Stock To Watch: Cadence Design Systems, Inc. (NASDAQ:CDNS)


The leading market experts have placed a mean price target of $25.43 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 $0.31 a share for the upcoming quarter and $1.21 for the current fiscal. Technical View The technical analysis of Cadence Design Systems, Inc. plainly substantiates that the 50-day moving average of Cadence Design Systems, Inc. is $24.35, and stock is hovering -0.57 or -2.34% distant from $24.35. It is noted that the 200-day MA is $22.29, and Cadence Design Systems, Inc. stock is $1.49 or +6.66% off from this point. Cadence Design Systems, Inc. (NASDAQ:CDNS) 52-week high is $25.49 and the 52-week low is $18.13. This explains if the stock moves $-1.71, it will post a 52-week high. In event of $+31.16% points 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 27.62. The stock last ended the trading session at $23.78 and registered a market cap of $7.15B. 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 2.14.

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