Cadence Design Systems - CDNS Stock Forecast, Price & News

13 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Cadence Design Systems in the last twelve months. There are currently 5 hold ratings and 8 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" CDNS shares.
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13 analysts have issued 12-month price objectives for Cadence Design Systems' stock. Their CDNS share price forecasts range from $175.00 to $215.00. On average, they predict the company's share price to reach $192.54 in the next twelve months. This suggests a possible upside of 17.8% from the stock's current price.
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Cadence Design Systems' stock was trading at $186.35 at the beginning of 2022. Since then, CDNS shares have decreased by 12.3% and is now trading at $163.43.
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The company is scheduled to release its next quarterly earnings announcement on Monday, October 24th 2022.
View our CDNS earnings forecast.

Cadence Design Systems, Inc. (NASDAQ:CDNS) issued its quarterly earnings results on Monday, July, 25th. The software maker reported $1.08 EPS for the quarter, beating the consensus estimate of $0.96 by $0.12. The software maker earned $858 million during the quarter, compared to analyst estimates of $835.01 million. Cadence Design Systems had a trailing twelve-month return on equity of 32.06% and a net margin of 23.61%. Cadence Design Systems's revenue was up 17.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.71 earnings per share.
Read the conference call transcript.

Cadence Design Systems updated its third quarter 2022 earnings guidance on Monday, August, 1st. The company provided earnings per share guidance of $0.94-$0.98 for the period, compared to the consensus earnings per share estimate of $0.93. The company issued revenue guidance of $860.00 million-$880.00 million, compared to the consensus revenue estimate of $847.81 million.

675 employees have rated Cadence Design Systems Chief Executive Officer Lip-Bu Tan on Glassdoor.com. Lip-Bu Tan has an approval rating of 98% among the company's employees. This puts Lip-Bu Tan in the top 20% of approval ratings compared to other CEOs of publicly-traded companies.

Based on aggregate information from My MarketBeat watchlists, some companies that other Cadence Design Systems investors own include NVIDIA (NVDA), Advanced Micro Devices (AMD), PayPal (PYPL), Alibaba Group (BABA), Intel (INTC), QUALCOMM (QCOM), Cisco Systems (CSCO), Salesforce (CRM), Adobe (ADBE) and Home Depot (HD).

Cadence Design Systems trades on the NASDAQ under the ticker symbol "CDNS."

Shares of CDNS stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of CDNS stock can currently be purchased for approximately $163.43.

Cadence Design Systems (NASDAQ:CDNS) has a market capitalization of $44.76 billion and generates $2.99 billion in revenue each year. The software maker earns $695.96 million in net income (profit) each year or $2.79 on an earnings per share basis.

The company employs 9,300 workers across the globe.

Cadence Design Systems' mailing address is 2655 SEELY AVENUE BLDG 5, SAN JOSE CA, 95134. The official website for the company is www.cadence.com. The software maker can be reached via phone at (408) 943-1234, via email at investor_relations@cadence.com, or via fax at 408-428-5001.