Cadence Design Systems, Inc. [NASDAQ: CDNS] price surged by 5.25 percent to reach at $12.96.
The one-year CDNS stock forecast points to a potential upside of 20.85. The average equity rating for CDNS stock is currently 1.71, trading closer to a bullish pattern in the stock market.
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Guru’s Opinion on 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 $328.25 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 1.71. 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 Overweight, with their previous recommendation back on Aug-07-24. While these analysts kept the previous recommendation, Piper Sandler raised their target price to Neutral. The new note on the price target was released on April 04, 2024, representing the official price target for Cadence Design Systems, Inc. stock. Previously, the target price had yet another raise to $350, while Morgan Stanley analysts kept a Overweight rating on CDNS stock.
The Average True Range (ATR) for Cadence Design Systems, Inc. is set at 10.87, with the Price to Sales ratio for CDNS stock in the period of the last 12 months amounting to 17.09. The Price to Book ratio for the last quarter was 16.70, with the Price to Cash per share for the same quarter was set at 3.87. Price to Free Cash Flow for CDNS in the course of the last twelve months was 75.46 with Quick ratio for the last quarter at 1.32.
CDNS Stock Performance Analysis:
Cadence Design Systems, Inc. [CDNS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.64. With this latest performance, CDNS shares dropped by -18.14% in over the last four-week period, additionally sinking by -12.42% over the last 6 months – not to mention a rise of 13.45% 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 39.05, with the RSI for the last a single of trading hit 41.08, and the three-weeks RSI is set at 39.37 for Cadence Design Systems, Inc. [CDNS]. The present Moving Average for the last 50 days of trading for this stock 294.93, while it was recorded at 256.95 for the last single week of trading, and 286.10 for the last 200 days.
Insight into Cadence Design Systems, Inc. Fundamentals:
Cadence Design Systems, Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.32 and a Current Ratio set at 1.43.
CDNS Stock EPS
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 17.55%.
Cadence Design Systems, Inc. [CDNS] Institutonal Ownership Details
The top three institutional holders of CDNS stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.5034%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $178.43 billion in CDNS stocks shares; and BERKSHIRE HATHAWAY INC, currently with $135.36 billion in CDNS stock with ownership which is approximately 5.1238%.
