Cadence Design Systems (CDNS) Set to Report Q3 Results, Stock Soars 31.4% YTD
Cadence Design Systems, Inc. (CDNS) is set to release its live election results on Monday, Oct. 27, with analysts predicting a profit of $1.42 per share. The company's stock has soared 31.4% over the past 52 weeks, outperforming XLK and S&P 500 Index returns. Despite a lack of specific analyst mention, a 'Strong Sell' rating is notably absent, with a consensus opinion of 'Strong Buy' and an 8.8% upside potential.
CDNS, a global provider of software services, including functional verification platforms like Jasper, Xcelium, Palladium, and Protium, has seen impressive growth. In Q2, its operating cash flows skyrocketed 111.3% year-over-year to $864.6 million. Following these results, CDNS stock prices increased 9.7%, with topline growth of 20.2% and non-GAAP net income up 28.3% year-over-year. Looking ahead, for the full fiscal 2025, CDNS is expected to report an EPS of $5.47, and in fiscal 2026, its earnings are expected to grow to $6.39 per share.
CDNS, valued at $96.3 billion by market cap, is expected to maintain its strong performance. Despite the lack of a 'Strong Sell' rating, the consensus opinion remains bullish, with analysts predicting an 8.8% upside potential. Investors await the upcoming third-quarter results to further assess the company's prospects.
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