Oppenheimer Maintains a Buy Rating on Nuance Communications (NUAN)


In a report released today, Shaul Eyal from Oppenheimer maintained a Buy rating on Nuance Communications (NASDAQ: NUAN), with a price target of $23. The company’s shares closed yesterday at $15.53.

Eyal commented:

“NUAN delivered solid F3Q18 results driven by Dragon Medical One, improved execution within its Enterprise business, and continued growth across the Automotive business. The company’s healthy YoY net new bookings growth of 7% (vs. declines in the F1H18) could suggest execution focus is back on track and normalizing. With only 100 days into Mr. Benjamin’s role as CEO we are pleased with the significant progress made so far towards changes relating to governance and capital allocation, illustrating his commitment to refreshing the company’s DNA. Subsequently, we believe further progress could be made towards simplifying the business’ long-term product strategy and overall structure. The near-term progress is encouraging so far and we’re patiently awaiting Mr. Benjamin’s business review outcome in the coming months. Outperform.”

According to TipRanks.com, Eyal is a top 100 analyst with an average return of 14.8% and a 65.9% 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 Strong Buy, with a price target consensus of $18.25.

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Based on Nuance Communications’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $14.04 million. In comparison, last year the company had a GAAP net loss of $27.84 million.

Based on the recent corporate insider activity of 48 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, Mobile, Enterprise, and Imaging. The Healthcare segment offers transcription solutions and services that automate the input and management of medical information.

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