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 $16.27.
Eyal noted:
“NUAN’s F4Q18 results exceeded expectations, but it is the strategic process NUAN is embarking upon which will be receiving most attention in coming months. Last week NUAN announced the sale of its Imaging division for $400M to privately held Kofax and last night NUAN announced plans to spin out (tax free) the Automotive division (13% of revenue) to shareholders and wind down its SRS and Device operations. The end game is to simplify the corporate structure and focus efforts on the Healthcare (50% of revenue) and Enterprise (25% of revenue) divisions as well as return more cash to shareholders. We note that both the Imaging and Automotive divisions are still included in our FY19 model which is subject to review as these deals finalize.”
According to TipRanks.com, Eyal is a top 100 analyst with an average return of 14.7% and a 67.0% success rate. Eyal covers the Technology sector, focusing on stocks such as Proofpoint Inc, Nice-Systems, and Mimecast Ltd.
Nuance Communications has an analyst consensus of Moderate Buy, with a price target consensus of $22.50.
See today’s analyst top recommended stocks >>
Based on Nuance Communications’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $35.07 million. In comparison, last year the company had a GAAP net loss of $65.42 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Nuance Communications, Inc. engages in the provision of voice and language solutions for businesses and consumers. It operates through the following segments: Healthcare, Mobile, Enterprise, and Imaging. The Healthcare segment offers transcription solutions and services that automate the input and management of medical information.
