Cerence jumps after Q4 earnings beat estimates

Cerence

29/11/2022 15:08

** Shares of Cerence Inc  CRNC.O , maker of AI-powered
assistants for autonomous vehicles, up 15.8% at $17.8
    ** Stock trading at a near two-week high
    ** CRNC reports Q4 revenue of $58.1 mln, beating analysts'
expectations of $56 mln - Refinitiv IBES data
    ** Co reports a narrower Q4 loss of 14 cents/shr on an adj
basis, beating Wall Street consensus for a loss of 23 cents/shr
    ** CRNC reports bookings of $684 mln, an increase of 16% YoY
    ** Four of 11 brokerages rate the stock "buy", and seven
"hold"; their median PT is $25
    ** Stock is down 77.3% YTD vs a 13.4% decline in the S&P 600
Small Cap Index  .SPCY 
 (Reporting by Shashwat Chauhan in Bengaluru)
 ((Shashwat.Chauhan@thomsonreuters.com))