Cadence Design Systems Inc's fundamentals are relatively very healthy, and its growth potential is high.Its valuation is considered fairly valued, ranking 48 out of 483 in the Software & IT Services industry.Institutional ownership is very high.Over the past month, multiple analysts have rated it as Buy, with the highest price target at 381.11.In the medium term, the stock price is expected to trend down.Despite an average stock market performance over the past month, the company shows strong fundamentals and technicals.The stock price is trading sideways between the support and resistance levels, making it suitable for range-bound swing trading.
Media Coverage
The current financial score of Cadence Design Systems Inc is 8.77, ranking 44 out of 483 in the Software & IT Services industry. Its financial status is robust, and its operating efficiency is high. Its latest quarterly revenue reached 1.34B, representing a year-over-year increase of 10.15%, while its net profit experienced a year-over-year increase of 20.58%.
Key Metrics
The current valuation score of Cadence Design Systems Inc is 4.47, ranking 466 out of 483 in the Software & IT Services industry. Its current P/E ratio is 75.86, which is 32.21% below the recent high of 100.30 and 33.97% above the recent low of 50.09.
The current earnings forecast score of Cadence Design Systems Inc is 8.15, ranking 94 out of 483 in the Software & IT Services industry. The average price target is 390.00, with a high of 418.00 and a low of 275.00.
Data disclaimer: Analyst ratings and target prices are provided by LSEG for informational purposes only and do not constitute investment advice.
The current price momentum score of Cadence Design Systems Inc is 6.54, ranking 274 out of 483 in the Software & IT Services industry. Currently, the stock price is trading between the resistance level at 318.85 and the support level at 283.65, making it suitable for range-bound swing trading.
The Indicators feature provides value and direction analysis for various instruments under a selection of technical indicators, together with a technical summary.
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Please note that technical analysis is only part of investment reference, and there is no absolute standard for using numerical values to assess direction. The results are for reference only, and we are not responsible for the accuracy of the indicator calculations and summaries.
The current institutional shareholding score of Cadence Design Systems Inc is 10.00, ranking 1 out of 483 in the Software & IT Services industry. The latest institutional shareholding proportion is 95.12%, representing a quarter-over-quarter increase of 0.02%. The largest institutional shareholder is The Vanguard, holding a total of 27.10M shares, representing 9.96% of shares outstanding, with 3.69% increase in holdings.
The U.S. Dollar Index is currently in a neutral state, which has a neutral effect on the Software & IT Services domestic-focused industry. The Dollar Index (DXY) measures the value of the U.S. dollar against a basket of major currencies, including the euro, yen, pound sterling, Canadian dollar, Swedish krona, and Swiss franc. The current risk assessment score of Cadence Design Systems Inc is 7.92, ranking 56 out of 483 in the Software & IT Services industry. The company's beta value is 1.01. This indicates that the stock tends to outperform the index during upward trending markets but experiences larger declines during downward trending markets.
