Do Analysts Agree Thursday on Cadence Design Systems Inc (CDNS) Stock's Target Price?

Wall Street is positive on Cadence Design Systems Inc (CDNS). On average, analysts give Cadence Design Systems Inc a Strong Buy rating. The average price target is $172.545, which means analysts expect the stock to fall by -5.35% over the next twelve months. That average ranking earns Cadence Design Systems Inc an Analyst Rating of 59, which is better than 59% of stocks based on data compiled by InvestorsObserver.

Wall Street analysts are rating CDNS a Strong Buy today. Find out what this means to you and get the rest of the rankings on CDNS!

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Why are Analyst Ratings Important?

You can learn a lot about a company from looking at it’s financial statements and comparing them to other companies. Analysts who cover an industry in depth can add even more to your research though. They typically follow a particular sector or industry very closely. They also pay attention to and ask questions on earnings conference calls and other events where they might learn information that does show up in the numbers. InvestorsObserver takes the average rating from these analysts, and then percentile ranks those averages. This lets you compare stocks in a much more granular way than just seeing the typical five-tiered rating system used on most of Wall Street.

What's Happening With Cadence Design Systems Inc Stock Today?

Cadence Design Systems Inc (CDNS) stock is trading at $182.30 as of 11:00 AM on Thursday, Dec 2, a gain of $7.24, or 4.14% from the previous closing price of $175.05. The stock has traded between $177.55 and $184.21 so far today. Volume today is below average. So far 359,833 shares have traded compared to average volume of 1,235,934 shares. Click Here to get the full Stock Report for Cadence Design Systems Inc stock.