Where Cerence Stands With Analysts
Portfolio Pulse from Benzinga Insights
Cerence (NASDAQ:CRNC) has received mixed analyst ratings in the last quarter, with 2 bullish, 1 somewhat bullish, and 1 indifferent rating. The average 12-month price target for Cerence is $23.0, with a high of $25.00 and a low of $19.00. This target represents a 31.85% decrease from the previous target of $33.75. Analysts determine ratings by forecasting a company's future earnings and considering the predictability of its revenue streams.
November 28, 2023 | 8:00 pm
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Cerence has received a mix of analyst ratings, with the majority being positive. The average price target has decreased significantly by 31.85% to $23.0.
The mixed analyst ratings with a majority on the positive side could provide some support to the stock price. However, the significant decrease in the average price target may reflect a negative adjustment in market expectations, which could potentially weigh on the stock in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100