CRNC Stock Summary and Trading Ideas (Cerence | NASDAQ:CRNC)

Cerence Inc is a United States-based software company. It is involved in developing mobility-based solutions for drivers and their cars. The customers include all automobile original equipment manufacturers, or OEMs, or their tier 1 suppliers. The company's revenue is generated by selling software licenses and cloud-connected services. Geographically, it derives a majority of its revenue from the United States and also has a presence in Other Americas; Germany; Other Europe, the Middle East, Africa; Japan, and Other Asia-Pacific.

Cerence trades on the NASDAQ stock market under the symbol CRNC.

As of January 17, 2025, CRNC stock price declined to $12.58 with 3,414,051 million shares trading.

CRNC has a market cap of $540.79 million. This is considered a Small Cap stock.

Last quarter Cerence reported $55 million in Revenue and -$.07 earnings per share. This beat revenue expectation by $7 million and exceeded earnings estimates by $.31.

In the last 3 years, CRNC traded as high as $72.09 and as low as $2.34.

The top ETF exchange traded funds that CRNC belongs to (by Net Assets): IWM, VTI, VGT, BOTZ, IWN.

CRNC has underperformed the market in the last year with a price return of -32.6% while the SPY ETF gained +28.0%. However, in the short term, CRNC had mixed performance relative to the market. It has outperformed in the last 3 months, returning +301.9% vs +3.0% return in SPY. But in the last 2 weeks, CRNC shares have been beat by the market, returning -34.9% compared to an SPY return of +1.0%.

CRNC support price is $11.69 and resistance is $14.05 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that CRNC shares will trade within this expected range on the day.