What are CDNs share price targets?

Their CDNS share price targets range from $280.00 to $350.00. On average, they predict the company's stock price to reach $326.11 in the next year. This suggests a possible upside of 10.8% from the stock's current price. View analysts price targets for CDNS or view top-rated stocks among Wall Street analysts. How have CDNS shares performed in 2024?

Is CDNs stock overvalued?

With this, our long-term expectations remain intact. Despite the drop in share price, we still view the current stock as slightly overvalued. CDNS is trading at a 846% premium. 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.

What is the CDN market size?

CDNetworks serves clients of different verticals from IoT, gaming, media and entertainment, e-commerce, financial services, manufacturing, transportation, retail and many more. According to the report, Gartner expects that “the enterprise CDN market will grow from 20% to 22% compound annual growth rate through 2025.