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Morgan Stanley analyst Sanjit Singh maintained a Buy rating on Nuance Communications (NUAN) today and set a price target of $33.00. The company’s shares closed last Thursday at $29.44.
According to TipRanks.com, Singh is a 4-star analyst with an average return of 8.3% and a 50.0% success rate. Singh covers the Technology sector, focusing on stocks such as New Relic, PagerDuty, and Cloudera.
Nuance Communications has an analyst consensus of Strong Buy, with a price target consensus of $33.17, representing a 15.8% upside. In a report released today, Wedbush also maintained a Buy rating on the stock with a $33.00 price target.
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Based on Nuance Communications’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $369 million and GAAP net loss of $13.51 million. In comparison, last year the company earned revenue of $337 million and had a net profit of $77.33 million.
Based on the recent corporate insider activity of 81 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NUAN in relation to earlier this year.
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. is the pioneer in conversational AI innovations that bring intelligence to everyday work and life. It delivers solutions that understand, analyze and respond to people, amplifying human intelligence to increase productivity and security. The firm operates through the following segments: Healthcare, Enterprise, Automotive, and Other. The Healthcare segment improves clinical documentation, improve quality of care, minimize physician burnout, integrate quality measures and aid reimbursement. The Enterprise segment engages in multi-channel access to customer service from the businesses they interact with is driving demand for AI-powered omni-channel engagement solutions. The Automotive segment provides embedded and cloud-based automotive solutions. The other segment includes SRS and Devices businesses The company was founded in March 1992 and is headquartered in Burlington, MA.
