Cadence Design Systems, Inc. (CDNS)
NASDAQ: CDNS · Real-Time Price · USD
306.68
+2.67 (0.88%)
Nov 21, 2024, 2:49 PM EST - Market open
Cadence Design Systems Stock Forecast
Stock Price Forecast
The 12 analysts with 12-month price forecasts for CDNS stock have an average target of 324, with a low estimate of 225 and a high estimate of 360. The average target predicts an increase of 5.65% from the current stock price of 306.68.
Analyst Consensus: Buy
Analyst Ratings
The average analyst rating for CDNS stock from 12 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 | Jun '24 | Jul '24 | Aug '24 | Sep '24 | Oct '24 | Nov '24 |
|---|---|---|---|---|---|---|
| Strong Buy | 3 | 3 | 3 | 3 | 4 | 5 |
| Buy | 4 | 4 | 5 | 5 | 6 | 5 |
| Hold | 2 | 2 | 1 | 1 | 1 | 1 |
| Sell | 0 | 0 | 0 | 1 | 1 | 1 |
| Strong Sell | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 9 | 9 | 9 | 10 | 12 | 12 |
Latest Forecasts
| Analyst | Firm | Rating | Rating | Action | Price Target | Upside | Date |
|---|---|---|---|---|---|---|---|
| Loop Capital | Loop Capital | Strong Buy Initiates $360 | Strong Buy | Initiates | $360 | +17.39% | Nov 11, 2024 |
| Rosenblatt | Rosenblatt | Hold Maintains $280 | Hold | Maintains | $280 | -8.70% | Oct 29, 2024 |
| Baird | Baird | Buy Maintains $332 → $340 | Buy | Maintains | $332 → $340 | +10.87% | Oct 29, 2024 |
| Needham | Needham | Strong Buy Maintains $320 → $315 | Strong Buy | Maintains | $320 → $315 | +2.71% | Oct 29, 2024 |
| Mizuho | Mizuho | Buy Initiates $325 | Buy | Initiates | $325 | +5.98% | Oct 22, 2024 |
Financial Forecast
Revenue This Year
4.73B
from 4.09B
Increased by 15.62%
Revenue Next Year
5.35B
from 4.73B
Increased by 13.22%
EPS This Year
6.04
from 3.82
Increased by 58.21%
EPS Next Year
6.99
from 6.04
Increased by 15.60%
Revenue Forecast
| Revenue | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|
| High | 4.9B | 5.6B | 6.5B | ||
| Avg | 4.7B | 5.4B | 6.0B | ||
| Low | 4.5B | 5.0B | 5.5B |
Revenue Growth
| Revenue Growth | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|
| High | 19.9% | 19.3% | 21.1% | ||
| Avg | 15.6% | 13.2% | 12.5% | ||
| Low | 10.8% | 6.1% | 2.2% |
EPS Forecast
| EPS | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|
| High | 6.30 | 7.52 | 9.21 | ||
| Avg | 6.04 | 6.99 | 8.06 | ||
| Low | 5.78 | 6.34 | 6.53 |
EPS Growth
| EPS Growth | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|
| High | 64.9% | 24.4% | 31.8% | ||
| Avg | 58.2% | 15.6% | 15.4% | ||
| Low | 51.4% | 4.9% | -6.6% |
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.