These Analysts Revise Their Forecasts On Cadence Design Systems Following Q3 Results
Portfolio Pulse from Avi Kapoor
Cadence Design Systems (NASDAQ:CDNS) reported better-than-expected Q3 results, with earnings and sales surpassing analyst estimates. Despite this, shares fell 1.8%. Analysts revised their price targets, with Needham lowering to $315 and Baird raising to $340.
October 29, 2024 | 12:57 pm
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Cadence Design Systems reported strong Q3 earnings, beating expectations. Despite this, shares fell 1.8%. Analysts adjusted price targets, with Needham lowering to $315 and Baird raising to $340.
Cadence Design Systems exceeded earnings and sales expectations, which is typically positive for stock prices. However, the stock fell 1.8%, possibly due to market conditions or profit-taking. Analysts' mixed price target revisions suggest varied expectations for future performance.
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