Cadence Design Systems, Inc [NASDAQ: CDNS] closed the trading session at $303.79.
The stocks have a year to date performance of 11.54 percent and weekly performance of -0.29 percent. The stock has been moved at 2.72 percent over the last six months. The stock has performed 4.32 percent around the most recent 30 days and changed 22.73 percent over the most recent 3-months.
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If compared to the average trading volume of 1.86M shares, CDNS reached to a volume of 2691277 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 $318.00 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 1.76. 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.
Wells Fargo have made an estimate for Cadence Design Systems, Inc shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on November 22, 2024. While these analysts kept the previous recommendation, Loop Capital raised their target price to Buy. The new note on the price target was released on November 12, 2024, representing the official price target for Cadence Design Systems, Inc stock. Previously, the target price had yet another raise to $325, while Mizuho analysts kept a Outperform rating on CDNS stock.
The Average True Range (ATR) for Cadence Design Systems, Inc is set at 9.63, with the Price to Sales ratio for CDNS stock in the period of the last 12 months amounting to 19.14. The Price to Book ratio for the last quarter was 18.26, with the Price to Cash per share for the same quarter was set at 10.54. Price to Free Cash Flow for CDNS in the course of the last twelve months was 87.50 with Quick ratio for the last quarter at 2.27.
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 -0.29. With this latest performance, CDNS shares gained by 4.32% in over the last four-week period, additionally plugging by 2.72% over the last 6 months – not to mention a rise of 15.87% 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 52.71, with the RSI for the last a single of trading hit 48.71, and the three-weeks RSI is set at 54.30 for Cadence Design Systems, Inc [CDNS]. The present Moving Average for the last 50 days of trading for this stock 284.48, while it was recorded at 311.73 for the last single week of trading, and 289.03 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 2.27 and a Current Ratio set at 2.45.
Earnings per share (EPS) analysis for Cadence Design Systems, Inc [CDNS] stock
With the latest financial reports released by the company, Cadence Design Systems, Inc posted 1.38/share EPS, while the average EPS was predicted by analysts to be reported at 1.33/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 0.05. 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 15.40%.
Cadence Design Systems, Inc [CDNS]: Institutional Ownership
There are presently around $90.91%, or 91.65%% of CDNS stock, in the hands of institutional investors. The top three institutional holders of CDNS stocks are: BLACKROCK INC. with ownership of 30.65 million shares, which is approximately 11.3688%. VANGUARD GROUP INC, holding 25.41 million shares of the stock with an approximate value of $$7.82 billion in CDNS stocks shares; and VANGUARD GROUP INC, currently with $$3.65 billion in CDNS stock with ownership which is approximately 4.3998%.
