Wedbush Remains a Buy on Nuance Communications (NUAN)

By Carrie Williams

In a report released today, Daniel Ives from Wedbush reiterated a Buy rating on Nuance Communications (NUANResearch Report), with a price target of $22. The company’s shares closed yesterday at $16.75.

According to TipRanks.com, Ives is a 4-star analyst with an average return of 6.6% and a 58.5% success rate. Ives covers the Technology sector, focusing on stocks such as Pivotal Software Inc, Tenable Holdings Inc, and Verint Systems Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Nuance Communications with a $22.50 average price target, a 34.3% upside from current levels. In a report released today, Oppenheimer also maintained a Buy rating on the stock with a $23 price target.

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Based on Nuance Communications’ latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $19.09 million. In comparison, last year the company had a GAAP net loss of $164 million.

Based on the recent corporate insider activity of 80 insiders, corporate insider sentiment is negative on the stock.

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Nuance Communications, Inc. engages in the provision of voice and language solutions for businesses and consumers. It operates through the following segments: Healthcare, Enterprise, Automotive, Imaging and Other.