Brokerages Set Nuance Communications Inc. (NUAN) Price Target at $20.50

Shares of Nuance Communications Inc. (NASDAQ:NUAN) have earned a consensus rating of “Buy” from the ten research firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $20.86.

Several research analysts recently weighed in on the company. Oppenheimer reissued a “buy” rating and set a $23.00 price target on shares of Nuance Communications in a research report on Tuesday, January 23rd. BidaskClub lowered Nuance Communications from a “hold” rating to a “sell” rating in a research report on Friday, January 26th. Canaccord Genuity restated a “buy” rating and issued a $21.00 target price on shares of Nuance Communications in a research note on Monday, January 22nd. TheStreet upgraded Nuance Communications from a “d+” rating to a “c-” rating in a research note on Wednesday, January 17th. Finally, Zacks Investment Research downgraded Nuance Communications from a “buy” rating to a “hold” rating in a research note on Thursday.

Nuance Communications (NUAN) opened at $16.60 on Tuesday. The firm has a market capitalization of $4,822.54, a price-to-earnings ratio of -61.48, a P/E/G ratio of 1.66 and a beta of 0.61. Nuance Communications has a 52-week low of $14.02 and a 52-week high of $19.93. The company has a current ratio of 1.46, a quick ratio of 1.19 and a debt-to-equity ratio of 1.14.

Nuance Communications (NASDAQ:NUAN) last posted its quarterly earnings results on Thursday, February 8th. The software maker reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.01. The firm had revenue of $508.80 million for the quarter, compared to analyst estimates of $508.55 million. Nuance Communications had a positive return on equity of 11.62% and a negative net margin of 3.76%. Nuance Communications’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.35 earnings per share. equities analysts predict that Nuance Communications will post 0.83 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Exane Derivatives grew its stake in Nuance Communications by 250.3% in the third quarter. Exane Derivatives now owns 8,274 shares of the software maker’s stock valued at $130,000 after purchasing an additional 5,912 shares in the last quarter. SG Americas Securities LLC purchased a new position in Nuance Communications in the third quarter valued at about $149,000. Concorde Asset Management LLC purchased a new position in Nuance Communications in the third quarter valued at about $159,000. The Manufacturers Life Insurance Company grew its stake in Nuance Communications by 8.6% in the second quarter. The Manufacturers Life Insurance Company now owns 10,234 shares of the software maker’s stock valued at $178,000 after purchasing an additional 809 shares in the last quarter. Finally, CIBC World Markets Inc. purchased a new position in Nuance Communications in the fourth quarter valued at about $176,000. Hedge funds and other institutional investors own 85.46% of the company’s stock.

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Nuance Communications Company Profile

Nuance Communications, Inc is a provider of voice recognition and natural language understanding solutions. The Company’s segments include Healthcare, Mobile, Enterprise and Imaging. The Healthcare segment provides clinical speech and clinical language understanding solutions. The solutions for the Healthcare segment include transcription solutions, Dragon Medical, and clinical document improvement (CDI) and coding solutions.

Analyst Recommendations for Nuance Communications (NASDAQ:NUAN)

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