Long Position on CRNC @ $100.75 on 12/21/2020 (Momentum)

Cerence Inc. (CRNC) provides AI-powered assistants and innovations for connected and autonomous vehicles It offers edge software components; cloud-connected components; toolkits; applications; and virtual assistant coexistence and professional services.

The company also provides conversational artificial intelligence, including voice recognition, natural language understanding, and artificial intelligence services. Cerence Inc. is headquartered in Burlington, Massachusetts.

Cerence Inc. reported Quarter September 2020 earnings of $0.57 per share on revenue of $90.9 million. The consensus earnings estimate was $0.34 per share on revenue of $79.1 million.

The company said it expects first quarter revenue of $85.0 million to $90.0 million and fiscal revenue of $360.0 million to $380.0 million. The current consensus revenue estimate is $81.41 million for the quarter ending December 31, 2020 and revenue of $353.91 million for the year ending September 30, 2021.

Entry Point: $100.75

Trading Range: $11.39 - $103.08

Stop Loss: $95.75

Target Price: $110.80

Updates

1/7/2021 11:37:45 AM

CRNC closed at $111.10.

Position closed on 1/7/2021 at price of $111.10 with a 10.27% gain in 17 days.

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