Barclays Believes Nuance Communications (NASDAQ: NUAN) Won’t Stop Here

By Ryan Adsit

Barclays analyst Saket Kalia maintained a Buy rating on Nuance Communications (NASDAQ: NUAN) on May 10 and set a price target of $22. The company’s shares closed yesterday at $19.11, close to its 52-week high of $19.93.

According to TipRanks.com, Kalia is a 4-star analyst with an average return of 7.8% and a 52.7% success rate. Kalia covers the Technology sector, focusing on stocks such as Palo Alto Networks, SecureWorks Corp, and Ellie Mae Inc.

Currently, the analyst consensus on Nuance Communications is Strong Buy and the average price target is $23.33, representing a 22.1% upside.

In a report issued on May 10, Oppenheimer also reiterated a Buy rating on the stock with a $26 price target.

Based on Nuance Communications’ latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $500 million and GAAP net loss of $33.81 million. In comparison, last year the company earned revenue of $479 million and had a GAAP net loss of $7.05 million.

Based on the recent corporate insider activity of 57 insiders, corporate insider sentiment is neutral on the stock. Most recently, in February 2017, Mark Laret, a Director at NUAN sold 15,000 shares for a total of $249,765.

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Nuance Communications, Inc. provides voice and language solutions for businesses and consumers around the world. Its solutions are used in healthcare, mobile, consumer, enterprise customer service and imaging markets. The company products are based on proprietary voice and language platform. It operates under four segments: Healthcare, Mobile, Enterprise and Imaging. The Healthcare segment provides transcription solutions and services that automate the input and management of medical information. The Mobile segment offers integrated suite of voice control and text-to-speech solutions, dictation applications, predictive text technologies, mobile messaging services and emerging services such as dictation, Web search and voicemail-to-text. The Enterprise segment offers customer service business intelligence and authentication solutions that are designed to support, understand and communicate with their customers. The Imaging segment offers optical character recognition technology to deliver document scanning and storage solutions, including networked print management and comprehensive PDF applications designed specifically for business users. The company was founded in March 1992 and is headquartered in Burlington, MA.