Cadence Design Systems (NASDAQ:CDNS) Target Raised by Credit Suisse Group AG to $175.00

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Cadence Design Systems stock has undergone multiple analysts rating changes in the recent past.  Cadence Design Systems stock Target Raised by Credit Suisse Group AG on 10/26/2021. In a note to investors, the firm issued a new target price of $175.00. The analysts previously had $155.00 target price. Credit Suisse Group AG’s price target would indicate a potential upside of 4.56% from the stock’s previous close.

Shares of Cadence Design Systems traded up $1.82 on Monday, reaching $169.19. 163105 shares of the stock traded hands, compared to its average volume of 1111189. On Monday, Shares of Cadence Design Systems closed at $169.19. The firm’s 50 day moving average is $159.10 and its 200 day moving average is $141.43.Cadence Design Systems  has a 12 month low of $105.93 and a 12 month high of $170.82. While on yearly highs and lows, Cadence Design Systems today has traded high as $170.82 and has touched $167.79 on the downward trend.

Cadence Design Systems Earnings and What to expect: 

Cadence Design Systems last posted its earnings data on October 24th, 2021. The software maker reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.05. The business had revenue of $750.90 million for the quarter, compared to analyst estimates of $741.84 million. Its revenue for the quarter was up 12.6% on a year-over-year basis. Cadence Design Systems has generated $2.11 earnings per share over the last year ($2.43 diluted earnings per share) and currently has a price-to-earnings ratio of 68.9. Earnings for Cadence Design Systems are expected to grow by 11.11% in the coming year, from $2.52 to $2.80 per share.

Earnings for Cadence Design Systems are expected to grow by 11.11% in the coming year, from $2.52 to $2.80 per share. The P/E ratio of Cadence Design Systems is 68.88, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 15.24. The P/E ratio of Cadence Design Systems is 68.88, which means that it is trading at a more expensive P/E ratio than the Computer and Technology sector average P/E ratio of about 43.62. Cadence Design Systems has a PEG Ratio of 5.68. PEG Ratios above 1 indicate that a company could be overvalued. Cadence Design Systems has a P/B Ratio of 18.72. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

Cadence Design Systems (NASDAQ:CDNS) Moving Average Technical Analysis

5 day Moving Average is $$164.93 And 5 day price change is $6.16 (3.88%)  with average volume for 5 day average is 966,585. While technical analysis for average 20 days shows significant difference, 20 day moving average is  $155.73 and 20 day price change is $12.52 (8.21%) and average 20 day moving volume is 988,786. 50 day moving average is $159.10  and 50 day price change is $13.12 ( 8.64%)  and with average volume for 50 days is : 1,046,137. 200 day moving average is $141.43  and 200 day price change is $30.30 (22.50%)  and with average volume for 200 days is : 1,438,271.

Other owners latest trading in Cadence Design Systems :

  • On 10/26/2021 shares held by Balasa Dinverno & Foltz LLC were 16,781 which equates to market value of $2.54M and appx 0.20% owners of Cadence Design Systems
  • On 10/25/2021 shares held by JJJ Advisors Inc. were 895 which equates to market value of $0.14M and appx 0.00% owners of Cadence Design Systems
  • On 10/25/2021 shares held by Jaffetilchin Investment Partners LLC were 5,896 which equates to market value of $0.89M and appx 0.10% owners of Cadence Design Systems
  • In total Institutional ownership equates to Institutional Ownership Percentage: 83.23% for Cadence Design Systems

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