Cadence Design Systems, Inc. [NASDAQ: CDNS] closed the trading session at $285.90.
The stocks have a year to date performance of 4.97 percent and weekly performance of -7.80 percent. The stock has been moved at 14.35 percent over the last six months. The stock has performed -8.32 percent around the most recent 30 days and changed 2.47 percent over the most recent 3-months.
If compared to the average trading volume of 1.46M shares, CDNS reached to a volume of 2700206 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Cadence Design Systems, Inc. [CDNS]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CDNS shares is $326.55 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CDNS stock is a recommendation set at 1.83. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Piper Sandler have made an estimate for Cadence Design Systems, Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 04, 2024. The new note on the price target was released on February 14, 2024, representing the official price target for Cadence Design Systems, Inc. stock. Previously, the target price had yet another raise to $280, while Rosenblatt analysts kept a Neutral rating on CDNS stock.
The Average True Range (ATR) for Cadence Design Systems, Inc. is set at 8.20, with the Price to Sales ratio for CDNS stock in the period of the last 12 months amounting to 19.06. The Price to Book ratio for the last quarter was 22.82, with the Price to Cash per share for the same quarter was set at 4.18. Price to Free Cash Flow for CDNS in the course of the last twelve months was 62.51 with Quick ratio for the last quarter at 1.13.
CDNS stock trade performance evaluation
Cadence Design Systems, Inc. [CDNS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.80. With this latest performance, CDNS shares dropped by -8.32% in over the last four-week period, additionally plugging by 14.35% over the last 6 months – not to mention a rise of 33.74% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CDNS stock in for the last two-week period is set at 32.93, with the RSI for the last a single of trading hit 24.54, and the three-weeks RSI is set at 38.81 for Cadence Design Systems, Inc. [CDNS]. The present Moving Average for the last 50 days of trading for this stock 306.29, while it was recorded at 297.57 for the last single week of trading, and 265.27 for the last 200 days.
Cadence Design Systems, Inc. [CDNS]: An insightful look at the core fundamentals
Cadence Design Systems, Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.13 and a Current Ratio set at 1.24.
Earnings per share (EPS) analysis for Cadence Design Systems, Inc. [CDNS] stock
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CDNS. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Cadence Design Systems, Inc. go to 17.05%.
Cadence Design Systems, Inc. [CDNS]: Institutional Ownership
The top three institutional holders of CDNS stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in CDNS stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in CDNS stock with ownership which is approximately 5.8386%.
