Zacks upgraded shares of Nuance Communications (NASDAQ:NUAN) from an underperform rating to a neutral rating in a report released on Thursday, Stock Ratings Network.com reports. Zacks currently has $16.30 price objective on the stock.
Zacks has also updated their ratings on a number of other information technology stocks in the last week. The firm downgraded shares of SolarWinds Inc from a neutral rating to an underperform rating. Their analysts now have a $34.40 price target on that stock. Also, Zacks upgraded shares of Pros Holdings Inc. from a neutral rating to an outperform rating. Zacks now has a $38.70 price target on that stock.
Nuance Communications (NASDAQ:NUAN) opened at 15.571 on Thursday. Nuance Communications has a 1-year low of $15.47 and a 1-year high of $24.85. The stock’s 50-day moving average is $17.91 and its 200-day moving average is $18.92. The company has a market cap of $4.832 billion and a price-to-earnings ratio of 145.52.
Nuance Communications (NASDAQ:NUAN) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.34 earnings per share for the quarter, beating the analysts’ 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. Analysts expect that Nuance Communications will post $1.32 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank cut their price target on shares of Nuance Communications from $25.00 to $24.00 in a research note to investors on Thursday, August 8th. Separately, analysts at Wedbush cut their price target on shares of Nuance Communications from $23.00 to $22.00 in a research note to investors on Wednesday, August 7th. Finally, analysts at Northland Capital Partners cut their price target on shares of Nuance Communications from $24.00 to $23.00 in a research note to investors on Wednesday, August 7th. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Nuance Communications has a consensus rating of Hold and an average price target of $23.35.
Nuance Communications, Inc is a provider of voice and language solutions for businesses and consumers globally.
To view Zacks’ full report, visit www.zacks.com
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