Stock Rating Downgrade
Of late 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
On 7/29/24, Cadence Design Systems Inc (NASDAQ: CDNS) stock rose slightly by 0.1%, closing at $259.05. However, normal trading volume at 83% of normal accompanied the advance. The stock has been strong relative to the market over the last nine months but has declined -7.5% 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). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing contradictory signals. Cadence Design Systems has a poor Appreciation Score of 19 but a slightly positive Power Rating of 65, leading to the Negative Value Trend Rating.
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