WallStreetZenWallStreetZen

How to Buy Cadence Design Systems Stock

Cadence Design Systems Inc

Cadence Design Systems, Inc. provides software, hardware, services, and reusable integrated circuit (IC) design blocks worldwide. The company offers functional verification services, including emulation and prototyping hardware.

Cadence Design Systems stock last closed at $305.57, up 5.09% from the previous day, and has increased 57.52% in one year. It has overperformed other stocks in the Software - Application industry by 0.29 percentage points. Cadence Design Systems stock is currently +61.42% from its 52-week low of $189.30, and -3.21% from its 52-week high of $315.70.

As of Feb 22, 2024, there are 272.24M CDNS shares outstanding. The market cap of CDNS is $83.19B. In the last 24 hours, 2.16M CDNS shares were traded.

How to Buy Cadence Design Systems Stock

Not sure how to invest in Cadence Design Systems stock? Here's how.
  1. Decide where to buy Cadence Design Systems stock: You need to pick an online brokerage, but don't worry - we've researched dozens of online stock brokerages and apps to help you figure out where to buy Cadence Design Systems stock.
  2. Create a brokerage account: Sign up for 0% fee trading with the highest-rated brokerage we've selected.
  3. Put funds into your brokerage account: Select your method of payment and add your info.
  4. Analyze Cadence Design Systems stock: The Cadence Design Systems ticker symbol is CDNS. Is Cadence Design Systems stock a good investment? Should you buy shares of CDNS? How do CDNS's underlying business fundamentals look? Do top analysts think Cadence Design Systems is a good buy? Why has CDNS's stock price moved recently? (Hint: Our stock market analysis tools can help you decide if CDNS is a good stock to buy).
  5. Place your CDNS buy order: Decide if you will purchase CDNS shares at the current market price or use a limit order to buy CDNS shares at a specific price.
  6. Keep an eye on your CDNS position: Create a watchlist to get the latest news on your position in Cadence Design Systems shares.

Step 1: Decide where to buy Cadence Design Systems stock

You will need a brokerage account to access the NASDAQ market and buy CDNS stock.

A brokerage account is an investment account that enables you to buy and sell a number of financial instruments, such as stocks, bonds, mutual funds, and ETFs.

Our preferred brokerage: eToro

Based on our research, eToro is the best stock brokerage. eToro gives you:

  • Invest in stocks with zero commissions: Invest without paying trading commissions.
  • Buy fractional shares: Even if you don't have the money to buy a full share, you can still buy the stock.
  • Access to world financial markets: From Tech to Utilities, New York to Hong Kong — you can fill your portfolio with stocks from the globe's leading exchanges.
  • Social investing: eToro has a community of more than 20 million users worldwide. Talk to, learn from, and copy the unique crypto portfolios of top investors.
  • Security: eToro is a regulated and licensed fintech leader.
  • Buy other assets: Such as ETFs and cryptos.

Get $10 towards your stock purchase by opening an account with eToro today.

Open eToro Account
eToro securities trading is offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. https://www.wallstreetzen.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD.

Step 2: Create a brokerage account

Now that you've selected your brokerage, you'll need to fill out some personal information so you are able to buy CDNS stock today.

How to Set Up a New Account on eToro

  1. Click here to get started.
    eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
  2. Input your personal details to open your new trading account.
  1. Submit your application by clicking the "Create Account" button.
  2. Get started with eToro today
    eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

Step 3: Put funds into your brokerage account

Now that you have opened your account on the best stock buying app, you can securely and quickly fund your account:

Watch the tutorial below if you need help depositing funds into your new brokerage account.

Get started with eToro today
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

Step 4: Analyze Cadence Design Systems stock

Once you have selected the best place to buy Cadence Design Systems stock, it's critical to research their stock before you buy, so you truly comprehend the risk and upside.

Cadence Design Systems Metrics

CDNS Price
$305.57
1w %
3.35%
1y %
57.52%
5y %
440.16%
P/E
79.16x
P/B
24.44x
P/S
20.13x
PEG
4.33x
Revenue
$4.09B
Earnings
$1.04B
Fore. Rev. Growth
12.64%
Fore. Earn. Growth
N/A
Market Cap
$83.19B
Next Earnings
Apr 22, 2024
Next Dividend
N/A

Cadence Design Systems Zen Score

WallStreetZen was created to help average investors do more accurate fundamental analysis in minutes instead of hours.

You can see all of the due diligence checks on CDNS's stock page.

Is CDNS stock overvalued?

Investors use many financial metrics, analyses, models, and charts to gauge CDNS's fair value.

Using relative valuations ratios:

  • CDNS may be undervalued based on its P/E ratio of 79.16x, relative to Software - Application industry P/E ratio of 116.39x
  • CDNS could be overvalued based on its P/B ratio of 24.44x, relative to Software - Application industry P/B ratio of 6.93x
  • CDNS may be overvalued based on its PEG ratio of 4.33x

You can do additional valuation analysis on CDNS's stock here.

