Nuance Communications (NUAN) PT Raised to $60 at Oppenheimer Following EPS, Saykara Deal

February 9, 2021 6:35 AM EST
Get Alerts NUAN Hot Sheet
Price: $53.34 +0.68%

Rating Summary:
    9 Buy, 8 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 17 | Down: 13 | New: 41
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Oppenheimer analyst Shaul Eyal raised the price target on Nuance Communications (NASDAQ: NUAN) to $60.00 (from $40.00) while maintaining an Outperform rating following results and the Saykara tuck-in deal.

The analyst commented, "NUAN kicked off FY21 on a high note exceeding consensus' revenue, operating margins, and EPS estimates. Key highlights include: 1) NUAN acquired Saykara, a small tech tuck-in aimed at boosting the AI/ML capabilities of DAX and across NUAN's entire platform. 2) Healthcare Cloud portfolio is garnering a healthy +28% y/y growth. 3) Existing DAX customers are adopting additional capabilities (40% of deals closed saw modules additions) validating the land & expand proposition. 4) The Enterprise segment generated record revenue supported by the elevated volume of fraud attacks in the cyber landscape. 5) International expansion strength continues (mainly in European markets). We are raising our PT from $40 to $60. Outperform."

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