Where Does These Stocks Go From Here? – Ulta Beauty, Inc. (ULTA), Cadence Design Systems, Inc. (CDNS)

Investors making a wish list of stocks to watch should take a look at Ulta Beauty, Inc. (NASDAQ:ULTA). The stock is offering a price-to-sales ratio of 2.54. This situation may create an opportunity where long term players can win with either market bounce, or when long-term value is realized. The broad Specialty Retail, Other industry has an average P/S ratio of 2.02, which is significantly worse than the sector’s 1.93. In the past 13-year record, this ratio went down as low as 0.21 and as high as 4.04. Also, it is down from 0.83 of the total 951 rivals across the globe.

ULTA traded at an unexpectedly high level on 12/06/2018 when the stock experienced a 0.61% gain to a closing price of $292.92. The company saw 1.73 million shares trade hands over the course of the day. Given that its average daily volume over the 30 days has been 1 million shares a day, this signifies a pretty significant change over the norm.

Ulta Beauty, Inc. (ULTA) Analyst Gushes

Analysts are speculating a 19.49% move, based on the high target price ($350) for the shares that is set to reach in the next 12 months. The analysts, on average, are forecasting a $302.89 price target, but the stock is already up 52.8% from its recent lows. However, the stock is trading at -9.17% versus recent highs ($322.49). Analysts believe that we could see stock price minimum in the $270 range (lowest target price), allowing for another -7.82% drop from its current position. Leading up to this report, we have seen a 2.73% rise in the stock price over the last 30 days and a 6.26% increase over the past 3 months. Overall, the share price is up 30.97% so far this year. Additionally, ULTA had a day price range of $281.78 to $293.545.

Ulta Beauty, Inc. (ULTA) Price Potential

Heading into the stock price potential, Ulta Beauty, Inc. needs to grow just 0.88% to cross its median price target of $295.5. In order to determine directional movement, the 50-day and 200-day moving averages for Ulta Beauty, Inc. (NASDAQ:ULTA) are $278.58 and $253.11. Given that liquidity is king in short-term, ULTA is a stock with 60.29 million shares outstanding that normally trades 5.54% of its float. The stock price recently experienced a 5-day loss of -0.75% with 10.54 average true range (ATR). ULTA has a beta of 0.63 and RSI is 47.61.

Investors also need to beware of the Cadence Design Systems, Inc. (NASDAQ:CDNS) valuations. The stock trades on a P/S of 6.09, which suggests that the shares are not attractive compared with peers. The broad Application Software industry has an average P/S ratio of 5.54, which is significantly worse than the sector’s 2.67. In the past 13-year record, this ratio went down as low as 0.61 and as high as 6.67. Also, it is down from 0.76 of the total 1840 rivals across the globe.

Cadence Design Systems, Inc. (CDNS)’s Lead Over its Technicals

Cadence Design Systems, Inc. by far traveled 23.98% versus a 1-year low price of $35.49. The share price was last seen -1.63% lower, reaching at $44 on Dec. 06, 2018. At recent session, the prices were hovering between $43.2246 and $44.24. This company shares are 16.68% off its target price of $51.34 and the current market capitalization stands at $12.16B. The recent change has given its price a 0.57% lead over SMA 50 and -7.17% deficit over its 52-week high. The stock witnessed -2.11% declines, -5.46% declines and -0.18% declines for the 1-month, 3-month and 6-month period, respectively. To measure price-variation, we found CDNS’s volatility during a week at 2.48% and during a month it has been found around 2.71%.

Cadence Design Systems, Inc. (NASDAQ:CDNS) Intraday Metrics

Cadence Design Systems, Inc. (CDNS) exchanged hands at an unexpectedly high level of 2.77 million shares over the course of the day. Noting its average daily volume at 2.08 million shares each day over the month, this signifies a pretty significant change over the norm.

Cadence Design Systems, Inc. Target Levels

The market experts are predicting a 22.73% rally, based on the high target price ($54) for Cadence Design Systems, Inc. shares that is likely to be hit in the 52 weeks. Analysts anticipate that traders could see stock price minimum in the $46 range (lowest target price). If faced, it would be a 4.55% jump from its current position. Overall, the share price is up 5.21% year to date.