Cadence Design Systems, Inc [NASDAQ: CDNS] loss -8.78% or -26.39 points to close at $274.04 with a heavy trading volume of 7627099 shares.
The daily chart for CDNS points out that the company has recorded -2.48% loss over the past six months.
If we look at the average trading volume of 1.52M shares, CDNS reached to a volume of 7627099 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $329.11 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 1.57. 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.
Redburn Atlantic have made an estimate for Cadence Design Systems, Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 13, 2025. While these analysts kept the previous recommendation, Wells Fargo raised their target price to Overweight. The new note on the price target was released on November 22, 2024, representing the official price target for Cadence Design Systems, Inc stock. Previously, the target price had yet another raise to $360, while Loop Capital analysts kept a Buy rating on CDNS stock.
The Average True Range (ATR) for Cadence Design Systems, Inc is set at 10.52, with the Price to Sales ratio for CDNS stock in the period of the last 12 months amounting to 16.19. The Price to Book ratio for the last quarter was 16.47, with the Price to Cash per share for the same quarter was set at 9.64. Price to Free Cash Flow for CDNS in the course of the last twelve months was 67.23 with Quick ratio for the last quarter at 2.74.
Trading performance analysis for CDNS stock
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 -9.82. With this latest performance, CDNS shares dropped by -10.33% in over the last four-week period, additionally sinking by -2.48% over the last 6 months – not to mention a drop of -7.32% 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 34.62, with the RSI for the last a single of trading hit 28.87, and the three-weeks RSI is set at 38.59 for Cadence Design Systems, Inc [CDNS]. The present Moving Average for the last 50 days of trading for this stock 302.67, while it was recorded at 291.97 for the last single week of trading, and 288.98 for the last 200 days.
Cadence Design Systems, Inc [CDNS]: A deeper dive into fundamental analysis
Cadence Design Systems, Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.74 and a Current Ratio set at 2.93.
Cadence Design Systems, Inc [CDNS]: An earnings per share (EPS) analysis
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 13.03%.
An analysis of Institutional ownership at Cadence Design Systems, Inc [CDNS]
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 4.3786%.
