Cadence Design Systems, Inc. (CDNS)
NASDAQ: CDNS · IEX Real-Time Price · USD
316.78
+5.86 (1.88%)
Jul 2, 2024, 4:00 PM EDT - Market closed
Cadence Design Systems Stock Forecast
Stock Price Forecast
The 9 analysts with 12-month price forecasts for CDNS stock have an average target of 334.89, with a low estimate of 280 and a high estimate of 355. The average target predicts an increase of 5.72% from the current stock price of 316.78.
Analyst Consensus: Buy
Analyst Ratings
The average analyst rating for CDNS stock from 9 stock analysts is "Buy". This means that analysts believe this stock is likely to outperform the market over the next twelve months.
Recommendation Trends
| Rating | Feb '24 | Mar '24 | Apr '24 | May '24 | Jun '24 | Jul '24 |
|---|---|---|---|---|---|---|
| Strong Buy | 4 | 4 | 4 | 3 | 3 | 3 |
| Buy | 4 | 4 | 4 | 4 | 4 | 4 |
| Hold | 1 | 1 | 2 | 2 | 2 | 2 |
| Sell | 0 | 0 | 0 | 0 | 0 | 0 |
| Strong Sell | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 9 | 9 | 10 | 9 | 9 | 9 |
Latest Forecasts
| Analyst | Firm | Rating | Rating | Action | Price Target | Upside | Date |
|---|---|---|---|---|---|---|---|
| Baird | Baird | Buy Maintains $322 → $341 | Buy | Maintains | $322 → $341 | +7.65% | Jul 2, 2024 |
| Keybanc | Keybanc | Buy Maintains $350 → $355 | Buy | Maintains | $350 → $355 | +12.07% | Jun 27, 2024 |
| B of A Securities | B of A Securities | Strong Buy Maintains $330 → $350 | Strong Buy | Maintains | $330 → $350 | +10.49% | May 30, 2024 |
| Needham | Needham | Strong Buy Reiterates $320 | Strong Buy | Reiterates | $320 | +1.02% | May 17, 2024 |
| Needham | Needham | Strong Buy Reiterates $320 | Strong Buy | Reiterates | $320 | +1.02% | Apr 23, 2024 |
Financial Forecast
Revenue This Year
4.69B
from 4.09B
Increased by 14.57%
Revenue Next Year
5.30B
from 4.69B
Increased by 13.06%
EPS This Year
6.05
from 3.82
Increased by 58.35%
EPS Next Year
7.06
from 6.05
Increased by 16.78%
Revenue Forecast
| Revenue | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|
| High | 4.9B | 5.6B | 6.4B | 7.2B | 8.2B |
| Avg | 4.7B | 5.3B | 6.0B | 7.0B | 7.9B |
| Low | 4.5B | 5.0B | 5.6B | 6.7B | 7.6B |
Revenue Growth
| Revenue Growth | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|
| High | 19.7% | 18.5% | 20.5% | 19.3% | 17.0% |
| Avg | 14.6% | 13.1% | 14.1% | 15.2% | 13.5% |
| Low | 9.4% | 5.9% | 6.3% | 10.0% | 8.9% |
EPS Forecast
| EPS | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|
| High | 6.29 | 7.50 | 9.11 | 10.85 | 12.41 |
| Avg | 6.05 | 7.06 | 8.42 | 10.54 | 12.06 |
| Low | 5.76 | 6.37 | 7.59 | 10.12 | 11.58 |
EPS Growth
| EPS Growth | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|
| High | 64.6% | 23.9% | 29.0% | 28.8% | 17.8% |
| Avg | 58.4% | 16.8% | 19.2% | 25.2% | 14.4% |
| Low | 50.8% | 5.3% | 7.4% | 20.2% | 9.9% |
Sources: Price targets and analyst ratings provided by Benzinga. Revenue and EPS forecast data provided by Finnhub. The data is sourced from Wall Street analysts. Data disclaimer.