CDNS Price Prediction Next Week
Based on the provided data and recent market developments, here's a comprehensive analysis for CDNS's price prediction for next week:
Technical Analysis
The technical indicators show bearish signals:
- RSI-14 at 28.75 indicates oversold conditions
- MACD is negative at -7.40 with divergence line at -4.15
- Stock trading below all major moving averages (5,10,20-day)
- Bollinger Bands show price near lower band (254.95), suggesting potential support level
Recent Price Action
- Current price: $258.90
- Significant drop of -4.40% in regular trading session
- Post-market showed minimal recovery of +0.12%
- Trading volume increased to 4.55M shares, indicating strong selling pressure
Fundamental Catalysts According to recent earnings report:
- Q4 2024 EPS of $1.88 beat estimates of $1.82
- FY2025 guidance came in below expectations:
- Revenue guidance: $5.14B-$5.22B
- Adjusted EPS guidance: $6.65-$6.75
- Record backlog of $6.8B indicates strong future demand
Price Targets for Next Week Based on Fibonacci levels:
- Resistance levels: $285.49 (pivot), $305.76 (R1), $318.28 (R2)
- Support levels: $265.22 (S1), $252.70 (S2)
Trading Recommendation SELL with target prices:
- First target: $252.70 (S2)
- Second target: $232.43 (S3)
- Stop loss: $270.44 (recent high)
Rationale:
- Weak guidance for FY2025 will likely continue pressuring the stock
- Technical indicators showing strong bearish momentum
- Breaking below key support levels with increased volume
- Market sentiment remains cautious on high-valuation tech stocks
The stock is expected to continue its downward trend next week, potentially testing support levels around $252-$255 range before any significant technical bounce.
CDNS Similar Chart Price Prediction
The price of CDNS is predicted to go up 9.24%, based on the high correlation periods with ODV. The similarity of these two price pattern on the periods is 92.33%.
CDNS
ODV
Up: 9.24%Similarity: 92.33%
CDNS Revenue Forecast
CDNS EPS Forecast
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CDNS VS S&P500
Secular tailwinds in chip design such as 5G, Inernet of Things, AI/ML, and others should increase demand for EDA tools and support growth for Cadence.
The growing system design and analysis business enables a larger TAM for Cadence and serves an expanding system-level design market as SoCs and advanced packaging become more important.
Cadence is the market leader in analog EDA tools, holding over 80% of the market share for more than two decades, which we believe adds incremental stickiness to the firm's overall EDA portfolio.
CDNS Analyst's Forecast
Joe Vruwink
Baird
Buy
2025-02-20
Price Target
$340 → $335
Upside
+24%
Baird lowered the firm's price target on Cadence Design to $335 from $340 and keeps an Outperform rating on the shares. The firm updated its model following Q4 results where a big backlog continues as well as expectations for upside to its 2025 outlook.
Blair Abernethy
Rosenblatt
Hold
2025-02-19
Price Target
$280 → $295
Upside
+7.65%
Clarke Jeffries
Piper Sandler
Buy
2025-02-19
Price Target
$318 → $328
Upside
+19.69%
