This Is What Whales Are Betting On Cadence Design Sys
Portfolio Pulse from Benzinga Insights
A significant investor has taken a bearish stance on Cadence Design Sys (NASDAQ:CDNS), with 80% of recent trades being bearish. The targeted price range for the company over the last 3 months is $200.0 to $240.0. The current price of CDNS is down -2.72% at $239.99. Rosenblatt has downgraded its action to Buy with a price target of $250.
September 07, 2023 | 5:31 pm
News sentiment analysis
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A significant investor has taken a bearish stance on Cadence Design Sys, which could potentially drive the stock price down in the short term.
The bearish stance taken by a significant investor indicates a lack of confidence in the company's short-term performance, which could potentially drive the stock price down. Additionally, the current price of the stock is nearing the upper end of the targeted price range, which could further contribute to a potential decrease in price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100