The leading market experts have placed a mean price target of $26.83 on Cadence Design Systems, Inc. (NASDAQ:CDNS) stock. This price level, which is estimated to be attained in one-year, indicates the mean of stock opinions given by the companies included in the First Call survey. The renowned research firms have predicted earnings of $0.35 a share for the upcoming quarter and $1.20 for the current fiscal.
The technical analysis of Cadence Design Systems, Inc. plainly substantiates that the 50-day moving average of Cadence Design Systems, Inc. is $24.73, and stock is trading $0.00 points away or +0.02% from its 50-day moving average of $24.73. Further it is trading $1.49 or +6.42% away its 200-day moving average of $23.24. Cadence Design Systems, Inc. (NASDAQ:CDNS) 52-week high is $26.24 and the 52-week low is $18.13.
This explains if the stock moves $-1.51, it will post a 52-week high. In event of +36.40% decline, a 52-week low will be hit.
Taking the valuation aspect to emphasize the valuation of Cadence Design Systems, Inc., shareholders can apply financial tool known as price-to-earnings ratio. This financial ratio assesses stock’s valuation by considering the relative expense of the stock. Following this ratio, Cadence Design Systems, Inc. (NASDAQ:CDNS) ratio came in at 29.30.
The stock last ended the trading session at $24.73 and registered a market cap of $7.23B. To appraise firm’s growth, the shareholders take help of the Price-to-Earnings-Growth ratio. When a stock has a higher PEG ratio, it is suggestive of lower stock appreciation in approaching sessions. A stock comes in the group of undervalued stocks when its PEG ratio falls in between 0 and 1. Cadence Design Systems, Inc. (NASDAQ:CDNS) PEG ratio is at 2.03.
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