At the time of writing, Cadence Design Systems, Inc. [CDNS] stock is trading at $260.81, down -2.56%. An important factor to consider is whether the stock is rising or falling in short-term value. The CDNS shares have gain 0.94% over the last week, with a monthly amount drifted -17.67%, 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.
For the past year, the stock price of Cadence Design Systems, Inc. fluctuated between $217.77 and $328.99. Currently, Wall Street analysts expect the stock to reach $248.9 within the next 12 months. Cadence Design Systems, Inc. [NASDAQ: CDNS] shares were valued at $260.81 at the most recent close of the market. An investor can expect a potential drop of -4.57% based on the average CDNS price forecast.
Analyzing the CDNS fundamentals
According to Cadence Design Systems, Inc. [NASDAQ:CDNS], the company’s sales were 4.16B for trailing twelve months, which represents an 8.61% jump. Gross Profit Margin for this corporation currently stands at 0.88% with Operating Profit Margin at 0.28%, Pretax Profit Margin comes in at 0.31%, and Net Profit Margin reading is 0.25%. To continue investigating profitability, this company’s Return on Assets is posted at 0.15, Equity is 0.29 and Total Capital is 0.21. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.32.
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 256.17 points at the first support level, and at 251.52 for the second support level. However, for the 1st resistance point, the stock is sitting at 268.19, and for the 2nd resistance point, it is at 275.57.
Ratios To Look Out For
It is important to note that Cadence Design Systems, Inc. [NASDAQ:CDNS] has a current ratio of 1.43. On the other hand, the Quick Ratio is 1.32, and the Cash Ratio is 0.69. Considering the valuation of this stock, the price to sales ratio is 17.16, the price to book ratio is 16.76 and price to earnings (TTM) ratio is 67.45.
Transactions by insiders
Recent insider trading involved PAUL A CUNNINGHAM, Officer, that happened on Aug 01 ’24 when 650.0 shares were purchased. Director, SANGIOVANNI VINCENTELLI ALBERT completed a deal on Jul 15 ’24 to sell 1500.0 shares. Meanwhile, Sr. Vice President TENG CHIN-CHI sold 10000.0 shares on Jul 01 ’24.
