Check Out What Whales Are Doing With CDNS
Portfolio Pulse from Benzinga Insights
A whale investor has taken a bearish stance on Cadence Design Sys (NASDAQ:CDNS), with 63% of detected trades having bearish expectations. Whales have been targeting a price range of $200 to $250 for CDNS over the last 3 months. Wells Fargo maintains an Overweight rating on the stock with a price target of $250.
June 22, 2023 | 8:16 pm
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NEGATIVE IMPACT
A whale investor has taken a bearish stance on Cadence Design Sys (CDNS), with 63% of detected trades having bearish expectations. Wells Fargo maintains an Overweight rating on the stock with a price target of $250.
The bearish stance taken by a whale investor on Cadence Design Sys (CDNS) indicates that they expect the stock price to decline in the short term. This could have a negative impact on the stock price as other investors may follow suit. However, Wells Fargo's maintained Overweight rating and $250 price target suggest that they still see potential upside in the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100