In a report released today, Rajvindra Gill from Needham maintained a Buy rating on Cerence (CRNC – Research Report), with a price target of $40.00. The company’s shares opened today at $21.05.
According to TipRanks, Gill is a 5-star analyst with an average return of 8.5% and a 57.52% success rate. Gill covers the Technology sector, focusing on stocks such as Nvidia, Cirrus Logic, and Microchip.
Cerence has an analyst consensus of Moderate Buy, with a price target consensus of $24.40.
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CRNC market cap is currently $862.4M and has a P/E ratio of -2.68.
Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying 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.
Read More on CRNC:
- Cerence announces BYD to deploy its conversational AI in BYD EVs worldwide
- Cerence announces continued strategic partnership with what3words
- Cerence to Present at the 25th Annual Needham Growth Conference
- Cerence enters partnerships with iHeartMedia, Radioline
- Cerence to Present at the Raymond James Technology Investors Conference
