Analyst Ratings for Cadence Design Systems Inc. (CDNS)

Updated: 2017-07-29

Analysts covering Cadence Design Systems Inc. (NASDAQ:CDNS) have given it a consensus rating of Overweight. About 30 days ago, CDNS was issued an average rating of Hold.

A buy rating was issued by 4 analysts, 0 issued an overweight rating, 5 gave a hold rating, 0 gave an underweight rating, and 1 issued a sell rating. Today, there are 1 more analysts optimistic about the company future as compared with 90 days ago. Meanwhile, the number of analysts pessimistic about the company has increased by 0.

A number of analysts gave price targets for CDNS. The most optimistic price target was 41, implying a possible profit of 10.78 percent. The most pessimistic price target was 32, implying potential capital losses of -13.54 percent. It is advisable to not rely only on price targets or ratings, as these can be biased for some stocks.

In the last 30 days, analysts have changed their quarterly earnings estimates downwards by an average of -1.43 percent. This can be compared with the average change in earnings estimates over the past 3 months, which is -1.43 percent. Over the past 30 days, FY earnings estimates have also changed upwards by 2.45 percent. Expanding the time horizon to 3 months, the average change in fiscal year estimates becomes 2.45 percent.

Another thing investors often look at is the level of agreement among analysts' revisions. 2 analysts have revised their quarterly estimates upwards in the past 30 days, while 3 analysts revised their estimates downwards. Over the same time period, 4 analysts revised their FY earnings estimates upwards, while 1 analysts made negative revisions to their fiscal year's estimates.

Analysts estimate earnings of CDNS to grow at a rate of 14.66 percent. It's possible to gain additional insight about growth valuation of a company by looking at the PEG ratio. Smaller PEG ratios are desirable, because that is often interpreted as the company being fairly priced relative to its growth rate. PEG ratios below 1 are often considered desirable, but many choose to perform ratio comparisons with other companies in the industry. CDNS has a PEG ratio of 2.9.

CDNS has a 52-week high of 37.51 and a 52-week low of 23.83. Currently the stock is 55.31 percent higher than its low, and 1.33 percent below the high. CDNS has a P/E ratio of 42.54. Investors typically compare the P/E ratio to a company's peers in the industry. The CDNS value stock report compares CDNS to some of its peers using value stock charts. The market cap of CDNS is $10.36 billion. CDNS's next earnings release will be on 0000-00-00, which is days away.