As of close of business last night, Cadence Design Systems, Inc.’s stock clocked out at $311.34, down -1.48% from its previous closing price of $316.01. In other words, the price has decreased by -$4.67 from its previous closing price. On the day, 1075507 shares were traded.
Ratios:
To gain a deeper understanding of CDNS’s stock, we examine its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 74.55 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 68.07. For the most recent quarter (mrq), Quick Ratio is recorded 1.13 and its Current Ratio is at 1.24. In the meantime, Its Debt-to-Equity ratio is 0.24 whereas as Long-Term Debt/Eq ratio is at 0.12.
On February 13, 2024, Rosenblatt Downgraded its rating to Neutral which previously was Buy but kept the price unchanged to $280.
On November 10, 2023, Morgan Stanley started tracking the stock assigning a Equal-Weight rating and target price of $260.Morgan Stanley initiated its Equal-Weight rating on November 10, 2023, with a $260 target price.
Insider Transactions:
Investing in insider trades can also provide an investor with insight into how management views future stock prices. A recent insider transaction in this stock occurred on Mar 18 ’24 when DEVGAN ANIRUDH sold 48,533 shares for $302.50 per share. The transaction valued at 14,681,186 led to the insider holds 67,812 shares of the business.
ZAMAN ANEEL sold 23,592 shares of CDNS for $7,137,108 on Mar 18 ’24. The Sr. Vice President now owns 24,499 shares after completing the transaction at $302.52 per share. On Mar 14 ’24, another insider, SANGIOVANNI VINCENTELLI ALBERT, who serves as the Director of the company, sold 1,500 shares for $309.16 each. As a result, the insider received 463,736 and left with 51,683 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 84.87B and an Enterprise Value of 84.50B. As of this moment, Cadence’s Price-to-Earnings (P/E) ratio for their current fiscal year is 81.55, and their Forward P/E ratio for the next fiscal year is 44.83. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 4.78. For the stock, the TTM Price-to-Sale (P/S) ratio is 20.75 while its Price-to-Book (P/B) ratio in mrq is 24.85. Its current Enterprise Value per Revenue stands at 20.66 whereas that against EBITDA is 57.72.
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 $194.01. The 50-Day Moving Average of the stock is 302.06, while the 200-Day Moving Average is calculated to be 259.74.
Shares Statistics:
It appears that CDNS traded 1.52M shares on average per day over the past three months and 1.55M shares per day over the past ten days. A total of 271.71M shares are outstanding, with a floating share count of 270.14M. Insiders hold about 0.90% of the company’s shares, while institutions hold 88.57% stake in the company. Shares short for CDNS as of Feb 29, 2024 were 2.44M with a Short Ratio of 1.74, compared to 2.73M on Jan 31, 2024. Therefore, it implies a Short% of Shares Outstanding of 0.89% and a Short% of Float of 1.19%.
Earnings Estimates
As of right now, 10 analysts gave their recommendation on the stock of the company. On average, analysts expect EPS of $1.12 for the current quarter, with a high estimate of $1.16 and a low estimate of $1.11, while EPS last year was $1.29. The consensus estimate for the next quarter is $1.41, with high estimates of $1.54 and low estimates of $1.31.
Analysts are recommending an EPS of between $6 and $5.87 for the fiscal current year, implying an average EPS of $5.94. EPS for the following year is $6.95, with 12 analysts recommending between $7.76 and $6.3.
Revenue Estimates
In the current quarter, 10 analysts expect revenue to total $1B. It ranges from a high estimate of $1.02B to a low estimate of $999.95M. As of the current estimate, Cadence Design Systems, Inc.’s year-ago sales were $1.02B, an estimated decrease of -1.90% from the year-ago figure. For the next quarter, 10 analysts are estimating revenue of $1.1B, an increase of 13.30% over than the figure of -$1.90% in the same quarter last year. There is a high estimate of $1.16B for the next quarter, whereas the lowest estimate is $1.06B.
A total of 14 analysts have provided revenue estimates for CDNS’s current fiscal year. The highest revenue estimate was $4.66B, while the lowest revenue estimate was $4.56B, resulting in an average revenue estimate of $4.59B. In the same quarter a year ago, actual revenue was $4.09B, up 12.20% from the average estimate. Based on 13 analysts’ estimates, the company’s revenue will be $5.19B in the next fiscal year. The high estimate is $5.35B and the low estimate is $4.94B. The average revenue growth estimate for next year is up 13.00% from the average revenue estimate for this year.
