A Closer Look at 6 Analyst Recommendations For Cadence Design Sys
Portfolio Pulse from Benzinga Insights
In the last three months, six analysts have provided ratings for Cadence Design Systems (NASDAQ:CDNS), ranging from bullish to bearish. The average 12-month price target is $291.33, slightly down from the previous $292.67. Analysts' ratings include 'Outperform', 'Buy', 'Neutral', and 'Underperform', with price targets between $225 and $325. Cadence Design Systems, a provider of electronic design automation software, has shown solid revenue growth and strong financial health, with a notable net margin and return on equity.
October 22, 2024 | 7:01 pm
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Cadence Design Systems has received mixed analyst ratings, with an average price target of $291.33. The company's strong financial health, including a high net margin and return on equity, supports its market position.
The mixed analyst ratings indicate a neutral short-term impact on CDNS stock price. The average price target has slightly decreased, but the company's strong financial metrics, such as high net margin and ROE, provide a solid foundation. The range of price targets from $225 to $325 reflects diverse analyst expectations, suggesting stability rather than significant short-term movement.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100