From Nasdaq:

Cerence (CRNC) has joined forces with Microsoft (MSFT) to enhance in-vehicle user experiences by integrating technology with Microsoft Azure AI Services.

Cerence is developing efficient client wins through an expanding clientele, seeing 54% global auto penetration.

Other collaborations, such as those with NVIDIA (NVDA) and China OEM Loncin Motors, further solidify Cerence’s market position.

Cerence expects Q1 2024 revenues of $128-132 million, with a 56.46% YoY growth in revenue. Non-GAAP earnings are forecast at 84-92 cents per share.

Cerence currently has a Zacks Rank #2 (Buy).

Cerence’s shares are down 37.1% year-to-date, while the Zacks Computer & Technology sector is up 7.9%.

Another top-ranked stock in the broader technology sector is Camtek (CAMT), which currently sports a Zacks Rank #1 (Strong Buy).



Read more: Cerence (CRNC) Benefits From Expanding Clientele, Partner Base