Cerence Inc (NASDAQ:CRNC) price on Thursday, April 10, fall -11.98% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $7.20.
A look at the stock’s price movement, the close in the last trading session was $8.18, moving within a range at $6.9701 and $7.82. The beta value (5-Year monthly) was 3.011. Turning to its 52-week performance, $27.50 and $2.34 were the 52-week high and 52-week low respectively. Overall, CRNC moved -28.85% over the past month.
Cerence Inc’s market cap currently stands at around $311.03 million, with investors looking forward to this quarter’s earnings report slated for on 2025-Feb-05.
Analysts have a consensus estimate of 75.34M for the company’s revenue for the quarter, with a low and high estimate of 73M and 76.03M respectively. The average forecast suggests up to a 11.08% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 241.48M, representing a -27.16% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that CRNC is a 50% Sell. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in Hold category.
11 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 6 analyst(s) rate the stock as a Hold, 3 recommend CRNC as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 2 say it is a Sell. As such, the average rating for the stock is Hold which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
CRNC’s current price about -16.47% and -33.25% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 36.85, while 7-day volatility ratio is 18.54% and 9.54% in the 30-day chart. Further, Cerence Inc (CRNC) has a beta value of 2.96, and an average true range (ATR) of 0.98. Analysts have given the company’s stock an average 52-week price target of $15, forecast between a low of $3.3 and high of $76. Looking at the price targets, the low is 54.17% off current price level while to achieve the yearly target high, price needs to move -955.56%. Nonetheless, investors will most likely welcome a -108.33% jump to $15 which is the analysts’ median price.
If we refocus on Cerence Inc (NASDAQ:CRNC), historical trading data shows that trading volumes averaged 1.37 over the past 10 days and 2.70 million over the past 3 months. The company’s latest data on shares outstanding shows there are 42.99 million shares.
The 7.53% of Cerence Inc’s shares are in the hands of company insiders while institutional holders own 77.58% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 9.18 million on 2025-03-14, giving us a short ratio of 5.79. The data shows that as of 2025-03-14 short interest in Cerence Inc (CRNC) stood at 2128.0001 of shares outstanding, with shares short rising to 8.41 million registered in 2025-02-14. Current price change has pushed the stock -8.28% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the CRNC stock continues to rise going into the next quarter.
