Cadence Design Systems (CDNS) Stock Forecast & Price Target

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$297.84

-3.72 (-1.23%)

(As of 10:17 AM ET)

Cadence Design Systems Consensus Analyst Rating and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Analysts' Consensus Rating

Moderate Buy
Based on 9 Analyst Ratings

Analysts' Consensus Price Target

$316.10
6.13% Upside

High Forecast	$350.00
Average Forecast	$316.10
Low Forecast	$230.00

Type	Current Forecast 4/17/23 to 4/16/24	1 Month Ago 3/18/23 to 3/17/24	3 Months Ago 1/17/23 to 1/17/24	1 Year Ago 4/17/22 to 4/17/23
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy	Moderate Buy
Strong Buy	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	7 Buy rating(s)	7 Buy rating(s)	9 Buy rating(s)	9 Buy rating(s)
Hold	2 Hold rating(s)	1 Hold rating(s)	1 Hold rating(s)	2 Hold rating(s)
Sell	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)
Consensus Price Target	$316.10	$311.33	$264.50	$213.36
Predicted Upside	6.13% Upside	7.82% Upside	15.18% Upside	17.15% Upside

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CDNS Analyst Ratings By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

CDNS Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Cadence Design Systems Stock vs. The Competition

Type	Cadence Design Systems	Computer and Technology Companies	S&P 500
Consensus Rating Score	2.78	2.58	2.49
Consensus Rating	Moderate Buy	Moderate Buy	Hold
Predicted Upside	4.16% Upside	113.00% Upside	11.22% Upside
News Sentiment Rating	Positive News	Positive News	Positive News

Recent Analyst Ratings and Stock Forecasts

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Action	Rating	Price Target	Upside/Downside on Report Date
4/16/2024	Wells Fargo & Company Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Overweight ➝ Overweight	$330.00 ➝ $350.00	+16.06%
4/15/2024	KeyCorp Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Overweight ➝ Overweight	$335.00 ➝ $340.00	+11.17%
4/4/2024	Piper Sandler Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Neutral	$334.00	+7.54%
3/6/2024	Needham & Company LLC Subscribe to MarketBeat All Access for the recommendation accuracy rating	Reiterated Rating	Buy ➝ Buy	$320.00	+4.00%
2/14/2024	Morgan Stanley Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Equal Weight ➝ Overweight	$260.00 ➝ $350.00	+18.91%
2/13/2024	Robert W. Baird Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Outperform ➝ Outperform	$289.00 ➝ $302.00	+2.18%
Get the Latest News and Ratings for CDNS and Related Stocks Enter your email address below to receive the latest news and analysts' ratings for Cadence Design Systems and its competitors with MarketBeat's FREE daily newsletter.
2/13/2024	Stifel Nicolaus Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Buy ➝ Buy	$300.00 ➝ $350.00	+14.16%
2/13/2024	Rosenblatt Securities Subscribe to MarketBeat All Access for the recommendation accuracy rating	Downgrade	Buy ➝ Neutral	$265.00 ➝ $280.00	-8.67%
10/10/2023	Bank of America Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target		$285.00 ➝ $305.00	+23.09%
4/26/2023	Deutsche Bank Aktiengesellschaft Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target		$222.00 ➝ $230.00	+12.74%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Tuesday at 10:28 AM ET.

CDNS Price Target - Frequently Asked Questions

What is Cadence Design Systems's consensus rating and price target?: According to the issued ratings of 9 analysts in the last year, the consensus rating for Cadence Design Systems stock is Moderate Buy based on the current 2 hold ratings and 7 buy ratings for CDNS. The average twelve-month price prediction for Cadence Design Systems is $316.10 with a high price target of $350.00 and a low price target of $230.00. Learn more on CDNS's analyst rating history.
Do Wall Street analysts like Cadence Design Systems more than its competitors?: Analysts like Cadence Design Systems more than other Computer and Technology companies. The consensus rating score for Cadence Design Systems is 2.78 while the average consensus rating score for computer and technology companies is 2.58. Learn more on how CDNS compares to other companies.
Is Cadence Design Systems being upgraded or downgraded by Wall Street analysts?: Over the previous 90 days, Cadence Design Systems's stock had 1 upgrade and 1 downgrade by analysts.

Does Cadence Design Systems's stock price have much upside?: According to analysts, Cadence Design Systems's stock has a predicted upside of 8.34% based on their 12-month stock forecasts.
What analysts cover Cadence Design Systems?: Cadence Design Systems has been rated by KeyCorp, Morgan Stanley, Needham & Company LLC, Piper Sandler, Robert W. Baird, Rosenblatt Securities, Stifel Nicolaus, and Wells Fargo & Company in the past 90 days.

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This page (NASDAQ:CDNS) was last updated on 4/16/2024 by MarketBeat.com Staff

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Cadence Design Systems (CDNS) Stock Forecast & Price Target

Cadence Design Systems Consensus Analyst Rating and Stock Price Forecast (2024)

Analysts' Consensus Rating

Analysts' Consensus Price Target

CDNS Analyst Ratings By Month

CDNS Price Targets by Month

Cadence Design Systems Stock vs. The Competition

Recent Analyst Ratings and Stock Forecasts

CDNS Price Target - Frequently Asked Questions

Stock Ratings Reports and Tools

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