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Insights Into Cerence (CRNC) Q1: Wall Street Projections for Key Metrics
Analysts on Wall Street project that Cerence (CRNC - Free Report) will announce quarterly earnings of $0.90 per share in its forthcoming report, representing an increase of 150% year over year. Revenues are projected to reach $130.89 million, increasing 56.5% from the same quarter last year.
Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
With that in mind, let's delve into the average projections of some Cerence metrics that are commonly tracked and projected by analysts on Wall Street.
Analysts predict that the 'Revenues- Connected services' will reach $53.75 million. The estimate points to a change of +192.2% from the year-ago quarter.
The average prediction of analysts places 'Revenues- License' at $57.90 million. The estimate indicates a year-over-year change of +27.5%.
Analysts expect 'Revenues- Professional services' to come in at $19.25 million. The estimate indicates a change of -3% from the prior-year quarter.
View all Key Company Metrics for Cerence here>>>
Shares of Cerence have demonstrated returns of +6.7% over the past month compared to the Zacks S&P 500 composite's +4.6% change. With a Zacks Rank #3 (Hold), CRNC is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>