The price of Cerence Inc (NASDAQ:CRNC) shares last traded on Wall Street rose 1.61% to $15.75.
CRNC stock price is now -4.48% away from the 50-day moving average and -23.66% away from the 200-day moving average. The market capitalization of the company currently stands at $656.30M.
With the price target maintained at $22, Craig Hallum recently Downgraded its rating from Buy to Hold for Cerence Inc (NASDAQ: CRNC). On February 09, 2023, Craig Hallum Upgraded its previous ‘Hold’ rating to ‘Buy’ on the stock increasing its target price from $24 to quote $40, while ‘Raymond James’ rates the stock as ‘Mkt Perform’
In other news, Ortmanns Stefan, Chief Executive Officer sold 15,389 shares of the company’s stock on Mar 22 ’24. The stock was sold for $228,043 at an average price of $14.82. Upon completion of the transaction, the Chief Executive Officer now directly owns 537,150 shares in the company, valued at $8.46 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 21 ’24, Director BEAUDOIN THOMAS L sold 5,000 shares of the business’s stock. A total of $74,926 was realized by selling the stock at an average price of $14.99. This leaves the insider owning 257,921 shares of the company worth $4.06 million. A total of 13.99% of the company’s stock is owned by insiders.
During the past 12 months, Cerence Inc has had a low of $13.83 and a high of $36.79. As of last week, the company has a debt-to-equity ratio of 0.40, a current ratio of 1.86, and a quick ratio of 1.86. The fifty day moving average price for CRNC is $16.49 and a two-hundred day moving average price translates $20.63 for the stock.
The latest earnings results from Cerence Inc (NASDAQ: CRNC) was released for Dec, 2023. According to the Software – Application Company, earnings per share came in at $1.12, beating analysts’ expectations of $0.9 by 0.22. This compares to -$0.05 EPS in the same period last year. The net profit margin was -8.66% and return on equity was -4.17% for CRNC. The company reported revenue of $138.34 million for the quarter, compared to $83.66 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 65.36 percent. For the current quarter, analysts expect CRNC to generate $62.36M in revenue.
