Cadence Design Systems had a rough day and is now down -6.05%. Investors weren't too impressed with the future outlook for the Application Software company which caused some selling on weak demand. It looks like CDNS may be interacting with a downward sloping resistance line. This may be an opportunity to short sell. Momentum wise Cadence Design Systems, hasn't been very high in either direction over the last 3 month. So hard to say what it will do here.
If the price breaks through the resistance level it will probably move up to the $289.46 level where it may meet further resistance. If the price does in fact bounce off here, it might find nearest support down at the $233.96 level, hard to say where it will go from there though.
The analysts are pretty neutral on Cadence Design Systems right now, so not much useful information here. The current Analysts Sentiment Score is 2.59. Most companies range between (-200 to 200).
Here's a break down of the latest rating changes. Rosenblatt Securities reiterated a rating of Neutral on 2024-04-22 and added a price target of $280.00. Needham & Company LLC announced that they are reiterating a rating of Buy on 2024-04-19 and they set their price target at $320.00. Robert W. Baird provided a price target boost of 6.62% to $322.00 from $302.00 on 2024-04-18. Wells Fargo & Company boosted their price targ by 6.06% to $350.00 on 2024-04-16. KeyCorp provided a price target boost of 1.49% to $340.00 from $335.00 on 2024-04-15. Piper Sandler initiated a rating of Neutral on 2024-04-04 and added a price target of $334.00. On 2024-02-14 Morgan Stanley upgraded Cadence Design Systems from Equal Weight to Overweight and moved up their price target to $350.00 which is a 34.62% increase. On 2024-02-13 Stifel Nicolaus increased their price target by 16.67% to $350.00. Bank of America gave a boost to their price target and moved to $305.00 from $285.00 on 2023-10-10. Deutsche Bank Aktiengesel gave a boost to their price target and moved to $230.00 from $222.00 on 2023-04-26.
| Company | Ratings Score
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Composite analyst sentiment score
|
Positive Ratings | Negative Ratings | Boost Price Target | Lower Price Target |
|---|---|---|---|---|---|
| CDNS | 2.59 | 3.01 | 0 | 2.35 | -0.18 |
| Company | YOY Growth Score (typical -20 to +20) | Revision Directions (-6 to +6) |
|---|---|---|
| CDNS | 0.00 | 0.00 |
We take into account several different measures of short interest to create a composite score. These measures are shown in the chart below. Short selling is when investors are betting against a stock. We compile these factors to create a dynamic Short Score - this can indicate poor sentiment, internal problems with a company or industry and the anticipation of future price declines. We look at the short interest percent, days to cover, the rate of change and total shares sold short.
| Company | Short Score (typical 1-15)
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We take into account several different measures and attributes of short interest to create a composite sentiment score. typical range (0 - 30)
|
Short Interest | Days to Cover | Rate of Change | Shares Short |
|---|---|---|---|---|---|
| CDNS | 1.52 | %1 | 2.1 | -3.234 | 2630000 |
| Segment | Count | 1 Day% | 5 Day | 1 Month | 3 Month | 6 Month | 1 Year | RSI | 3mo S-momo ? | 6mo S-momo | 1yr S-momo | Resistance ? | Support | Demark Sell ? | Demark Buy | Short Interest | Analysts Ratings ? |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Application Software | 106 | -4.81 | -3.60 | -8.17 | -14.21 | -7.16 | -1.64 | 46.14 | -2.13 | -0.64 | 3.57 | -16441.75 | -8028.36 | 20.99 | 2.59 | 4.33 | 1.57 |
| Technology | 278 | -7.07 | -6.18 | -10.62 | -18.08 | -12.10 | -7.65 | 42.99 | -11.25 | -8.55 | -3.83 | -18184.66 | -7194.25 | 19.06 | 0.99 | 4.45 | 1.36 |
Social Sentiment is an aggregation of several different factors such as news, articles, blogs, user content, ratings, etc. Which is shown in the chart below. It may become predictive of a reversal if price and the sentiment diverge. Broader market forces may push prices up or down but if market participants maintain a different view on a specific stock, it may be taken as an opportunity to buy or sell in those cases.
| Ticker | Social Sentiment(1-10) |
|---|---|
| CDNS |
| Company | Score | 1 Day% | 5 Day | 1 Month | 3 Month | 6 Month | 1 Year | RSI | 3mo S-momo ? | 6mo S-momo | 1yr S-momo | Resistance ? | Support | Demark Sell ? | Demark Buy | Short Interest Score |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| SNPS | Synopsys Inc | 2.22 | -4.74 | -4.61 | -7.35 | -14.33 | -15.91 | -27.83 | 41 | -20.79 | -21.76 | -29.76 | -23826.45 | -328.15 | 0 | 0 | 1.89543 |
| ANSS | Ansys Inc | 1.78 | -3.26 | -2.03 | -4.66 | -7.57 | -2.21 | -10.47 | 36 | -1.73 | -2.57 | -0.97 | -11944.57 | -4179.84 | 0 | 0 | 1.55496 |
| NOW | SERVICENOW, INC. | 1.52 | -6.06 | -2.97 | -9.00 | -26.57 | -12.08 | 1.96 | 41 | -5.02 | -3.21 | -1.58 | -6302.99 | -8994.18 | 0 | 0 | 1.73847 |
| MSCI | MSCI, Inc. | 1.49 | -5.52 | -2.56 | -3.15 | -7.97 | -7.82 | 0.77 | 49 | 0.60 | 0.33 | 3.80 | -2791.86 | -1604.54 | 0 | 0 | 1.06893 |
| ADBE | Adobe Inc. | 1.46 | -4.80 | -4.79 | -18.28 | -13.10 | -27.39 | -26.11 | 44 | -32.51 | -30.36 | -16.53 | -23798.02 | -455.28 | 0 | 0 | 1.07899 |
| KEYS | Keysight Technologies, In | 1.37 | -10.53 | -9.71 | -12.93 | -18.30 | -12.82 | -13.05 | 44 | 0.78 | 0.24 | 5.78 | -5693.48 | -2662.90 | 100 | 0 | 2.22888 |
| SPGI | S&P Global Inc. | 1.36 | -4.79 | -2.61 | -1.53 | -0.40 | -4.92 | 14.75 | 64 | 4.80 | 4.19 | 16.90 | -2525.25 | -1758.47 | 100 | 0 | 1.19234 |
| TRMB | Trimble Inc. Common Stock | 1.33 | -9.37 | -8.00 | -12.71 | -16.30 | -3.52 | -3.32 | 29 | 6.25 | 16.26 | 22.96 | -4231.55 | 179.93 | 0 | 0 | 1.46569 |
How to use: use the research links to research the asset. Then simply type in a score for each category between (01, 02, 03, 04, 05). 05 being the most bullish and 01 being the most bearish. It will automatically calculate the average and combine it with the technical score to create an overall score to rank prospects by. You can also type notes into each field.
