A share price of Cadence Design Systems, Inc. [CDNS] is currently trading at $321.11, up 1.79%. An important factor to consider is whether the stock is rising or falling in short-term value. The CDNS shares have gain 4.28% over the last week, with a monthly amount glided 11.83%, and 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. experienced fluctuations in its stock price throughout the past year between $217.77 and $328.99. Currently, Wall Street analysts expect the stock to reach $249.2 within the next 12 months. Cadence Design Systems, Inc. [NASDAQ: CDNS] shares were valued at $321.11 at the most recent close of the market. An investor can expect a potential drop of -22.39% based on the average CDNS price forecast.
Analyzing the CDNS fundamentals
Trailing Twelve Months sales for Cadence Design Systems, Inc. [NASDAQ:CDNS] were 4.08B which represents -1.23% decline. 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. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.18.
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 315.71 points at the first support level, and at 310.31 for the second support level. However, for the 1st resistance point, the stock is sitting at 324.39, and for the 2nd resistance point, it is at 327.68.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Cadence Design Systems, Inc. [NASDAQ:CDNS] is 1.32. On the other hand, the Quick Ratio is 1.19, and the Cash Ratio is 0.69. Considering the valuation of this stock, the price to sales ratio is 21.45, the price to book ratio is 24.49 and price to earnings (TTM) ratio is 83.67.
Transactions by insiders
Recent insider trading involved TENG CHIN-CHI, Sr. Vice President, that happened on Jul 01 ’24 when 10000.0 shares were sold. Sr. Vice President, Cunningham Paul completed a deal on Jul 01 ’24 to sell 650.0 shares. Meanwhile, SVP & General Counsel Nisewaner Karna sold 600.0 shares on Jul 01 ’24.
