Wall Street analysts forecast that Cerence (CRNC - Free Report) will report quarterly earnings of $0.13 per share in its upcoming release, pointing to a year-over-year increase of 192.9%. It is anticipated that revenues will amount to $74 million, exhibiting an increase of 27.3% compared to the year-ago quarter.
The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Bearing this in mind, let's now explore the average estimates of specific Cerence metrics that are commonly monitored and projected by Wall Street analysts.
The consensus estimate for 'Revenues- Connected services' stands at $20.18 million. The estimate indicates a year-over-year change of +11.5%.
The average prediction of analysts places 'Revenues- License' at $32.15 million. The estimate points to a change of +69.2% from the year-ago quarter.
It is projected by analysts that the 'Revenues- Professional services' will reach $21.61 million. The estimate indicates a year-over-year change of +2.7%.
View all Key Company Metrics for Cerence here>>>
Shares of Cerence have experienced a change of +10.4% in the past month compared to the +7.9% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), CRNC is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Wall Street analysts forecast that Cerence (CRNC - Free Report) will report quarterly earnings of $0.13 per share in its upcoming release, pointing to a year-over-year increase of 192.9%. It is anticipated that revenues will amount to $74 million, exhibiting an increase of 27.3% compared to the year-ago quarter.
The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Bearing this in mind, let's now explore the average estimates of specific Cerence metrics that are commonly monitored and projected by Wall Street analysts.
The consensus estimate for 'Revenues- Connected services' stands at $20.18 million. The estimate indicates a year-over-year change of +11.5%.
The average prediction of analysts places 'Revenues- License' at $32.15 million. The estimate points to a change of +69.2% from the year-ago quarter.
It is projected by analysts that the 'Revenues- Professional services' will reach $21.61 million. The estimate indicates a year-over-year change of +2.7%.
View all Key Company Metrics for Cerence here>>>
Shares of Cerence have experienced a change of +10.4% in the past month compared to the +7.9% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), CRNC is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Top 5 ChatGPT Stocks Revealed
Zacks Senior Stock Strategist, Kevin Cook names 5 hand-picked stocks with sky-high growth potential in a brilliant sector of Artificial Intelligence. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
Today you can invest in the wave of the future, an automation that answers follow-up questions … admits mistakes … challenges incorrect premises … rejects inappropriate requests. As one of the selected companies puts it, “Automation frees people from the mundane so they can accomplish the miraculous.”
Download Free ChatGPT Stock Report Right Now >>
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