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Fly News Breaks for June 6, 2016
CDNS
Jun 6, 2016 | 07:05 EDT
RBC Capital analyst Mitch Steves initiated Cadence Design with an Outperform and $29 price target. The analyst is positive on Cadence's subscription software model with an average length of 2-3 years, Palladium Z1 potential hardware upside, potential for low-double-digit earnings growth long-term, solid capital return program with a mix of M&A and buybacks, and valuation.
News For CDNS From the Last 2 Days
CDNS
Apr 23, 2024 | 06:49 EDT
Piper Sandler lowered the firm's price target on Cadence Design to $318 from $334 and keeps a Neutral rating on the shares. The firm notes the company reported solid Q1 results, but Q2 guide came below consensus on revenue and EPS. This was at odds with commentary noting a record bookings quarter, accelerating backlog growth and the FY24 revenue guide being raised by $10M at the midpoint.
CDNS
Apr 22, 2024 | 18:11 EDT
Check out this evening's top movers from around Wall Street, compiled by The Fly. HIGHER AFTER EARNINGSCrane... To see the rest of the story go to thefly.com. See Story Here
CDNS
Apr 22, 2024 | 16:39 EDT
CDNS
Apr 22, 2024 | 16:03 EDT
Sees FY24 revenue $4.56B-$4.62B, consensus $4.59B.
CDNS
Apr 22, 2024 | 16:03 EDT
CDNS
Apr 22, 2024 | 16:03 EDT
CDNS
Apr 22, 2024 | 14:05 EDT
Pre-earnings options volume in Cadence Design is 1.7x normal with calls leading puts 3:2. Implied volatility suggests the market is anticipating a move near 4.4%, or $12.56, after results are released. Median move over the past eight quarters is 2.9%.
CDNS
Apr 22, 2024 | 13:24 EDT
