Needham Reiterates Buy on Cadence Design Sys, Maintains $320 Price Target
$CDNS
Computer Software: Prepackaged Software
Technology
Needham analyst Charles Shi reiterates Cadence Design Sys (NASDAQ:CDNS) with a Buy and maintains $320 price target.
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 11/12/2024 | $360.00 | Buy | Loop Capital |
| 10/22/2024 | $325.00 | Outperform | Mizuho |
| 10/15/2024 | $320.00 | Buy | Berenberg |
| 9/25/2024 | $225.00 | Underperform | Oppenheimer |
| 8/6/2024 | $318.00 | Neutral → Overweight | Piper Sandler |
| 4/4/2024 | $334.00 | Neutral | Piper Sandler |
| 2/14/2024 | $350.00 | Equal-Weight → Overweight | Morgan Stanley |
| 2/13/2024 | $280.00 | Buy → Neutral | Rosenblatt |
Cadence Design Systems, Inc. (NASDAQ:CDNS) announced that Fortune Magazine and Great Place To Work® have honored the company once again in the Top 10 on its World's Best Workplaces™ 2024, ranking Cadence #9. This is the ninth time Cadence has appeared on the prestigious World's Best list, which recognizes only 25 global leaders selected from thousands of organizations that participated in Great Place To Work's employee survey process—representing the voices of 20 million employees worldwide. The 25 World's Best Workplaces stood out for creating globally exceptional employee experiences, high-trust relationships and workplaces that are fair and equal to all. This press release features mult
Exceeded Q3 guidance for revenue and operating margin On track to deliver strong second half Raising midpoint of 2024 non-GAAP EPS outlook to $5.90 Cadence Design Systems, Inc. (NASDAQ:CDNS) today announced results for the third quarter of 2024. Third Quarter 2024 Financial Results Revenue of $1.215 billion, compared to revenue of $1.023 billion in Q3 2023 GAAP operating margin of 29%, compared to 29% in Q3 2023 Non-GAAP operating margin of 45%, compared to 41% in Q3 2023 GAAP diluted net income per share of $0.87, compared to $0.93 in Q3 2023 Non-GAAP diluted net income per share of $1.64, compared to $1.26 in Q3 2023 Quarter-end backlog was $5.6 billion and current remaini
Equinix, NetApp, NVIDIA and Workday join Fem.AI Alliance to drive change, backed by initial $20 million Cadence investment Cadence Design Systems, Inc. (NASDAQ:CDNS) announced that industry leaders Equinix Foundation, NetApp, NVIDIA and Workday are founding members of the Cadence Giving Foundation's Fem.AI Alliance, a group of companies and institutions that have committed to driving change towards a more representative tech and AI workforce. The Fem.AI Alliance is dedicated to evolving the future workforce by increasing women's representation and leadership in the tech industry. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/2024
Loop Capital initiated coverage of Cadence Design with a rating of Buy and set a new price target of $360.00
Mizuho initiated coverage of Cadence Design with a rating of Outperform and set a new price target of $325.00
Berenberg initiated coverage of Cadence Design with a rating of Buy and set a new price target of $320.00
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Equinix, NetApp, NVIDIA and Workday join Fem.AI Alliance to drive change, backed by initial $20 million Cadence investment Cadence Design Systems, Inc. (NASDAQ:CDNS) announced that industry leaders Equinix Foundation, NetApp, NVIDIA and Workday are founding members of the Cadence Giving Foundation's Fem.AI Alliance, a group of companies and institutions that have committed to driving change towards a more representative tech and AI workforce. The Fem.AI Alliance is dedicated to evolving the future workforce by increasing women's representation and leadership in the tech industry. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/2024
BETA CAE's world-renowned solutions will complement and expand Cadence's system analysis portfolio for automotive, aerospace, industrial and healthcare verticals Cadence Design Systems, Inc. (NASDAQ:CDNS) today announced it has entered into a definitive agreement to acquire BETA CAE Systems International AG, a leading system analysis platform provider of multi-domain, engineering simulation solutions. The addition of BETA CAE's proven technologies and talent will accelerate Cadence's Intelligent System Design™ strategy by expanding its multiphysics system analysis portfolio and enabling entry into the structural analysis segment, unlocking a multi-billion-dollar incremental TAM opportunit
Transaction brings Cadence skilled system design expertise in delivering end-to-end custom solutions to customers across multiple industries Cadence Design Systems, Inc. (NASDAQ:CDNS) announced today that it has acquired Invecas, Inc., a leading provider of design engineering, embedded software and system-level solutions, headquartered in Santa Clara, California. The purchase adds a skilled system design engineering team to Cadence, with expertise in providing customers with custom solutions across chip design, product engineering, advanced packaging and embedded software. Accelerating trends such as digital transformation of multiple vertical markets and more system companies building
Cadence Design Systems, Inc. (NASDAQ:CDNS) announced today that it has completed the acquisition of OpenEye Scientific Software, Inc. ("OpenEye"). The addition of OpenEye's technologies and experienced team accelerates the Cadence® Intelligent System Design™ strategy by extending Cadence's computational software core competency to molecular modeling and simulation that is targeted to life sciences. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220901005242/en/ OpenEye, an industry leader in computational molecular design, has pioneered physics-based approaches and the cloud-native Orion® software platform to accelerate advances
Cadence Design Systems, Inc. (NASDAQ:CDNS) today announced that it has completed the acquisition of Future Facilities. The addition of Future Facilities technologies and expertise supports the Cadence® Intelligent System Design™ strategy and broadens its multiphysics system analysis and computational fluid dynamics (CFD) portfolios. Future Facilities' electronics cooling analysis and energy performance optimization solutions for data center design and operations using physics-based 3D digital twins enables leading technology companies to make informed business decisions about data center design, operations and lifecycle management and reduce their carbon footprint. Future Facilities' proven
Broadens expansion into multiphysics domain with market-leading computational fluid dynamics mesh generation and pre-processing technology Cadence Design Systems, Inc. (NASDAQ:CDNS) announced today that it has acquired Pointwise, Inc., a leader in mesh generation for computational fluid dynamics (CFD). The addition of Pointwise's technologies and experienced team supports the Cadence® Intelligent System Design™ strategy and further broadens its system analysis portfolio, complementing the recently acquired NUMECA CFD technology. Together, these acquisitions will enable advanced CFD solutions where accuracy, reliability, predictability and performance are paramount for high-fidelity charact
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Cadence Design Sys (NASDAQ:CDNS) has outperformed the market over the past 15 years by 16.52% on an annualized basis producing an average annual return of 28.55%. Currently, Cadence Design Sys has a market capitalization of $73.31 billion. Buying $1000 In CDNS: If an investor had bought $1000 of CDNS stock 15 years ago, it would be worth $43,211.08 today based on a price of $269.09 for CDNS at the time of writing. Cadence Design Sys's Performance Over Last 15 Years Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time. This article was generated by Benzing
Throughout the last three months, 7 analysts have evaluated Cadence Design Sys (NASDAQ:CDNS), offering a diverse set of opinions from bullish to bearish. The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 3 3 1 0 0 Last 30D 1 1 0 0 0 1M Ago 0 2 1 0 0 2M Ago 1 0 0 0 0 3M Ago 1 0 0 0 0 Analysts have set 12-month price targets for Cadence Design Sys, revealing an average target of $334.57, a high estimate of $355.00, and a low estimate of $318.00. This current average has increased by 1.78%