Cerence Inc. (CRNC) Might Be A Hidden Gem, Says Jim Cramer

We recently published 10 Stocks Jim Cramer Discussed As He Asserted He Could Beat The Government’s Numbers. Cerence Inc. (NASDAQ:CRNC) is one of the stocks Jim Cramer recently discussed.

Cerence Inc. (NASDAQ:CRNC) is a software company that caters to the needs of the transportation industry. Its shares have gained 60% year-to-date and gained an unbelievable 45% in August. Cerence Inc. (NASDAQ:CRNC) is benefiting from the AI wave through having landed major deals, such as a partnership with Mercedes-Benz. Cramer discussed the firm in the context of it being an outlier that could be interesting in the AI era:

“I’m doing a piece about Cerence tonight. People are going to want to find out what I’m saying there. There’s a lot of technology away from these big companies that is better than the big companies.”

Here are Cramer’s previous thoughts about Cerence Inc. (NASDAQ:CRNC):

“I like Cerence, and I also happen to like Brian Krzanich, the CEO. I am partial. They make money. I think you’ve got a winner. I was actually trying to figure out whether I could justify doing a piece on it because it’s not that expensive. Cerence is a winner, and Brian’s always welcome on the show, as we know.”

While we acknowledge the potential of CRNC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.