In a report released today, Daniel Ives from Wedbush maintained a Hold rating on Cerence (CRNC – Research Report), with a price target of $21.00. The company’s shares closed yesterday at $18.58.
According to TipRanks, Ives is a 5-star analyst with an average return of 13.1% and a 57.95% success rate. Ives covers the Technology sector, focusing on stocks such as Apple, Microsoft, and Check Point.
In addition to Wedbush, Cerence also received a Hold from Craig-Hallum’s Jeff Van Rhee in a report issued today. However, on the same day, Needham maintained a Buy rating on Cerence (NASDAQ: CRNC).
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Based on Cerence’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $80.76 million and a GAAP net loss of $11.55 million. In comparison, last year the company earned a revenue of $58.14 million and had a GAAP net loss of $230.13 million
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Cerence (CRNC) Company Description:
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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