Investment analysts at FBR Capital Markets decreased their target price on shares of Nuance Communications (NASDAQ:NUAN) from $21.00 to $18.00 in a note issued to investors on Wednesday, Analyst Ratings.Net reports. The firm currently has a “market perform” rating on the stock. FBR Capital Markets’ target price would suggest a potential downside of 5.76% from the company’s current price.
A number of other firms have also recently commented on NUAN. Analysts at Zacks upgraded shares of Nuance Communications from an “underperform” rating to a “neutral” rating in a research note to investors on Monday, July 8th. They now have a $19.50 price target on the stock. Separately, analysts at TheStreet reiterated a “hold” rating on shares of Nuance Communications in a research note to investors on Friday, May 24th. Finally, analysts at Wedbush initiated coverage on shares of Nuance Communications in a research note to investors on Friday, May 10th. They set an “outperform” rating and a $23.00 price target on the stock.
Ten investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Nuance Communications currently has a consensus rating of “Hold” and a consensus target price of $23.97.
Nuance Communications (NASDAQ:NUAN) opened at 19.10 on Wednesday. Nuance Communications has a 1-year low of $17.90 and a 1-year high of $25.89. The stock’s 50-day moving average is currently $18.85. The company has a market cap of $6.069 billion and a price-to-earnings ratio of 40.47.
Nuance Communications (NASDAQ:NUAN) last released its earnings data on Tuesday, August 6th. The company reported $0.34 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.32 by $0.02. The company had revenue of $490.80 million for the quarter, compared to the consensus estimate of $487.64 million. During the same quarter last year, the company posted $0.45 earnings per share. Nuance Communications’s revenue was up 9.5% compared to the same quarter last year. On average, analysts predict that Nuance Communications will post $1.38 earnings per share for the current fiscal year.
In other Nuance Communications news, VP Thomas L. Beaudoin unloaded 5,000 shares of Nuance Communications stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $19.03, for a total value of $95,150.00. The sale was disclosed in a filing with the SEC, which is available at this link.
Nuance Communications, Inc is a provider of voice and language solutions for businesses and consumers globally.
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