Why Is Cerence (CRNC) Stock Surging?

July 2, 2021 8:07 AM | 1 min read | Make a Comment

Cerence Inc CRNC will replace Adtalem Global Education Inc ATGE in the S&P MidCap 400 effective July 7 before the market open.
Adtalem Global Education will replace Boston Private Financial Holdings Inc BPFH in the S&P SmallCap 600.
Cerence’s share price has gained 160% last year.
In May, the software company reported record Q2 FY21 revenue of $98.7 million, up 14% year-on-year, beating the analyst consensus by 5.6%. EPS of $0.69 beat analyst consensus by 32.7%.
Price action: CRNC shares traded higher by 9.01% at $118.35 in the premarket session on the last check Friday.