Cadence Design Systems, Inc. [CDNS] stock prices are up 5.25% to $259.80 at the moment. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The CDNS shares have gain 2.64% over the last week, with a monthly amount drifted -18.14%, 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 August 06, 2024, when Piper Sandler upgraded its rating to a Overweight but kept the price target unchanged to $318 for it. Previously, Piper Sandler started tracking the stock with Neutral rating on April 04, 2024, and set its price target to $334. On February 14, 2024, upgrade upgraded it’s rating to Overweight but maintained its price target of $350 on the stock. Rosenblatt downgraded its rating to a Neutral but stick to its price target of $280 on February 13, 2024. Morgan Stanley initiated its recommendation with a Equal-Weight and recommended $260 as its price target on November 10, 2023. Stifel upgraded its rating to Buy for this stock on July 20, 2023, and upped its price target to $300. In a note dated January 17, 2023, Atlantic Equities upgraded an Overweight rating on this stock but restated the target price of $200.
The stock price of Cadence Design Systems, Inc. [CDNS] has been fluctuating between $217.77 and $328.99 over the past year. 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 $259.80 at the most recent close of the market. An investor can expect a potential drop of -4.2% based on the average CDNS price forecast.
Analyzing the CDNS fundamentals
The Cadence Design Systems, Inc. [NASDAQ:CDNS] reported sales of 4.16B for trailing twelve months, representing a surge of 8.61%. 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. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.32.
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 253.26 points at the first support level, and at 246.72 for the second support level. However, for the 1st resistance point, the stock is sitting at 265.69, and for the 2nd resistance point, it is at 271.58.
Ratios To Look Out For
It’s worth pointing out that Cadence Design Systems, Inc. [NASDAQ:CDNS]’s Current Ratio is 1.43. As well, the Quick Ratio is 1.32, while the Cash Ratio is 0.69. Considering the valuation of this stock, the price to sales ratio is 17.09, the price to book ratio is 16.70 and price to earnings (TTM) ratio is 67.18.
Transactions by insiders
Recent insider trading involved PAUL A CUNNINGHAM, Officer, that happened on Aug 01 ’24 when 650.0 shares were purchased. Sr. Vice President, Cunningham Paul completed a deal on Aug 01 ’24 to sell 650.0 shares. Meanwhile, Director SANGIOVANNI VINCENTELLI ALBERT sold 1500.0 shares on Jul 15 ’24.
