NVIDIA launches Jetson Thor robotics computers for physical AI systems
Thomas L. Beaudoin, a director at Cerence Inc . (NASDAQ:CRNC), recently sold 5,000 shares of the company's common stock. The transaction, executed on January 2, 2025, was part of a pre-established Rule 10b5-1 trading plan. The sale comes as InvestingPro data shows the stock has experienced significant volatility, with a 152% surge over the past six months despite a recent 10% weekly decline. The shares were sold at a price of $7.98 each, totaling $39,900. Following this sale, Beaudoin retains ownership of 178,966 shares in the company. The transaction reflects Beaudoin's continued adherence to planned trading activities, as outlined in his trading plan adopted in December 2023. According to InvestingPro analysis, Cerence appears undervalued at its current market cap of $339 million, with analyst price targets ranging from $5 to $10. Subscribers can access 10 additional ProTips and comprehensive insider trading analysis through InvestingPro's detailed research reports.
In other recent news, Cerence Inc., a leader in artificial intelligence for transportation, has made significant strides in recent developments. The company has entered into a multi-year agreement with Jaguar Land Rover to enhance in-car experiences through advanced AI technology, aiming to develop the next generation of in-vehicle experiences. Cerence has also announced the appointment of Antonio Rodriquez as its new Chief Financial Officer, a move expected to drive growth and improve operating results.
In terms of financial performance, Cerence generated revenue of $331.5 million in the last twelve months with a robust 73.7% gross margin. Analysts at InvestingPro forecast profitability in the coming year for Cerence, signaling a potential turnaround for the company. Craig-Hallum analysts have maintained a Hold rating on the company's stock while raising the price target to $6.00.
Further, Cerence announced a strategic shift towards generative Artificial Intelligence (AI) with a goal of returning to profitability by fiscal year 2025. The company reported Q4 revenue of $54.8 million, surpassing guidance, and an adjusted EBITDA of negative $1.9 million, which was better than anticipated. These are some of the recent developments for Cerence.
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