Cadence Design Systems, Inc [CDNS] stock is trading at $311.35, down -0.68%. 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 2.80% over the last week, with a monthly amount glided 7.47%, 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 22, 2024, when Wells Fargo initiated its Overweight rating and assigned the stock a price target of $350. Previously, Loop Capital started tracking the stock with Buy rating on November 12, 2024, and set its price target to $360. On October 22, 2024, Mizuho initiated with a Outperform rating and assigned a price target of $325 on the stock. Berenberg started tracking the stock assigning a Buy rating and suggested a price target of $320 on October 15, 2024. Oppenheimer initiated its recommendation with a Underperform and recommended $225 as its price target on September 25, 2024. Piper Sandler upgraded its rating to Overweight for this stock on August 06, 2024, but kept the price target unchanged to $318. In a note dated April 04, 2024, Piper Sandler initiated an Neutral rating and provided a target price of $334 on this stock.
Cadence Design Systems, Inc [CDNS] stock has fluctuated between $241.29 and $328.99 over the past year. Currently, Wall Street analysts expect the stock to reach $322.5 within the next 12 months. Cadence Design Systems, Inc [NASDAQ: CDNS] shares were valued at $311.35 at the most recent close of the market. An investor can expect a potential return of 3.58% 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 0.9% 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 309.22 points at the first support level, and at 307.10 for the second support level. However, for the 1st resistance point, the stock is sitting at 314.60, and for the 2nd resistance point, it is at 317.86.
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 19.61, the price to book ratio is 18.71 and price to earnings (TTM) ratio is 81.88.
Transactions by insiders
Recent insider trading involved Scannell Paul, Sr. Vice President, that happened on Dec 13 ’24 when 3171.0 shares were sold. Officer, PAUL SCANNELL completed a deal on Dec 13 ’24 to buy 3171.0 shares. Meanwhile, Sr. Vice President Cunningham Paul sold 650.0 shares on Dec 02 ’24.
