Nuance (NUAN) Bullish Stance Reiterated at Oppenheimer on Better Q3

Oppenheimer analyst Shaul Eyal reiterated an Outperform rating and $22 price target on Nuance Communications (NASDAQ: NUAN) following better-than-expected Q3 results.

Eyal commented, "NUAN reported F3Q15 results slightly better than its 7/21/15 positive earnings pre-announcement. Results reflected strong net new bookings growth, discipline in investments throughout the business and productivity improvements. For 4Q15, NUAN offered the mid-point of guidance below consensus ($509M/$0.35) of $497-513M/$0.33-0.37 but upped FY15 to $1.96-1.98B/$1.20-1.24. Recurring revenue continues to highlight the stabilization of NUAN's revenue stream. We continue to view this quarter's results as building blocks on the prior two quarters which have shown consistent operational improvement."

For an analyst ratings summary and ratings history on Nuance Communications click here. For more ratings news on Nuance Communications click here.

Shares of Nuance Communications closed at $17.95 yesterday.

You May Also Be Interested In

• Growth isn't weak enough to truly undercut inflation pressures - BMO
• Uber Inc. (UBER) PT Raised to $96 at Tigress Financial Partners
• London Stock Exchange Group Plc. (LSEG:LN) (LNSTY) PT Raised to GBP88 at HSBC