Cadence Design Systems, Inc. [CDNS] stock prices are up 12.53% to $284.45 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 13.10% over the last week, with a monthly amount glided 4.95%, 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 October 22, 2024, when Mizuho initiated its Outperform rating and assigned the stock a price target of $325. Previously, Berenberg started tracking the stock with Buy rating on October 15, 2024, and set its price target to $320. On September 25, 2024, Oppenheimer initiated with a Underperform rating and assigned a price target of $225 on the stock. Piper Sandler upgraded its rating to a Overweight but stick to its price target of $318 on August 06, 2024. Piper Sandler initiated its recommendation with a Neutral and recommended $334 as its price target on April 04, 2024. Morgan Stanley upgraded its rating to Overweight for this stock on February 14, 2024, but kept the price target unchanged to $350. In a note dated February 13, 2024, Rosenblatt downgraded an Neutral rating on this stock but restated the target price of $280.
The stock price of Cadence Design Systems, Inc. [CDNS] has been fluctuating between $230.65 and $328.99 over the past year. Currently, Wall Street analysts expect the stock to reach $270.07 within the next 12 months. Cadence Design Systems, Inc. [NASDAQ: CDNS] shares were valued at $284.45 at the most recent close of the market. An investor can expect a potential drop of -5.06% based on the average CDNS price forecast.
Analyzing the CDNS fundamentals
The Cadence Design Systems, Inc. [NASDAQ:CDNS] reported sales of 4.35B for trailing twelve months, representing a surge of 18.81%. Gross Profit Margin for this corporation currently stands at 0.94% with Operating Profit Margin at 0.28%, Pretax Profit Margin comes in at 0.3%, and Net Profit Margin reading is 0.24%. To continue investigating profitability, this company’s Return on Assets is posted at 0.11, Equity is 0.26 and Total Capital is 0.16. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.62.
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 275.29 points at the first support level, and at 266.13 for the second support level. However, for the 1st resistance point, the stock is sitting at 290.31, and for the 2nd resistance point, it is at 296.18.
Ratios To Look Out For
It’s worth pointing out that Cadence Design Systems, Inc. [NASDAQ:CDNS]’s Current Ratio is 2.45. In addition, the Quick Ratio stands at 2.27 and the Cash Ratio stands at 1.66. Considering the valuation of this stock, the price to sales ratio is 17.89, the price to book ratio is 18.28 and price to earnings (TTM) ratio is 74.79.
Transactions by insiders
Recent insider trading involved SANGIOVANNI VINCENTELLI ALBERT, Director, that happened on Oct 15 ’24 when 1500.0 shares were sold. Director, SANGIOVANNI VINCENTELLI ALBERT completed a deal on Oct 15 ’24 to buy 1500.0 shares. Meanwhile, Sr. VP & CFO WALL JOHN M sold 25.0 shares on Oct 08 ’24.
