Cerence downgraded by Goldman Sachs with a new price target
$CRNC
Computer Software: Prepackaged Software
Technology
Goldman Sachs downgraded Cerence from Buy to Neutral and set a new price target of $44.00
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 5/10/2024 | $25.00 → $6.50 | Overweight → Equal Weight | Wells Fargo |
| 5/7/2024 | Hold | Needham | |
| 2/7/2024 | $22.00 | Buy → Hold | Craig Hallum |
| 2/9/2023 | $24.00 → $40.00 | Hold → Buy | Craig Hallum |
| 8/10/2022 | $45.00 → $24.00 | Buy → Hold | Craig Hallum |
| 8/10/2022 | Outperform → Mkt Perform | Raymond James | |
| 7/7/2022 | $28.00 → $27.00 | Underperform → Sector Perform | RBC Capital Mkts |
| 2/22/2022 | $44.00 | Buy → Neutral | Goldman Sachs |
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BURLINGTON, Mass., Jan. 06, 2025 (GLOBE NEWSWIRE) -- Cerence Inc. (NASDAQ:CRNC) ("Cerence AI" or "the Company"), a global leader in AI for transportation, announced today that it will be presenting at the 27th Annual Needham Growth Conference on Tuesday, January 14, 2025 at 12:45 p.m. Eastern Time. The fireside chat format will feature Brian Krzanich and Tony Rodriquez, Cerence AI's CEO and CFO, respectively. The presentation will be webcast and can be accessed in the "Events" tab under the "Investors" section of the Company's website at https://www.cerence.com/investors/events-and-resources. The webcast replay will be available on the Company's website at www.cerence.ai. About Cerence
BURLINGTON, Mass., Jan. 03, 2025 (GLOBE NEWSWIRE) -- Cerence Inc. (NASDAQ:CRNC) ("Cerence AI"), a global industry leader in voice AI, today announced an expanded collaboration with NVIDIA to advance the capabilities of its CaLLM™ family of language models, including its cloud-based Cerence Automotive Large Language Model (CaLLM) and its CaLLM Edge embedded small language model. Through this collaboration, CaLLM is powered by NVIDIA AI Enterprise, an end-to-end, cloud-native software platform, and some aspects of CaLLM Edge are powered by NVIDIA DRIVE AGX Orin. Integrating agentic frameworks with in-car conversations in both cloud and embedded forms requires a comprehensive, cross-discipli
BURLINGTON, Mass., Jan. 02, 2025 (GLOBE NEWSWIRE) -- Cerence Inc. (NASDAQ:CRNC) ("Cerence AI"), a global industry leader in AI for transportation, today announced a multi-year agreement with JLR to develop the luxury automotive's next-generation in-car experience. The companies will partner to leverage Cerence's AI-enabled technologies to deliver advanced intelligence and capabilities to JLR customers globally. The companies will continue to work together to expand and improve the JLR in-car experience over time. "JLR has long been synonymous with technologically advanced driving experiences, and we're proud to collaborate with this luxury automotive to further extend their reputatio
Wells Fargo downgraded Cerence from Overweight to Equal Weight and set a new price target of $6.50 from $25.00 previously
Needham resumed coverage of Cerence with a rating of Hold
Craig Hallum downgraded Cerence from Buy to Hold and set a new price target of $22.00
BURLINGTON, Mass., Dec. 03, 2024 (GLOBE NEWSWIRE) -- Cerence Inc. (NASDAQ:CRNC) ("Cerence AI"), a global industry leader in AI for transportation, today announced that it has appointed Antonio ("Tony") Rodriquez as its Chief Financial Officer (CFO), effective November 29, 2024. As Cerence AI's CFO, Mr. Rodriquez will be focused on accelerating growth, improving operating results, and driving sustainable, long-term value, leading the Company's finance organization, including accounting, tax, FP&A, treasury, facilities, and procurement. Mr. Rodriquez previously served as a partner of CSuite Financial Partners, a financial executive services firm, during which he served as Chief Financial Of
BURLINGTON, Mass., Oct. 07, 2024 (GLOBE NEWSWIRE) -- Cerence Inc. (NASDAQ:CRNC), AI for a world in motion, today announced that Brian Krzanich has been appointed Chief Executive Officer and a member of the Board of Directors, effective immediately. Mr. Krzanich succeeds Stefan Ortmanns, who is departing as CEO and resigning as a member of the Board. Mr. Krzanich is a seasoned executive with a track record of success at global public organizations. Most recently from 2018 to 2022, Mr. Krzanich served as CEO of CDK Global Inc., the leading supplier of software to the retail automotive industry. After stabilizing CDK's business, he delivered ten consecutive quarters of growth and ultimatel
BURLINGTON, Mass., June 12, 2024 (GLOBE NEWSWIRE) -- Cerence Inc. (NASDAQ:CRNC), AI for a world in motion, today announced that Jennifer Salinas, Senior Vice President & General Counsel, has been promoted to the newly created role of Executive Vice President & Chief Administrative Officer, effective June 7, 2024. A Media Snippet accompanying this announcement is available by clicking on this link. In her expanded role, Ms. Salinas will oversee the company's day-to-day administrative activities and corporate operations, including facilitating strategic planning, partnering with the leadership team to define and track company-level and functional objectives, and advancing policy and proc
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Headlines Q4 Revenue exceeds high end of guidance; positive cash flow from operations of $6.1 millionTransformation plan on track to deliver net annualized cost savings of $35-$40 millionInitial FY25 revenue guidance of $236 to $247 millionRecord high of 22 platform launches in FY24, including 6 for generative AI solutions and 4 in Q4 BURLINGTON, Mass., Nov. 21, 2024 (GLOBE NEWSWIRE) -- Cerence Inc. (NASDAQ:CRNC), AI for a world in motion, today reported its fourth quarter and fiscal year 2024 results for the year ended September 30, 2024. Results Summary (1,2)(in millions, except per share data) Three Months Ended Twelve Months Ended September 30, September 30, 2024 2023 2024
BURLINGTON, Mass., Nov. 07, 2024 (GLOBE NEWSWIRE) -- Cerence Inc. (NASDAQ:CRNC), AI for a world in motion, will announce its fourth quarter financial results for the quarter ended September 30, 2024, on Thursday, November 21, 2024, at 7:00 a.m. Eastern Time / 4:00 a.m. Pacific Time. The company will host a live conference call and webcast, with accompanying slides, to discuss the results on the same day at 8:30 a.m. Eastern Time / 5:30 a.m. Pacific Time. Interested investors and analysts are invited to join the audio conference call by registering here. Webcast access will be available in the Investor section of the company's website, www.cerence.com. To learn more about Cerence, visit
Headlines Q3 revenue in-line with guidance; positive cash flow from operations of $12.9 millionFive generative AI customer programs released to productionTransformation plans estimated to deliver net annualized cost savings of $35-40 million, predominantly realized in FY25 BURLINGTON, Mass., Aug. 08, 2024 (GLOBE NEWSWIRE) -- Cerence Inc. (NASDAQ:CRNC), AI for a world in motion, today reported its third quarter fiscal year 2024 results for the quarter ended June 30, 2024. Results Summary (1,2) (in millions, except per share data) Three Months Ended Nine Months Ended June 30, June 30, 2024 2023 2024 2023 GAAP revenue $70.5 $61.7 $276.7 $213.7 GAAP gross margin 71.5% 66.0% 75.7%