Wells Fargo analyst Colin Langan lowered the firm’s price target on Cerence to $25 from $32 on lower growth, while keeping an Overweight rating on the shares. The firm notes Cerence’s stock traded down 2% after the company announced FY24 adjusted EBITDA guidance of about $102M at the midpoint and lowered previous 2025 and 2026 targets.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on CRNC:
- Cerence price target lowered to $23 from $35 at TD Cowen
- Cerence materially guiding down previous 2025-26 outlook, says Evercore ISI
- Cerence targets FY25 revenue excluding Legacy $310M-$330M
- Cerence (NASDAQ:CRNC) Gains on Strong Q4 Revenue Growth
- Cerence Announces Fourth Quarter and Fiscal Year 2023 Results