Cerence Inc [CRNC] stock prices are up 1.61% to $15.75 at the moment. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The CRNC shares have gain 4.72% over the last week, with a monthly amount glided 7.66%, and seem to be holding up well over a long-time horizon.
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On 21, March 2024, Cerence Engages First Automaker Customers for CaLLM™, Its Pioneering Automotive Large Language Model. In a post published today on Yahoo Finance, Cerence Inc. (NASDAQ: CRNC), AI for a world in motion, today announced early momentum for CaLLM™ (Cerence Automotive Large Language Model), its automotive-specific LLM that serves as the foundation for Cerence’s next-generation in-car computing platform. Cerence is working with three major global automakers as the first customers for its NVIDIA technology-powered solution.
From an analyst’s perspective:
Cerence Inc [NASDAQ: CRNC] stock has seen the most recent analyst activity on February 07, 2024, when Craig Hallum downgraded its rating to a Hold but kept the price target unchanged to $22 for it. Previously, Craig Hallum upgraded its rating to Buy on February 09, 2023, and elevated its price target to $40. On August 10, 2022, downgrade downgraded it’s rating to Mkt Perform. Craig Hallum downgraded its rating to a Hold and decreased its price target to $24 on August 10, 2022. RBC Capital Mkts upgraded its rating to a Sector Perform and reduced its price target to $27 on July 07, 2022. Goldman downgraded its rating to Neutral for this stock on February 22, 2022, and downed its price target to $44. In a note dated February 14, 2022, Evercore ISI downgraded an In-line rating on this stock and revised its target price from $150 to $55.
The stock price of Cerence Inc [CRNC] has been fluctuating between $13.83 and $36.79 over the past year. Currently, Wall Street analysts expect the stock to reach $53 within the next 12 months. Cerence Inc [NASDAQ: CRNC] shares were valued at $15.75 at the most recent close of the market. An investor can expect a potential return of 236.51% based on the average CRNC price forecast.
Analyzing the CRNC fundamentals
The Cerence Inc [NASDAQ:CRNC] reported sales of 349.15M for trailing twelve months, representing a surge of 65.36%. Gross Profit Margin for this corporation currently stands at 0.73% with Operating Profit Margin at 0.11%, Pretax Profit Margin comes in at 0.07%, and Net Profit Margin reading is -0.09%. To continue investigating profitability, this company’s Return on Assets is posted at -0.02, Equity is -0.04 and Total Capital is 0.03. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.4.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 15.53 points at the first support level, and at 15.31 for the second support level. However, for the 1st resistance point, the stock is sitting at 15.92, and for the 2nd resistance point, it is at 16.09.
Cerence Inc [CRNC] reported earnings per share of $1.12 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.9/share, meaning a difference of $0.22 and a surprise factor of 24.40%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.09 per share as compared to estimates of $0.15 per share, a difference of -$0.06 representing a surprise of -40.00%.
Ratios To Look Out For
It’s worth pointing out that Cerence Inc [NASDAQ:CRNC]’s Current Ratio is 1.86. As well, the Quick Ratio is 1.86, while the Cash Ratio is 0.82. Considering the valuation of this stock, the price to sales ratio is 1.88, the price to book ratio is 0.89.
Transactions by insiders
Recent insider trading involved Ortmanns Stefan, Chief Executive Officer, that happened on Mar 22 ’24 when 15389.0 shares were sold. Director, BEAUDOIN THOMAS L completed a deal on Mar 21 ’24 to sell 5000.0 shares. Meanwhile, Chief Executive Officer Ortmanns Stefan sold 21446.0 shares on Mar 14 ’24.
