Free Trial

Cadence Design Systems (CDNS) Stock Forecast & Price Target

$296.21
+1.93 (+0.66%)
(As of 05/28/2024 ET)

Cadence Design Systems - Analysts' Recommendations 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.

Consensus Rating

Moderate Buy
Based on 9 Analyst Ratings

Consensus Price Target

$326.11
10.09% Upside
High Forecast$350.00
Average Forecast$326.11
Low Forecast$280.00
TypeCurrent Forecast
5/30/23 to 5/29/24
1 Month Ago
4/30/23 to 4/29/24
3 Months Ago
3/1/23 to 2/29/24
1 Year Ago
5/30/22 to 5/30/23
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)
7 Buy rating(s)
9 Buy rating(s)
Hold
2 Hold rating(s)
2 Hold rating(s)
1 Hold rating(s)
1 Hold rating(s)
Sell
0 Sell rating(s)
0 Sell rating(s)
0 Sell rating(s)
0 Sell rating(s)
Consensus Price Target$326.11$326.11$311.33$220.80
Forecasted Upside10.09% Upside13.14% Upside7.87% Upside16.48% Upside
Get Cadence Design Systems Upgrade and Downgrade Alerts

Sign-up to receive the latest news and ratings for CDNS and its competitors with MarketBeat's FREE daily newsletter.

CDNS Analyst Recommendations 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.
Skip Chart & View Analyst Rating History

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.
Skip Chart and View Analyst Price Target HistorySkip Chart & View Price History Table

Cadence Design Systems Stock vs. The Competition

TypeCadence Design SystemsComputer and Technology CompaniesS&P 500
Consensus Rating Score
2.78
2.58
2.49
Consensus RatingModerate BuyModerate BuyHold
Predicted Upside10.09% Upside192.18% Upside10.81% Upside
News Sentiment RatingPositive News
Positive News
Positive News

Recent Analyst Forecasts and Stock Ratings

DateBrokerageAnalyst NameActionRatingPrice TargetUpside/Downside on Report DateDetails
5/17/2024Needham & Company LLC
Subscribe to MarketBeat All Access for the recommendation accuracy rating
 Reiterated RatingBuy ➝ Buy$320.00+10.75%
4/23/2024Piper Sandler
Subscribe to MarketBeat All Access for the recommendation accuracy rating
 Lower TargetNeutral ➝ Neutral$334.00 ➝ $318.00+11.57%
4/22/2024Rosenblatt Securities
Subscribe to MarketBeat All Access for the recommendation accuracy rating
 Reiterated RatingNeutral ➝ Neutral$280.00-0.09%
4/18/2024Robert W. Baird
Subscribe to MarketBeat All Access for the recommendation accuracy rating
 Boost TargetOutperform ➝ Outperform$302.00 ➝ $322.00+9.63%
4/16/2024Wells Fargo & Company
Subscribe to MarketBeat All Access for the recommendation accuracy rating
 Boost TargetOverweight ➝ Overweight$330.00 ➝ $350.00+16.06%
4/15/2024KeyCorp
Subscribe to MarketBeat All Access for the recommendation accuracy rating
 Boost TargetOverweight ➝ Overweight$335.00 ➝ $340.00+11.17%
2/14/2024Morgan Stanley
Subscribe to MarketBeat All Access for the recommendation accuracy rating
 UpgradeEqual Weight ➝ Overweight$260.00 ➝ $350.00+18.91%
2/13/2024Stifel Nicolaus
Subscribe to MarketBeat All Access for the recommendation accuracy rating
 Boost TargetBuy ➝ Buy$300.00 ➝ $350.00+14.16%
10/10/2023Bank of America
Subscribe to MarketBeat All Access for the recommendation accuracy rating
 Boost Target$285.00 ➝ $305.00+23.09%
4/26/2023Deutsche Bank Aktiengesellschaft
Subscribe to MarketBeat All Access for the recommendation accuracy rating
 Boost Target$222.00 ➝ $230.00+12.74%
1/17/2023Atlantic Securities
Subscribe to MarketBeat All Access for the recommendation accuracy rating
 UpgradeNeutral ➝ Overweight$200.00+18.16%
8/16/2022Wolfe Research
Subscribe to MarketBeat All Access for the recommendation accuracy rating
 Initiated CoverageOutperform$210.00+9.02%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Wednesday at 08:49 AM ET.

CDNS Frequently Asked Questions

What is Cadence Design Systems's stock forecast and purchase recommendation?

According to the research reports of 9 Wall Street equities research analysts, the average twelve-month stock price forecast for Cadence Design Systems is $326.11, with a high forecast of $350.00 and a low forecast of $280.00. The consensus rating for Cadence Design Systems stock is Moderate Buy based on the current 2 hold ratings and 7 buy ratings for CDNS. 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 2.59. Learn more on how CDNS compares to other companies.

Does Cadence Design Systems's stock price have much upside?

According to analysts, Cadence Design Systems's stock has a predicted upside of 13.00% based on their 12-month stock forecasts.

What analysts cover Cadence Design Systems?

Cadence Design Systems has been rated by research analysts at KeyCorp, Needham & Company LLC, Piper Sandler, Robert W. Baird, Rosenblatt Securities, and Wells Fargo & Company in the past 90 days.


Stock Forecasts and Research Tools

This page (NASDAQ:CDNS) was last updated on 5/29/2024 by MarketBeat.com Staff

From Our Partners