CDNS Financials at a glance

Pros:

  • There are more short-term assets than short-term liabilities on the CDNS balance sheet.
  • There are more short-term assets than long-term liabilities on the CDNS balance sheet.
  • CDNS profit margin has gone up from 23.8% to 25.5% in the past year.
  • CDNS's operating cash flow of $1.35B allows it to safely service it's debt of $649.06M.
  • Total CDNS debt is lower than 5 years ago, relative to shareholder equity.
  • CDNS earnings of $1.32B is not sufficient to cover its interest payments.

Cons:

  • CDNS has a relatively high debt to equity ratio of 0.67.

Is it a good time to buy Cadence Design Systems stock, according to analysts?

Out of 7 Equities analysts who give ratings on CDNS, the consensus analyst rating on CDNS is a Strong Buy

Please note that analyst ratings are not stock recommendations, nor are they financial advice.

Most Recent CDNS Analyst Forecasts

Gary Mobley, a top 10% analyst from Wells Fargo maintains CDNS with a strong buy rating and raises their CDNS price target from $310.00 to $330.00, on Feb 6, 2024.

Blair Abernethy, a top 1% analyst from Rosenblatt reiterates CDNS with a strong buy rating and maintains their CDNS price target from $265.00 to $265.00, on Oct 24, 2023.

You can dig deeper into what analysts are projecting on the Cadence Design Systems stock forecast page.

CDNS Momentum

SMA10
299.53
SMA20
296.6
SMA50
282.39
SMA100
267.6
SMA200
248.44
MACD
4.39
MACD Signal
5.61
MACD Histogram
-1.22
RSI
60.2
Stochastic %K
36.7
Stochastic %D
26.4
StochRSI %K
17.31
StochRSI %D
7.24

CDNS Revenue

Last year, CDNS earnings were $1.04B. During the last 5 year, CDNS's earnings have increased by 25.1% per year. This was faster than the Software - Application industry average of 11.71%.

Last year, CDNS revenue was $4.09B. During the last five year, CDNS's revenue has gone up by 13.85% per year. This was slower than the Software - Application industry average of 30.78%.

Learn more about CDNS's earnings and revenue performance here.

What are CDNS executives and large shareholders up to?

In the last year, insiders at CDNS have sold more shares than they have bought.

Thomas P. Beckley, Sr. Vice President of CDNS, was the latest CDNS insider to sell. They sold $72,418.43 worth of CDNS stock on Feb 15, 2024.

Learn more about who owns CDNS shares here.

Can I get consistent income from CDNS stock?

No, Cadence Design Systems doesn't provide an income stream by paying out dividends.

Get opinions from other traders

One of the reasons eToro is our highest-rated brokerage is because of its social trading community.

Click below to see what other investors have to say.

Step 5: Place your CDNS buy order

You have two main options:

  • Market order: A market order is an order to buy or sell a security at the best price on the market.
    Market orders are generally sufficient.
  • Limit order: A limit order is an order to buy or sell a security at a specific price (or better).
    If you want to ensure you're buying or selling at an exact dollar amount, use a limit order.

Press the Open Trade button and eToro will execute your order.

If you want additional help with buying stocks on eToro, click the helpful video below:

Open eToro Account

Step 6: Keep an eye on your CDNS position

Now that you own some CDNS shares, you'll want to keep up with your investment.

Create a watchlist to track your CDNS stock.

CDNS Feed

How to Buy Stock in Cadence Design Systems

To reiterate, here are the 6 steps for buying Cadence Design Systems stock:

  1. Decide where to buy Cadence Design Systems stock
  2. Create a brokerage account
  3. Put funds into your brokerage account
  4. Analyze Cadence Design Systems stock
  5. Place your CDNS buy order
  6. Keep an eye on your CDNS position

If you are looking for a online brokerage, eToro is our favorite venue.

Get Started with eToro Today
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

If you would like to watch your investment in Cadence Design Systems, get started below.

NASDAQ: CDNS
$305.57+14.81 (+5.09%)
Updated Feb 22, 2024
Open eToro Account
NASDAQ: CDNS
$305.57+14.81 (+5.09%)
Updated Feb 22, 2024
Open eToro Account

FAQ

How much does it cost to buy one Cadence Design Systems share?

As of Feb 22, 2024, it costs $305.57 to buy one share of Cadence Design Systems stock.

Remember, eToro's fractional share buying allows you to buy partial shares of stocks and ETFs. Even if you only have $100, you can buy 0.327 shares of CDNS.

Get Started with eToro Today
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

Is now a good time to buy Cadence Design Systems stock?

According to 7 Wall Street analysts who monitor Cadence Design Systems, their consensus recommendation is to buy Cadence Design Systems stock.

What is the best way to buy Cadence Design Systems stock?

One way to place an order for Cadence Design Systems stock is with a brokerage account.
WallStreetZen does not provide financial advice and does not issue recommendations or offers to buy stock or sell any security.

Information is provided 'as-is' and solely for informational purposes and is not advice. WallStreetZen does not bear any responsibility for any losses or damage that may occur as a result of reliance on this data.