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After finishing at $296.42 in the prior trading day, Cadence Design Systems, Inc. (NASDAQ: CDNS) closed at $295.74, down -0.23%. In other words, the price has decreased by -$0.23 from its previous closing price. On the day, 1.24 million shares were traded. CDNS stock price reached its highest trading level at $299.08 during the session, while it also had its lowest trading level at $295.14.
Ratios:
Our goal is to gain a better understanding of CDNS by taking a closer look at its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 79.49 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 66.52. For the most recent quarter (mrq), Quick Ratio is recorded 1.19 and its Current Ratio is at 1.32. In the meantime, Its Debt-to-Equity ratio is 0.18 whereas as Long-Term Debt/Eq ratio is at 0.08.
Upgrades & Downgrades
In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for this company, Piper Sandler on April 04, 2024, initiated with a Neutral rating and assigned the stock a target price of $334.
On February 14, 2024, Morgan Stanley Upgraded its rating to Overweight which previously was Equal-Weight but kept the price unchanged to $350.
Rosenblatt Downgraded its Buy to Neutral on February 13, 2024, while the target price for the stock was maintained at $280.
Insider Transactions:
The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Jun 03 ’24 when Nisewaner Karna sold 600 shares for $287.31 per share. The transaction valued at 172,386 led to the insider holds 19,880 shares of the business.
SANGIOVANNI VINCENTELLI ALBERT sold 1,500 shares of CDNS for $430,705 on May 15 ’24. The Director now owns 49,551 shares after completing the transaction at $287.14 per share. On May 01 ’24, another insider, Cunningham Paul, who serves as the Sr. Vice President of the company, sold 1,000 shares for $275.36 each. As a result, the insider received 275,360 and left with 67,144 shares of the company.
Valuation Measures:
Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, CDNS now has a Market Capitalization of 80666042368 and an Enterprise Value of 79973203968. As of this moment, Cadence’s Price-to-Earnings (P/E) ratio for their current fiscal year is 77.06, and their Forward P/E ratio for the next fiscal year is 42.89. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 4.51. For the stock, the TTM Price-to-Sale (P/S) ratio is 19.74 while its Price-to-Book (P/B) ratio in mrq is 22.56. Its current Enterprise Value per Revenue stands at 19.614 whereas that against EBITDA is 58.862.
Stock Price History:
Over the past 52 weeks, CDNS has reached a high of $327.36, while it has fallen to a 52-week low of $217.77. The 50-Day Moving Average of the stock is 0.99%, while the 200-Day Moving Average is calculated to be 7.91%.
Shares Statistics:
The stock has traded on average 1.52M shares per day over the past 3-months and 1721120 shares per day over the last 10 days, according to various share statistics. A total of 271.71M shares are outstanding, with a floating share count of 269.43M. Insiders hold about 0.99% of the company’s shares, while institutions hold 89.40% stake in the company. Shares short for CDNS as of 1715731200 were 3169907 with a Short Ratio of 2.09, compared to 1713139200 on 2460351. Therefore, it implies a Short% of Shares Outstanding of 3169907 and a Short% of Float of 1.3099999.
Earnings Estimates
The performance of Cadence Design Systems, Inc. (CDNS) in the stock market is under the watchful eye of 10.0 analysts actively contributing to its current rating.On average, analysts expect EPS of $1.22 for the current quarter, with a high estimate of $1.24 and a low estimate of $1.22, while EPS last year was $1.22. The consensus estimate for the next quarter is $1.6, with high estimates of $1.73 and low estimates of $1.52.
Analysts are recommending an EPS of between $5.99 and $5.88 for the fiscal current year, implying an average EPS of $5.93. EPS for the following year is $6.92, with 11.0 analysts recommending between $7.14 and $6.5.
Revenue Estimates
11 analysts predict $1.04B in revenue for the current quarter. It ranges from a high estimate of $1.05B to a low estimate of $1.04B. As of the current estimate, Cadence Design Systems, Inc.’s year-ago sales were $974.86MFor the next quarter, 11 analysts are estimating revenue of $1.19B. There is a high estimate of $1.24B for the next quarter, whereas the lowest estimate is $1.15B.
A total of 12 analysts have provided revenue estimates for CDNS’s current fiscal year. The highest revenue estimate was $4.66B, while the lowest revenue estimate was $4.57B, resulting in an average revenue estimate of $4.59B. In the same quarter a year ago, actual revenue was $4.09BBased on 11 analysts’ estimates, the company’s revenue will be $5.19B in the next fiscal year. The high estimate is $5.29B and the low estimate is $5.06B.
