Nuance Communications (NUAN) Receives a Buy from Oppenheimer


Oppenheimer analyst Shaul Eyal maintained a Buy rating on Nuance Communications (NUAN) today and set a price target of $23. The company’s shares closed yesterday at $16.26.

Eyal commented:

“NUAN’s solid F1Q19 results check another box in CEO Mark Benjamin’s near- and mid-term goals. Essentially the third consecutive quarter of better-than-expected results, which has been coupled with the Imaging division sale completion last week (see note). We feel NUAN is heading in the right direction. FY19 target list is the Automotive unit spinoff (13.5% of rev), which remains on track. The end game is to focus effort on the Healthcare (~50% of rev) and Enterprise (25%) divisions as well as return more cash to shareholders. On an apples-to-apples basis NUAN exceeded F1Q19 revenue and EPS targets and has raised FY19 EPS while reiterating revenue targets (from continued operations). $23 PT.”

According to TipRanks.com, Eyal is a top 100 analyst with an average return of 15.1% and a 66.9% success rate. Eyal covers the Technology sector, focusing on stocks such as Verint Systems Inc, Varonis Systems, and Proofpoint Inc.

Nuance Communications has an analyst consensus of Moderate Buy, with a price target consensus of $17.

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Based on Nuance Communications’ latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $19.09 million. In comparison, last year the company had a net profit of $53.23 million.

Based on the recent corporate insider activity of 64 insiders, corporate insider sentiment is negative on the stock.

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Nuance Communications, Inc. engages in the provision of voice and language solutions for businesses and consumers. It operates through the following segments: Healthcare, Enterprise, Automotive, Imaging and Other.

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