Raymond James Maintains a Buy Rating on Cerence (CRNC)


In a report released today, Brian Gesuale from Raymond James maintained a Buy rating on Cerence (CRNC). The company’s shares closed last Monday at $120.76, close to its 52-week high of $129.09.

According to TipRanks.com, Gesuale is a 5-star analyst with an average return of 21.8% and a 74.5% success rate. Gesuale covers the Technology sector, focusing on stocks such as L3Harris Technologies, Caci International, and Roper Technologies.

Cerence has an analyst consensus of Moderate Buy, with a price target consensus of $100.56.

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Based on Cerence’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $90.88 million and net profit of $6.82 million. In comparison, last year the company earned revenue of $82.96 million and had a net profit of $95.79 million.

Based on the recent corporate insider activity of 53 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.

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