Morgan Stanley Sees Bookings as Highlight of Nuance Communications' Q1 Results

In a report published Tuesday, Morgan Stanley analyst Jennifer Swanson Lowe reiterated an Equal-Weight rating on Nuance Communications NUAN. In the report, Morgan Stanley noted, “As preannounced, Q1 results topped guidance, but the highlight of Q1 was bookings +26% YoY, putting the company comfortably on track to hit targeted bookings growth of ~15% for the year. Results volatility and lack of top-line growth keeps us on the sidelines, but we view Q1's improved performance as a step in the right direction.” Nuance Communications closed on Monday at $15.76.