Shares of automotive-technology company Cerence (CRNC -2.67%) crashed on Thursday after the company announced a convertible debt offering of $150 million. The stock was down by a single-digit percentage for most of the day before falling further in late trading. It finished 16% lower.
Full Answer
Why did cerence stock crash Thursday after $150 million offering?
Feb 07, 2022 · CRNC’s stock is down performing in the past six months period by 64%. The company also sink in today’s early trading likely due to the multiple SEC filings of Form 8-K. The company also missed the estimated revenue and EPS target in its first fiscal quarter 2022 report.
Will cerence corporation need more financing to continue to grow profits?
Nov 22, 2021 · 10 stocks we like better than Cerence Inc. When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter …
Why is CRNC stock down 64% in today’s trading?
Feb 07, 2022 · It's not the first time the markets dumped Cerence stock after an earnings report, having done the same thing for similar reasons in November. Yet Cerence's prior guidance for the coming year was...
Should investors be concerned about cerence Corporation's debt restructuring?
Apr 19, 2022 · Cerence Stock is Repricing Itself marketbeat.com - February 21 at 8:53 AM: Upcoming Deadline Alert: The Schall Law Firm Encourages Investors in Cerence Inc. with Losses of $500,000 to Contact the Firm - Benzinga benzinga.com - April 18 at 5:16 PM:
Why is Cerence stock down?
Cerence stock plunged after mixed Q1 earnings, revenue guidance cut and CFO transition. Cerence (NASDAQ:CRNC) slipped 32% premarket after reporting mixed FQ1 results with FY2022 guidance cut. The company also announced retirement of CFO Mark Gallenberger on March 11, Mitch Cohen appointed as interim CFO.Feb 7, 2022
Is Cerence a good stock?
CERENCE Stock Forecast FAQ Out of 9 analysts, 1 (11.11%) are recommending CRNC as a Strong Buy, 3 (33.33%) are recommending CRNC as a Buy, 4 (44.44%) are recommending CRNC as a Hold, 1 (11.11%) are recommending CRNC as a Sell, and 0 (0%) are recommending CRNC as a Strong Sell.
Is Cerence a buy or sell?
Cerence has received a consensus rating of Hold. The company's average rating score is 2.40, and is based on 5 buy ratings, 4 hold ratings, and 1 sell rating.
Will Cerence stock go up?
Stock Price Forecast The 12 analysts offering 12-month price forecasts for Cerence Inc have a median target of 53.50, with a high estimate of 78.00 and a low estimate of 34.00. The median estimate represents a +75.81% increase from the last price of 30.43.
Who are Cerence competitors?
Top Competitors of CerenceOmilia. 121. $23 Million.Artificial Solutions. 241. $46 Million.Amelia. 274. $57 Million.Interactions. 400. $98 Million.Clinc. 100. $21 Million.Uniphore. 260. $42 Million.Haptik. 415. $78 Million.Abzooba. 113. $38 Million.
Is CRNC a buy Zacks?
See rankings and related performance below. The VGM Score are a complementary set of indicators to use alongside the Zacks Rank....Momentum Scorecard. More Info.Zacks RankDefinitionAnnualized Return1Strong Buy24.93%2Buy18.44%3Hold9.99%4Sell5.61%2 more rows
Cerence Media Sentiment
Each headline receives a score ranging from 2 (good news) to -2 (bad news). Our company news sentiment scores track the average news sentiment of articles about each company over the most recent 7 days in order to identify companies that are receiving positive press.
Media Coverage
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Cerence (NASDAQ CRNC) News Headlines Today
Sentiment refers to the positivity or negativity of each headline according to our language processing algorithm.
Who is the Boston CIO of 2021?
Bridget Collins, 2021 Corporate BostonCIO of the Year Cerence Chief Information Officer, Bridget Collins, was named 2021 BostonCIO of the Year® in the Corporate category, chosen by her CIO peers. BURLINGTON, Mass., June 24, 2021 (GLOBE NEWSWIRE) -- Cerence Inc. (NASDAQ: CRNC), AI for a world in motion, today announced that its Chief Information ...
Is Visteon a conversational AI?
Visteon will integrate Cerence conversational AI into recent SmartCore™ two-wheeler product award to deliver intuitive mobility experiencesVAN BUREN TOWNSHIP, Mich. and BURLINGTON, Mass., July 08, 2021 (GLOBE NEWSWIRE) -- Cerence Inc. (NASDAQ: CRNC), AI for a world in motion, and Visteon Corporation (NASDAQ: VC), an automotive technology leader dedicated to creating more enjoyable, connected and safe driving experiences, today announced Cerence’s conversational AI will be integrated in Visteon’s
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What happened
Shares of automotive-technology company Cerence ( NASDAQ:CRNC) crashed on Thursday after the company announced a convertible debt offering of $150 million. The stock was down by a single-digit percentage for most of the day before falling further in late trading. It finished 16% lower.
So what
Cerence reported earnings earlier in May. Revenue, according to generally accepted accounting principles ( GAAP ), was up 23% year over year. And its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA), a non-GAAP profitability number, increased 55% to $29 million.
Now what
Cerence's debt restructuring is in the best interest of the company's long-term health -- something investors should be concerned with, as well. Going forward, it will be important for Cerence to land new partnerships and continue to grow profits.
Analysis and Opinions about CRNC-Q
The world leader in car voice and A.I. that connects to third-party apps, like Starbucks, in 325 million cars worldwide, including 50% of every car sold in 2020. Shares have had a huge run, from $15 to $111 after Nuance spun it off two years ago. Yet, shares are down $20 from this year's highs.
Cerence (CRNC-Q) Rating
Stockchase rating for Cerence is calculated according to the stock experts' signals. A high score means experts mostly recommend to buy the stock while a low score means experts mostly recommend to sell the stock.
Cerence (CRNC-Q) Frequently Asked Questions
Cerence is a American stock, trading under the symbol CRNC-Q on the NASDAQ (CRNC). It is usually referred to as NASDAQ:CRNC or CRNC-Q
When is Cerence 2021?
BURLINGTON, Mass., June 01, 2021 (GLOBE NEWSWIRE) -- Cerence Inc. (NASDAQ: CRNC), AI for a world in motion, announced today that it will be presenting at the 5th Annual Needham Virtual Automotive Tech C...
What is partnership unlock?
Partnership unlocks new insights for OEMs to better serve drivers, introduce new business models and create new revenue streams Partnership unlocks new insights for OEMs to better serve drivers, introdu ...
