Cadence Design Systems, Inc. [CDNS] stock prices are up 2.77% to $270.15 at the moment. In order to assess the stock’s recent performance, you can check whether its short-term value is rising or falling. The CDNS shares have gain 2.59% over the last week, with a monthly amount glided 6.86%, 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 September 25, 2024, when Oppenheimer initiated its Underperform rating and assigned the stock a price target of $225. Previously, Piper Sandler upgraded its rating to Overweight on August 06, 2024, and kept the price target unchanged to $318. On April 04, 2024, Piper Sandler initiated with a Neutral rating and assigned a price target of $334 on the stock. Morgan Stanley upgraded its rating to a Overweight but stick to its price target of $350 on February 14, 2024. Rosenblatt downgraded its rating to a Neutral but $280 remained the price target by the analyst firm on February 13, 2024. Morgan Stanley started tracking with a Equal-Weight rating for this stock on November 10, 2023, and assigned it a price target of $260. In a note dated July 20, 2023, Stifel upgraded an Buy rating on this stock and boosted its target price from $210 to $300.
The stock price of Cadence Design Systems, Inc. [CDNS] has been fluctuating between $228.66 and $328.99 over the past year. Currently, Wall Street analysts expect the stock to reach $246.73 within the next 12 months. Cadence Design Systems, Inc. [NASDAQ: CDNS] shares were valued at $270.15 at the most recent close of the market. An investor can expect a potential drop of -8.67% 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 265.55 points at the first support level, and at 260.96 for the second support level. However, for the 1st resistance point, the stock is sitting at 272.76, and for the 2nd resistance point, it is at 275.38.
Ratios To Look Out For
It’s worth pointing out that Cadence Design Systems, Inc. [NASDAQ:CDNS]’s Current Ratio is 1.43. In addition, the Quick Ratio stands at 1.32 and the Cash Ratio stands at 0.69. Considering the valuation of this stock, the price to sales ratio is 17.78, the price to book ratio is 17.36 and price to earnings (TTM) ratio is 69.86.
Transactions by insiders
Recent insider trading involved JOHN M WALL, Officer, that happened on Oct 08 ’24 when 25.0 shares were purchased. Sr. Vice President, Cunningham Paul completed a deal on Oct 01 ’24 to sell 650.0 shares. Meanwhile, Officer PAUL A CUNNINGHAM bought 650.0 shares on Oct 01 ’24.
