For those desiring to outshine the market, the strategic selection of individual stocks is paramount. Well-chosen stocks have the potential to substantially boost your wealth.
Cadence Design Systems, Inc. (NASDAQ: CDNS) closed the day trading at $281.76 down -1.14% from the previous closing price of $285.02. In other words, the price has decreased by -$1.14 from its previous closing price. On the day, 4.68 million shares were traded. CDNS stock price reached its highest trading level at $285.975 during the session, while it also had its lowest trading level at $275.5.
Ratios:
For a better understanding of CDNS, let’s look at its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 67.46 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 61.60. 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.
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 Apr 15 ’24 when SANGIOVANNI VINCENTELLI ALBERT sold 1,500 shares for $308.83 per share. The transaction valued at 463,238 led to the insider holds 50,183 shares of the business.
Cunningham Paul sold 1,000 shares of CDNS for $310,460 on Apr 01 ’24. The Sr. Vice President now owns 68,144 shares after completing the transaction at $310.46 per share. On Apr 01 ’24, another insider, Nisewaner Karna, who serves as the SVP & General Counsel of the company, sold 600 shares for $310.46 each. As a result, the insider received 186,276 and left with 21,080 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 76808060928 and an Enterprise Value of 76479995904. As of this moment, Cadence’s Price-to-Earnings (P/E) ratio for their current fiscal year is 73.80, and their Forward P/E ratio for the next fiscal year is 40.45. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 4.33. For the stock, the TTM Price-to-Sale (P/S) ratio is 18.78 while its Price-to-Book (P/B) ratio in mrq is 22.49. Its current Enterprise Value per Revenue stands at 18.757 whereas that against EBITDA is 56.545.
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 -7.75%, while the 200-Day Moving Average is calculated to be 6.01%.
Shares Statistics:
Over the past 3-months, CDNS traded about 1.48M shares per day on average, while over the past 10 days, CDNS traded about 1954810 shares per day. A total of 271.71M shares are outstanding, with a floating share count of 270.19M. Insiders hold about 0.88% of the company’s shares, while institutions hold 88.63% stake in the company. Shares short for CDNS as of 1711584000 were 2749066 with a Short Ratio of 1.86, compared to 1709164800 on 2435908. Therefore, it implies a Short% of Shares Outstanding of 2749066 and a Short% of Float of 1.1400000000000001.
Earnings Estimates
The market rating for Cadence Design Systems, Inc. (CDNS) is a result of the insights provided by 11.0 analysts actively involved in the assessment.On average, analysts expect EPS of $1.43 for the current quarter, with a high estimate of $1.54 and a low estimate of $1.33, while EPS last year was $1.22. The consensus estimate for the next quarter is $1.61, with high estimates of $1.7 and low estimates of $1.54.
Analysts are recommending an EPS of between $6.0 and $5.87 for the fiscal current year, implying an average EPS of $5.94. EPS for the following year is $6.97, with 14.0 analysts recommending between $7.76 and $6.3.
Revenue Estimates
11 analysts predict $1.11B in revenue for the current quarter. It ranges from a high estimate of $1.16B to a low estimate of $1.09B. 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 $1.2B. There is a high estimate of $1.24B for the next quarter, whereas the lowest estimate is $1.17B.
A total of 16 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 $4.09BBased on 15 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.
