Nuance Communications Receives Consensus Rating of “Buy” from Brokerages (NASDAQ:NUAN)
Nuance Communications (NASDAQ:NUAN) has been given a consensus recommendation of “Buy” by the twelve brokerages that are currently covering the company, AnalystRatings.Net reports. Three research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $17.91.
Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of Nuance Communications from a “neutral” rating to an “outperform” rating in a research note on Tuesday, July 1st. They now have a $20.20 price target on the stock. Separately, analysts at Standpoint Research downgraded shares of Nuance Communications from a “buy” rating to a “hold” rating in a research note on Monday, June 30th. Finally, analysts at Goldman Sachs cut their price target on shares of Nuance Communications from $15.00 to $14.00 in a research note on Thursday, May 22nd.
In other Nuance Communications news, CAO Daniel David Tempesta unloaded 3,000 shares of Nuance Communications stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $18.20, for a total transaction of $54,600.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Nuance Communications (NASDAQ:NUAN) opened at 18.05 on Wednesday. Nuance Communications has a one year low of $13.00 and a one year high of $20.01. The stock’s 50-day moving average is $17.87 and its 200-day moving average is $16.23. The company’s market cap is $5.727 billion. Nuance Communications also saw a large decrease in short interest in June. As of June 30th, there was short interest totalling 21,329,686 shares, a decrease of 20.5% from the June 13th total of 26,831,280 shares. Based on an average trading volume of 5,554,424 shares, the short-interest ratio is currently 3.8 days. Currently, 6.9% of the company’s stock are sold short.
Nuance Communications (NASDAQ:NUAN) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.28 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.34 earnings per share. Nuance Communications’s revenue was up 1.2% compared to the same quarter last year. Analysts expect that Nuance Communications will post $1.14 EPS for the current fiscal year.
Nuance Communications, Inc is a provider of voice and language solutions for businesses and consumers globally.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.