Cerence Inc [NASDAQ: CRNC] stock went on a downward path that fall over -34.31% on Thursday, amounting to a one-week price decrease of less than -35.52%.
Over the last 12 months, CRNC stock dropped by -73.01%. The one-year Cerence Inc stock forecast points to a potential upside of 64.26. The average equity rating for CRNC stock is currently 2.56, trading closer to a bullish pattern in the stock market.
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The market cap for the stock reached $261.69 million, with 40.42 million shares outstanding and 35.88 million shares in the current float. Compared to the average trading volume of 510.59K shares, CRNC stock reached a trading volume of 3900848 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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 $17.57 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 2.56. 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.
Needham have made an estimate for Cerence Inc shares, keeping their opinion on the stock as Hold, with their previous recommendation back on May 07, 2024. The new note on the price target was released on February 07, 2024, representing the official price target for Cerence Inc stock. Previously, the target price had yet another raise from $24 to $40, while Craig Hallum kept a Buy rating on CRNC stock.
The Average True Range (ATR) for Cerence Inc is set at 0.80, with the Price to Sales ratio for CRNC stock in the period of the last 12 months amounting to 0.75. The Price to Book ratio for the last quarter was 0.35, with the Price to Cash per share for the same quarter was set at 2.60. Price to Free Cash Flow for CRNC in the course of the last twelve months was 143.00 with Quick ratio for the last quarter at 1.86.
CRNC Stock Performance Analysis:
Cerence Inc [CRNC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -35.52. With this latest performance, CRNC shares dropped by -52.21% in over the last four-week period, additionally sinking by -61.96% over the last 6 months – not to mention a drop of -73.01% 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 20.81, with the RSI for the last a single of trading hit 17.43, and the three-weeks RSI is set at 23.71 for Cerence Inc [CRNC]. The present Moving Average for the last 50 days of trading for this stock 12.75, while it was recorded at 9.10 for the last single week of trading, and 18.00 for the last 200 days.
Insight into Cerence Inc Fundamentals:
Cerence Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.86 and a Current Ratio set at 1.86.
CRNC Stock EPS
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] Institutonal Ownership Details
The top three institutional holders of CRNC stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in CRNC stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in CRNC stock with ownership which is approximately 5.8386%.
