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Nuance Communications (NASDAQ:NUAN) was upgraded by analysts at Standpoint Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, reports.

Nuance Communications (NASDAQ:NUAN) traded up 0.39% on Friday, hitting $15.26. The stock had a trading volume of 1,607,238 shares. Nuance Communications has a 52 week low of $13.00 and a 52 week high of $20.01. The stock’s 50-day moving average is $16.25 and its 200-day moving average is $15.5. The company’s market cap is $4.831 billion. Nuance Communications also was the recipient of a significant decline in short interest in April. As of April 30th, there was short interest totalling 32,270,858 shares, a decline of 4.7% from the April 15th total of 33,875,884 shares. Approximately 10.5% of the company’s shares are sold short. Based on an average daily trading volume, of 2,506,898 shares, the short-interest ratio is presently 12.9 days.

Nuance Communications (NASDAQ:NUAN) last announced its earnings results on Thursday, May 8th. The company reported $0.28 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.23 by $0.05. The company had revenue of $475.70 million for the quarter, compared to the consensus estimate of $484.17 million. During the same quarter in the prior year, the company posted $0.34 earnings per share. The company’s quarterly revenue was up 1.2% on a year-over-year basis. On average, analysts predict that Nuance Communications will post $1.14 earnings per share for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at Wedbush raised their price target on shares of Nuance Communications from $15.00 to $16.00 in a research note on Friday, May 9th. Separately, analysts at Canaccord Genuity reiterated a “buy” rating on shares of Nuance Communications in a research note on Friday, May 9th. They now have a $20.00 price target on the stock, down previously from $22.00. Finally, analysts at Zacks downgraded shares of Nuance Communications from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $18.14.

Nuance Communications, Inc is a provider of voice and language solutions for businesses and consumers globally.

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