While Caredx Inc has overperformed by 2.36%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, CDNA rose by 33.61%, with highs and lows ranging from $34.84 to $13.18, whereas the simple moving average fell by -12.03% in the last 200 days.
On January 15, 2025, Wells Fargo Upgraded Caredx Inc (NASDAQ: CDNA) to Equal Weight. A report published by Wells Fargo on August 28, 2024, Initiated its previous ‘Underweight’ rating for CDNA. BTIG Research also Upgraded CDNA shares as ‘Buy’, setting a target price of $40 on the company’s shares in a report dated August 19, 2024. Craig Hallum May 01, 2024d its ‘Hold’ rating to ‘Buy’ for CDNA, as published in its report on May 01, 2024. Stephens’s report from November 09, 2023 suggests a price prediction of $10 for CDNA shares, giving the stock a ‘Overweight’ rating. Raymond James also rated the stock as ‘Outperform’.
Analysis of Caredx Inc (CDNA)
Further, the quarter-over-quarter increase in sales is 17.54%, showing a positive trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Caredx Inc’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of 21.57% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 3.84, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
As an indicator of volatility for any stock, average volume can also be very valuable, and CDNA is recording an average volume of 1.02M. On a monthly basis, the volatility of the stock is set at 3.68%, whereas on a weekly basis, it is put at 4.20%, with a loss of -1.66% over the past seven days. Furthermore, long-term investors anticipate a median target price of $29.00, showing growth from the present price of $19.52, which can serve as yet another indication of whether CDNA is worth investing in or should be passed over.
How Do You Analyze Caredx Inc Shares?
Caredx Inc (CDNA) is based in the USA and is one of the most prominent companies operating in the Diagnostics & Research market. When comparing Caredx Inc shares with other companies under Healthcare, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 16.94, there is a growth in quarterly earnings of 41.89%.
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 6.61%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 98.60% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
CDNA shares are owned by institutional investors to the tune of 98.60% at present.
