Cadence Design Systems, Inc. (CDNS)
NASDAQ: CDNS · IEX Real-Time Price · USD
292.55
+3.74 (1.29%)
May 20, 2024, 3:59 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 323.89, with a low estimate of 280 and a high estimate of 350. The average target predicts an increase of 10.71% from the current stock price of 292.55.
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 | Dec '23 | Jan '24 | Feb '24 | Mar '24 | Apr '24 | May '24 |
|---|---|---|---|---|---|---|
| Strong Buy | 5 | 5 | 4 | 4 | 4 | 3 |
| Buy | 4 | 4 | 4 | 4 | 4 | 4 |
| Hold | 1 | 1 | 1 | 1 | 2 | 2 |
| Sell | 0 | 0 | 0 | 0 | 0 | 0 |
| Strong Sell | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 10 | 10 | 9 | 9 | 10 | 9 |
Latest Forecasts
| Analyst | Firm | Rating | Rating | Action | Price Target | Upside | Date |
|---|---|---|---|---|---|---|---|
| Needham | Needham | Strong Buy Reiterates $320 | Strong Buy | Reiterates | $320 | +9.38% | May 17, 2024 |
| Needham | Needham | Strong Buy Reiterates $320 | Strong Buy | Reiterates | $320 | +9.38% | Apr 23, 2024 |
| Piper Sandler | Piper Sandler | Hold Maintains $334 → $318 | Hold | Maintains | $334 → $318 | +8.70% | Apr 23, 2024 |
| Rosenblatt | Rosenblatt | Hold Maintains $280 | Hold | Maintains | $280 | -4.29% | Apr 22, 2024 |
| Baird | Baird | Buy Maintains $302 → $322 | Buy | Maintains | $302 → $322 | +10.07% | Apr 19, 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 | 2028 |
|---|---|---|---|---|---|
| High | 4.9B | 5.6B | 6.4B | 7.2B | 8.2B |
| Avg | 4.7B | 5.3B | 6.1B | 7.0B | 7.9B |
| Low | 4.5B | 4.8B | 5.8B | 6.7B | 7.6B |
Revenue Growth
| Revenue Growth | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|
| High | 19.8% | 20.0% | 20.7% | 18.6% | 16.3% |
| Avg | 14.5% | 13.0% | 15.0% | 15.2% | 13.0% |
| Low | 9.2% | 3.3% | 8.7% | 10.7% | 8.6% |
EPS Forecast
| EPS | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|
| High | 6.30 | 8.15 | 9.64 | 10.85 | 12.41 |
| Avg | 6.06 | 7.08 | 8.69 | 10.54 | 12.06 |
| Low | 5.75 | 6.17 | 7.75 | 10.12 | 11.58 |
EPS Growth
| EPS Growth | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|
| High | 64.9% | 34.6% | 36.1% | 24.8% | 17.8% |
| Avg | 58.5% | 17.0% | 22.8% | 21.2% | 14.4% |
| Low | 50.6% | 2.0% | 9.5% | 16.5% | 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.