Cadence Design Systems, Inc [CDNS] stock is trading at $282.09, up 2.16%. 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 9.63% over the last week, with a monthly amount glided 6.13%, 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.
Cadence Design Systems, Inc [CDNS] stock has fluctuated between $240.35 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 $282.09 at the most recent close of the market. An investor can expect a potential drop of -4.26% based on the average CDNS price forecast.
Analyzing the CDNS fundamentals
Cadence Design Systems, Inc [NASDAQ:CDNS] reported sales of 4.35B for the trailing twelve months, which represents a growth 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. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.62.
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 277.34 points at the first support level, and at 272.59 for the second support level. However, for the 1st resistance point, the stock is sitting at 284.92, and for the 2nd resistance point, it is at 287.75.
Ratios To Look Out For
For context, Cadence Design Systems, Inc’s Current Ratio is 2.45. As well, the Quick Ratio is 2.27, while the Cash Ratio is 1.66. Considering the valuation of this stock, the price to sales ratio is 18.15, the price to book ratio is 16.95 and price to earnings (TTM) ratio is 74.18.
Transactions by insiders
Recent insider trading involved PAUL A CUNNINGHAM, Officer, that happened on Nov 01 ’24 when 650.0 shares were purchased. Director, SANGIOVANNI VINCENTELLI ALBERT completed a deal on Oct 15 ’24 to sell 1500.0 shares. Meanwhile, Director SANGIOVANNI VINCENTELLI ALBERT bought 1500.0 shares on Oct 15 ’24.
