Cadence Design Systems, Inc. [CDNS] stock is trading at $285.28, up 0.96%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The CDNS shares have gain 3.20% over the last week, with a monthly amount drifted -6.34%, and not seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Cadence Design Systems, Inc. [NASDAQ: CDNS] stock has seen the most recent analyst activity on April 04, 2024, when Piper Sandler initiated its Neutral rating and assigned the stock a price target of $334. Previously, Morgan Stanley upgraded its rating to Overweight on February 14, 2024, and kept the price target unchanged to $350. On February 13, 2024, downgrade downgraded it’s rating to Neutral but maintained its price target of $280 on the stock. Morgan Stanley started tracking the stock assigning a Equal-Weight rating and suggested a price target of $260 on November 10, 2023. Stifel upgraded its rating to a Buy and raised its price target to $300 on July 20, 2023. Atlantic Equities upgraded its rating to Overweight for this stock on January 17, 2023, but kept the price target unchanged to $200. In a note dated December 16, 2022, BofA Securities upgraded an Buy rating on this stock.
Cadence Design Systems, Inc. [CDNS] stock has fluctuated between $198.92 and $327.36 over the past year. Currently, Wall Street analysts expect the stock to reach $245.8 within the next 12 months. Cadence Design Systems, Inc. [NASDAQ: CDNS] shares were valued at $285.28 at the most recent close of the market. An investor can expect a potential drop of -13.84% based on the average CDNS price forecast.
Analyzing the CDNS fundamentals
Cadence Design Systems, Inc. [NASDAQ:CDNS] reported sales of 4.08B for the trailing twelve months, which represents a drop of -1.23%. Gross Profit Margin for this corporation currently stands at 0.89% with Operating Profit Margin at 0.29%, Pretax Profit Margin comes in at 0.31%, and Net Profit Margin reading is 0.26%. To continue investigating profitability, this company’s Return on Assets is posted at 0.18, Equity is 0.32 and Total Capital is 0.28. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.18.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 282.61 points at the first support level, and at 279.94 for the second support level. However, for the 1st resistance point, the stock is sitting at 287.59, and for the 2nd resistance point, it is at 289.90.
Ratios To Look Out For
For context, Cadence Design Systems, Inc.’s Current Ratio is 1.32. Also, the Quick Ratio is 1.19, while the Cash Ratio stands at 0.69. Considering the valuation of this stock, the price to sales ratio is 19.04, the price to book ratio is 21.76 and price to earnings (TTM) ratio is 74.33.
Transactions by insiders
Recent insider trading involved Cunningham Paul, Sr. Vice President, that happened on May 01 ’24 when 1000.0 shares were sold. SVP & General Counsel, Nisewaner Karna completed a deal on May 01 ’24 to sell 600.0 shares. Meanwhile, Director SANGIOVANNI VINCENTELLI ALBERT sold 1500.0 shares on Apr 15 ’24.
