CDNS Price Prediction Next Week
Based on the provided data and technical analysis, here is the prediction for CDNS stock price for next trading week:
Technical Analysis
- RSI at 61.85 indicates moderate bullish momentum without being overbought
- MACD at 3.69 shows positive momentum
- Current price is trading above both SMA-20 (305.35) and SMA-200 (288.40), confirming uptrend
- Fibonacci support levels at 293.19 and resistance at 320.72
News Sentiment Analysis
- Strong analyst consensus with "Strong Buy" rating
- Recent price target raised to $355 by Berenberg Bank, indicating 10.24% upside potential
- Q4 earnings release scheduled for February 18, 2025, with analysts expecting EPS of $1.51, up 42.5% YoY
- Company showing solid growth in System Design & Analysis segment and AI portfolio
Price Prediction for Next Week Based on technical indicators and positive news sentiment:
- Support level: $293-295
- Resistance level: $320-322
- Most likely price range: $305-315
Target price: $312 by end of next week
Trading Recommendation: BUY
- Entry point: Current price around $302
- Stop loss: $293 (below Fibonacci S1)
- Take profit: $320 (near Fibonacci R1)
Rationale:
- Strong technical uptrend with key moving averages support
- Positive analyst sentiment and upcoming earnings catalyst
- Growing AI portfolio and system design segment momentum
- RSI indicates room for further upside without being overbought
CDNS Similar Chart Price Prediction
The price of CDNS is predicted to go up 7.84%, based on the high correlation periods with ELS. The similarity of these two price pattern on the periods is 91.64%.
CDNS
ELS
Up: 7.84%Similarity: 91.64%
CDNS Revenue Forecast
CDNS EPS Forecast
CDNS FAQs
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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
Lachlan Brown
Redburn Atlantic
Strong Buy
Price Target
$350
Upside
+19.66%
Redburn Atlantic initiated coverage of Cadence Design with a Buy rating and $350 price target as the firm launched coverage of the two "leaders" in Electronic Design Automation. The firm highlighted three "structural growth drivers that will underpin EDA market growth for the remainder of the decade," including ASIC/hyperscaler design flows, monetization of GenAI tools and the proliferation of multi-die designs.
Siti Panigrahi
Mizuho
Buy
Price Target
$325 → $350
Upside
+14.11%
Joe Quatrochi
Wells Fargo
Buy
Price Target
$350
Upside
+12.23%