Stock Rating Downgrade
In the last week the Value Trend Rating for Cadence Design Systems Inc (NASDAQ: CDNS) weakened from C to D reflecting eroding fundamentals and low Appreciation Potential.
Recent Price Action
Cadence Design Systems Inc (NASDAQ: CDNS) stock declined slightly by -0.04% on 6/21/24. The stock closed at $318.39. Moreover, this decline was accompanied by unusually high trading volume at 161% of normal. The stock has been strong relative to the market over the last nine months and has risen 2.1% during the last week.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to be above the cost of capital, CDNS is expected to continue to be a major Value Builder.
Cadence Design Systems has a current Value Trend Rating of D (Negative). The Value Trend Rating reflects very contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. Cadence Design Systems has a very low Appreciation Score of 13 but a good Power Rating of 73, producing the Negative Value Trend Rating.
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