Cadence Design Systems, Inc [CDNS] stock prices are up 2.92% to $306.47 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 3.28% over the last week, with a monthly amount glided 13.73%, 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 November 12, 2024, when Loop Capital initiated its Buy rating and assigned the stock a price target of $360. Previously, Mizuho started tracking the stock with Outperform rating on October 22, 2024, and set its price target to $325. On October 15, 2024, Berenberg initiated with a Buy rating and assigned a price target of $320 on the stock. Oppenheimer started tracking the stock assigning a Underperform rating and suggested a price target of $225 on September 25, 2024. Piper Sandler upgraded its rating to a Overweight but $318 remained the price target by the analyst firm on August 06, 2024. Piper Sandler started tracking with a Neutral rating for this stock on April 04, 2024, and assigned it a price target of $334. In a note dated February 14, 2024, Morgan Stanley upgraded an Overweight rating on this stock but restated the target price of $350.
The stock price of Cadence Design Systems, Inc [CDNS] has been fluctuating between $241.29 and $328.99 over the past year. Currently, Wall Street analysts expect the stock to reach $276.07 within the next 12 months. Cadence Design Systems, Inc [NASDAQ: CDNS] shares were valued at $306.47 at the most recent close of the market. An investor can expect a potential drop of -9.92% 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 298.09 points at the first support level, and at 289.71 for the second support level. However, for the 1st resistance point, the stock is sitting at 312.40, and for the 2nd resistance point, it is at 318.34.
Ratios To Look Out For
It’s worth pointing out that Cadence Design Systems, Inc [NASDAQ:CDNS]’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 19.31, the price to book ratio is 18.42 and price to earnings (TTM) ratio is 80.59.
Transactions by insiders
Recent insider trading involved BECKLEY THOMAS P, Officer, that happened on Nov 06 ’24 when 19353.0 shares were purchased. Sr. Vice President, Cunningham Paul completed a deal on Nov 01 ’24 to sell 650.0 shares. Meanwhile, Officer PAUL A CUNNINGHAM bought 650.0 shares on Nov 01 ’24.
