Cerence price target lowered to $8 from $11 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on Cerence (CRNC) to $8 from $11 and keeps a Neutral rating on the shares. The stock’s 29% decline is attributed to broader software weakness, below-consensus Q2 and FY26 guidance, and its higher-beta profile, despite management maintaining full-year outlook and tracking well, the analyst tells investors in a research note. Progress on agentic AI wins is encouraging, but the firm sees limited overall growth and profitability, with a more positive view contingent on signs of business acceleration.