NUAN - Nuance Communications: A Move Toward SaaS Will Eventually Prove Beneficial
I am currently neutral on Nuance Communications (NUAN) as they migrate to a cloud-based SaaS (Software as a Service) business model. The market is assuming a flawless transition which is unlikely, however, future opportunities may occur if the stock price falters.
Company Summary
Nuance Communications design conversational artificial intelligence applications to increase productivity for their customers. Conversational AI uses speech to interact with a device, the most common examples being Alexa and Siri. They produce conversational AI services for companies in healthcare, financial services, telecommunications, government and retail.
In 2019 their Automotive business,