CerenceCRNC
Market Cap: $122M
About: Cerence Inc is a United States-based software company. It is involved in developing mobility-based solutions for drivers and their cars. The customers include all automobile original equipment manufacturers, or OEMs, or their tier 1 suppliers. The company's revenue is generated by selling software licenses and cloud-connected services. Geographically, it derives a majority of its revenue from the United States and also has a presence in Other Americas; Germany; Other Europe, the Middle East, Africa; Japan, and Other Asia-Pacific.
Employees: 1,700
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
4% less first-time investments, than exits
New positions opened: 54 | Existing positions closed: 56
1% less funds holding
Funds holding: 186 [Q1] → 184 (-2) [Q2]
9.77% less ownership
Funds ownership: 99.23% [Q1] → 89.46% (-9.77%) [Q2]
23% less repeat investments, than reductions
Existing positions increased: 41 | Existing positions reduced: 53
82% less call options, than puts
Call options by funds: $1M | Put options by funds: $5.7M
84% less capital invested
Capital invested by funds: $655M [Q1] → $106M (-$549M) [Q2]
100% less funds holding in top 10
Funds holding in top 10: 1 [Q1] → 0 (-1) [Q2]
Research analyst outlook
5 Wall Street Analysts provided 1 year price targets over the past 3 months
5 analyst ratings
TD Cowen Jeff Osborne 50% 1-year accuracy 1 / 2 met price target | 242%upside $10 | Buy Maintained | 9 Aug 2024 |
Wells Fargo Colin Langan 20% 1-year accuracy 5 / 25 met price target | 13%upside $3.30 | Equal-Weight Maintained | 9 Aug 2024 |
Evercore ISI Group Chris McNally 17% 1-year accuracy 1 / 6 met price target | 71%upside $5 | In-Line Maintained | 15 Jul 2024 |
Baird Luke Junk 45% 1-year accuracy 5 / 11 met price target | 105%upside $6 | Neutral Maintained | 12 Jul 2024 |
Goldman Sachs Mark Delaney 66% 1-year accuracy 19 / 29 met price target | 3%upside $3 | Neutral Maintained | 10 Jul 2024 |
Financial journalist opinion
Based on 5 articles about CRNC published over the past 30 days