Cadence Design Systems, Inc. (CDNS)
NASDAQ: CDNS · IEX Real-Time Price · USD
285.90
-7.81 (-2.66%)
At close: Apr 18, 2024, 4:00 PM
284.00
-1.90 (-0.66%)
Pre-market: Apr 19, 2024, 7:00 AM EDT
Cadence Design Systems Stock Forecast
Stock Price Forecast
The 9 analysts with 12-month price forecasts for CDNS stock have an average target of 320.11, with a low estimate of 230 and a high estimate of 350. The average target predicts an increase of 11.97% from the current stock price of 285.90.
Analyst Consensus: Strong Buy
Analyst Ratings
The average analyst rating for CDNS stock from 10 stock analysts is "Strong Buy". This means that analysts believe this stock is likely to perform very well in the near future and significantly outperform the market.
Recommendation Trends
| Rating | Nov '23 | Dec '23 | Jan '24 | Feb '24 | Mar '24 | Apr '24 |
|---|---|---|---|---|---|---|
| Strong Buy | 5 | 5 | 5 | 4 | 4 | 4 |
| Buy | 4 | 4 | 4 | 4 | 4 | 4 |
| Hold | 1 | 1 | 1 | 1 | 1 | 2 |
| Sell | 0 | 0 | 0 | 0 | 0 | 0 |
| Strong Sell | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 10 | 10 | 10 | 9 | 9 | 10 |
Latest Forecasts
| Analyst | Firm | Rating | Rating | Action | Price Target | Upside | Date |
|---|---|---|---|---|---|---|---|
| Needham | Needham | Strong Buy Reiterates $320 | Strong Buy | Reiterates | $320 | +11.93% | Apr 19, 2024 |
| Baird | Baird | Buy Maintains $302 → $322 | Buy | Maintains | $302 → $322 | +12.63% | Apr 18, 2024 |
| Wells Fargo | Wells Fargo | Buy Maintains $330 → $350 | Buy | Maintains | $330 → $350 | +22.42% | Apr 16, 2024 |
| Keybanc | Keybanc | Buy Maintains $335 → $340 | Buy | Maintains | $335 → $340 | +18.92% | Apr 15, 2024 |
| Piper Sandler | Piper Sandler | Hold Initiates $334 | Hold | Initiates | $334 | +16.82% | Apr 4, 2024 |
Financial Forecast
Revenue This Year
4.68B
from 4.09B
Increased by 14.45%
Revenue Next Year
5.29B
from 4.68B
Increased by 13.01%
EPS This Year
6.06
from 3.82
Increased by 58.51%
EPS Next Year
7.08
from 6.06
Increased by 16.96%
Revenue Forecast
| Revenue | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|
| High | 4.9B | 5.6B | 6.4B | 7.0B |
| Avg | 4.7B | 5.3B | 6.1B | 6.6B |
| Low | 4.5B | 4.8B | 5.8B | 6.1B |
Revenue Growth
| Revenue Growth | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|
| High | 19.8% | 20.0% | 20.7% | 14.8% |
| Avg | 14.5% | 13.0% | 15.0% | 8.2% |
| Low | 9.2% | 3.3% | 8.7% | 0.8% |
EPS Forecast
| EPS | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|
| High | 6.30 | 8.15 | 9.64 | 9.94 |
| Avg | 6.06 | 7.08 | 8.69 | 9.66 |
| Low | 5.75 | 6.17 | 7.75 | 9.28 |
EPS Growth
| EPS Growth | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|
| High | 64.9% | 34.6% | 36.1% | 14.4% |
| Avg | 58.5% | 17.0% | 22.8% | 11.1% |
| Low | 50.6% | 2.0% | 9.5% | 6.8% |
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.