc. [CRNC] moved up 0.98: Why It’s Important

Cerence Inc. [NASDAQ: CRNC] gained 0.98% on the last trading session, reaching $18.56 price per share at the time. The company report on December 14, 2022 that Cerence Enhances the Driving Experience with New Partnerships that Deliver the Most Comprehensive Catalog of Live Radio and Podcast Content.

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Cerence, the industry leader in mobility AI, teams with iHeartRadio and Radioline to deliver extensive portfolio of audio content to automakers and their drivers.

Cerence Inc. represents 39.41 million in outstanding shares, while the company has a total market value of $734.05 million with the latest information. CRNC stock price has been found in the range of $18.30 to $18.81.

If compared to the average trading volume of 498.56K shares, CRNC reached a trading volume of 382628 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $28.45 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 2.70. 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.

Raymond James have made an estimate for Cerence Inc. shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on August 10, 2022. While these analysts kept the previous recommendation, Craig Hallum dropped their target price from $45 to $24. The new note on the price target was released on August 10, 2022, representing the official price target for Cerence Inc. stock. Previously, the target price had yet another drop from $28 to $27, while RBC Capital Mkts kept a Sector Perform rating on CRNC stock. On February 22, 2022, analysts decreased their price target for CRNC shares from 53 to 44.

The Average True Range (ATR) for Cerence Inc. is set at 1.00, with the Price to Sales ratio for CRNC stock in the period of the last 12 months amounting to 2.24. The Price to Book ratio for the last quarter was 1.03, with the Price to Cash per share for the same quarter was set at 2.91.

Trading performance analysis for CRNC stock

Cerence Inc. [CRNC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.14. With this latest performance, CRNC shares gained by 11.87% in over the last four-week period, additionally sinking by -33.93% over the last 6 months – not to mention a drop of -76.48% 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 54.01, with the RSI for the last a single of trading hit 54.04, and the three-weeks RSI is set at 53.30 for Cerence Inc. [CRNC]. The present Moving Average for the last 50 days of trading for this stock 17.32, while it was recorded at 18.54 for the last single week of trading, and 24.12 for the last 200 days.

Cerence Inc. [CRNC]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Cerence Inc. [CRNC] shares currently have an operating margin of +11.69 and a Gross Margin at +66.85. Cerence Inc.’s Net Margin is presently recorded at -94.80.

Return on Equity for this stock declined to -35.63, with Return on Assets sitting at -20.37.

Cerence Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 1.50.

Cerence Inc. [CRNC]: An earnings per share (EPS) analysis

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%.

An analysis of insider ownership at Cerence Inc. [CRNC]

There are presently around $689 million, or 97.50% of CRNC stock, in the hands of institutional investors. The top three institutional holders of CRNC stocks are: BLACKROCK INC. with ownership of 6,679,044, which is approximately 0.903% of the company’s market cap and around 2.30% of the total institutional ownership; VANGUARD GROUP INC, holding 4,517,830 shares of the stock with an approximate value of $83.85 million in CRNC stocks shares; and AMERIPRISE FINANCIAL INC, currently with $56.56 million in CRNC stock with ownership of nearly -0.663% of the company’s market capitalization.

Positions in Cerence Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 91 institutional holders increased their position in Cerence Inc. [NASDAQ:CRNC] by around 3,674,535 shares. Additionally, 145 investors decreased positions by around 5,413,174 shares, while 57 investors held positions by with 28,048,893 shares. The mentioned changes placed institutional holdings at 37,136,602 shares, according to the latest SEC report filing. CRNC stock had 20 new institutional investments in for a total of 186,455 shares, while 57 institutional investors sold positions of 767,704 shares during the same period.


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