Needham analyst Rajvindra Gill assigned a Buy rating to Cerence (CRNC) today and set a price target of $95.00. The company’s shares closed last Monday at $72.53, close to its 52-week high of $79.84.
According to TipRanks.com, Gill is a 4-star analyst with an average return of 5.2% and a 59.2% success rate. Gill covers the Technology sector, focusing on stocks such as Sequans Communications S A, Smart Global Holdings, and Everspin Technologies.
Cerence has an analyst consensus of Strong Buy, with a price target consensus of $80.17, a 7.2% upside from current levels. In a report issued on November 13, Jefferies also maintained a Buy rating on the stock with a $74.00 price target.
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Cerence’s market cap is currently $2.66B and has a P/E ratio of 35.30. The company has a Price to Book ratio of -10.39.
Based on the recent corporate insider activity of 41 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 CRNC 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.
Cerence, Inc. builds automotive cognitive assistance solutions to power natural and intuitive interactions between automobiles, drivers and passengers, and the broader digital world. It also engages in the sale of software licenses and cloud-connected services. The company was founded on February 14, 2019 and is headquartered in Burlington, MA.
