Wedbush Remains Neutral On Nuance Communications Following F4Q Results
Wedbush analyst Shyam Patil maintained a Neutral rating on Nuance Communications (NASDAQ:NUAN) with a price target of $16, which represents a slight upside potential from current levels.
Patil noted, “Nuance reported a generally solid F4Q (September quarter) and adjusted FY15 expectations to more achievable levels. While we are becoming more optimistic, we are maintaining our NEUTRAL, as we would like further confirmation that the underlying fundamentals remain healthy. We believe that shifting investor focus toward bookings, recurring revenue and cash flow and continued execution on these key metrics are likely the main catalysts for the stock.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Shyam Patil has a total average return of 5.1% and a 56.3% success rate. Patil has a -27.8% average return when recommending NUAN, and is ranked #1509 out of 3385 analysts.
Additionally, Wedbush and Deutsche Bank have also recently released research reports on WDAY reiterating Neutral and Buy ratings, respectively.