On Oct 29, major Wall Street analysts update their ratings for $Cadence Design Systems (CDNS.US)$, with price targets ranging from $225 to $355.
Morgan Stanley analyst Lee Simpson maintains with a buy rating, and maintains the target price at $280.
J.P. Morgan analyst Harlan Sur maintains with a hold rating, and maintains the target price at $300.
Baird analyst Joseph Vruwink maintains with a buy rating, and maintains the target price at $340.
Oppenheimer analyst Edward Yang maintains with a sell rating, and maintains the target price at $225.
Needham analyst Charles Shi maintains with a buy rating, and adjusts the target price from $320 to $315.
Furthermore, according to the comprehensive report, the opinions of $Cadence Design Systems (CDNS.US)$'s main analysts recently are as follows:
The firm anticipates a consistent performance in Q3/Q4 but projects that diminishing expenditures in China and foundries may present a slight obstacle to growth moving into the next year. While adjusting the estimates for FY25, the firm also acknowledges areas of robust performance.
Cadence Design's third-quarter outcomes were deemed 'solid', and the projections for the future seem to be consistent. The anticipated strong performance for the latter half of the year, which was initially met with skepticism, has come to fruition as anticipated by management. The robust revenue trajectory seen at the close of 2024 is expected to continue into 2025 due to the durability of the hardware product cycle, enhancements in the company's IP fundamentals, and the potential for a rebound from a weaker performance in China in 2024.
The sentiment surrounding EDA's inclusion in the chip sector's 'winner's circle' has potential for positive shifts, with expectations for a strong rebound in the year 2025. The forecast for revenue and EBIT in FY24 remains steady at the midpoint, but more significant insights were gleaned from the conference call and the optimistic discourse on business tendencies. Notably, the bookings pipeline for Q4 appears exceptionally robust.
Here are the latest investment ratings and price targets for $Cadence Design Systems (CDNS.US)$ from 8 analysts:
Note:
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